[Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves

[winforlose]

I know and understand what you want. It's more fun having Lore and A Rod as the owners, but it seems to me that Taylor is legally in the right and I don't believe ethically in the wrong.

Glen has said that his biggest issue has been keeping the team in Minnesota. Nothing has come out saying that Lore and arod plan on moving the team. Glen has said on record that he doesn't know if they have the money or not. It's simply the fact that the team is worth a ton more and is a title contender and he wasn't a part of it. Those are the facts and to me that ethically Glen is completely wrong

I don’t get this point either. ARod and Lore said they had the money and that’s the deal. Over the last two years, they have been the ones scrambling around, looking for others to front them the money, including selling part of their Wolves ownership. Why blame Glen, and not ARod and Lore, for the deal potentially falling apart?

Even if all goes wrong for ARod and Lore, they’ve made half a billion dollars, and for you, Taylor owns 40% less of the club. Why are you so angry about all this?

People are angry for 2 reasons.

1. It feels like Glen is gonna profit from the hard work and good judgment of the Lore and AROD. On principle that just feels wrong to people.

2. Glen has been so bad at managing things that people don’t want him in charge. Especially when his history of being cheap comes up against the most expensive year in our teams history. Glen might not pony up, and worse might **** up what the other guys built.

[shrink]

Glen has said that his biggest issue has been keeping the team in Minnesota. Nothing has come out saying that Lore and arod plan on moving the team. Glen has said on record that he doesn't know if they have the money or not. It's simply the fact that the team is worth a ton more and is a title contender and he wasn't a part of it. Those are the facts and to me that ethically Glen is completely wrong

I don’t get this point either. ARod and Lore said they had the money and that’s the deal. Over the last two years, they have been the ones scrambling around, looking for others to front them the money, including selling part of their Wolves ownership. Why blame Glen, and not ARod and Lore, for the deal potentially falling apart?

Even if all goes wrong for ARod and Lore, they’ve made half a billion dollars, and for you, Taylor owns 40% less of the club. Why are you so angry about all this?

People are angry for 2 reasons.

1. It feels like Glen is gonna profit from the hard work and good judgment of the Lore and AROD. On principle that just feels wrong to people.

2. Glen has been so bad at managing things that people don’t want him in charge. Especially when his history of being cheap comes up against the most expensive year in our teams history. Glen might not pony up, and worse might **** up what the other guys built.

I appreciate this post, but I don’t agree with either reason.

1. If the Wolves’ success has all been the hard work of ARod and Lore, that means none of the success has come from Ant, KAT, Jaden or Finch, who were all here before ARod and Lore were a glimmer.

2. His history of being cheap is overblown. His history is four seasons of paying the lux (about NBA average, but spending on worse teams). He’s the guy who paid Garnett the biggest contract in NBA history at the time, which led to CBA language on max deals. Hell, he’s the one who spent the money to buy the whole franchise, rather than see it sold to New Orleans. His desire to keep the team includes keeping those lux payments. I just looked up that Taylor is the richest man in MIN, well over $2 bil. If ARod and Lore were to pay lux taxes, they would need to borrow even more money, or sell off even more shares of the franchise. Taylor has made spendy moves and thrifty cuts, like nearly every owner.

[wolves_89]

I'd prefer to have Lore and A-Rod as owners since I think they are significantly more competent at running an NBA franchise. With that said, I'd be fine with Taylor keeping control as long as he's willing to pay the luxury tax needed to contend for the next couple of years. Connelly and Finch being in place would hopefully minimize the truly awful decision making that Taylor has repeatedly demonstrated over decades of ownership.

[BlacJacMac]

This could be interesting:

Read on Twitter

[winforlose]

This could be interesting:

Read on Twitter

So when did the original call notice go out? If it went out in September (which makes sense for a December closing,) and then got extended by 90 days, then that is March 27th. Unless I am misunderstanding the timeline.

[BlacJacMac]

This could be interesting:

Read on Twitter

So when did the original call notice go out? If it went out in September (which makes sense for a December closing,) and then got extended by 90 days, then that is March 27th. Unless I am misunderstanding the timeline.

Read on Twitter

[thinktank]

This could be interesting:

Read on Twitter

I don’t see any text to the effect of a 90 day extension.

[winforlose]

This could be interesting:

Read on Twitter

I don’t see any text to the effect of a 90 day extension.

Ignore the highlighted portion. Look at section 6.4(a).

[BlacJacMac]

[thinktank]

This could be interesting:

Read on Twitter

I don’t see any text to the effect of a 90 day extension.

Ignore the highlighted portion. Look at section 6.4(a).

Thank you.

I could see Taylor choosing to ignore that.

[guest81]

I don’t get this point either. ARod and Lore said they had the money and that’s the deal. Over the last two years, they have been the ones scrambling around, looking for others to front them the money, including selling part of their Wolves ownership. Why blame Glen, and not ARod and Lore, for the deal potentially falling apart?

Even if all goes wrong for ARod and Lore, they’ve made half a billion dollars, and for you, Taylor owns 40% less of the club. Why are you so angry about all this?

People are angry for 2 reasons.

1. It feels like Glen is gonna profit from the hard work and good judgment of the Lore and AROD. On principle that just feels wrong to people.

2. Glen has been so bad at managing things that people don’t want him in charge. Especially when his history of being cheap comes up against the most expensive year in our teams history. Glen might not pony up, and worse might **** up what the other guys built.

I appreciate this post, but I don’t agree with either reason.

1. If the Wolves’ success has all been the hard work of ARod and Lore, that means none of the success has come from Ant, KAT, Jaden or Finch, who were all here before ARod and Lore were a glimmer.

2. His history of being cheap is overblown. His history is four seasons of paying the lux (about NBA average, but spending on worse teams). He’s the guy who paid Garnett the biggest contract in NBA history at the time, which led to CBA language on max deals. Hell, he’s the one who spent the money to buy the whole franchise, rather than see it sold to New Orleans. His desire to keep the team includes keeping those lux payments. I just looked up that Taylor is the richest man in MIN, well over $2 bil. If ARod and Lore were to pay lux taxes, they would need to borrow even more money, or sell off even more shares of the franchise. Taylor has made spendy moves and thrifty cuts, like nearly every owner.

Lore and Arod brought in Connley, who Glen didn't even know, into the fold whose moves turned the wolves in a bottom playoff team to a championship contender. Do you honestly believe the team would be where it is right now if Glen was the owner this whole time?

[winforlose]

I don’t see any text to the effect of a 90 day extension.

Ignore the highlighted portion. Look at section 6.4(a).

Thank you.

I could see Taylor choosing to ignore that.

That’s the thing. If they had to give notice 60-90 days before before the end of the year 2023, (I know the contract says December 2024, but the original extension was for December 2023,) then they may have had already had the extra 90 days. There are key facts still in question.

[shrink]

People are angry for 2 reasons.

1. It feels like Glen is gonna profit from the hard work and good judgment of the Lore and AROD. On principle that just feels wrong to people.

2. Glen has been so bad at managing things that people don’t want him in charge. Especially when his history of being cheap comes up against the most expensive year in our teams history. Glen might not pony up, and worse might **** up what the other guys built.

I appreciate this post, but I don’t agree with either reason.

1. If the Wolves’ success has all been the hard work of ARod and Lore, that means none of the success has come from Ant, KAT, Jaden or Finch, who were all here before ARod and Lore were a glimmer.

2. His history of being cheap is overblown. His history is four seasons of paying the lux (about NBA average, but spending on worse teams). He’s the guy who paid Garnett the biggest contract in NBA history at the time, which led to CBA language on max deals. Hell, he’s the one who spent the money to buy the whole franchise, rather than see it sold to New Orleans. His desire to keep the team includes keeping those lux payments. I just looked up that Taylor is the richest man in MIN, well over $2 bil. If ARod and Lore were to pay lux taxes, they would need to borrow even more money, or sell off even more shares of the franchise. Taylor has made spendy moves and thrifty cuts, like nearly every owner.

Lore and Arod brought in Connley, who Glen didn't even know, into the fold whose moves turned the wolves in a bottom playoff team to a championship contender. Do you honestly believe the team would be where it is right now if Glen was the owner this whole time?

No. But do you believe we’d be here if a different GM drafted Wiseman instead of Ant?

We’re in a great position, but it’s the accumulation of a lot of good decisions by a lot of people.

[guest81]

I appreciate this post, but I don’t agree with either reason.

1. If the Wolves’ success has all been the hard work of ARod and Lore, that means none of the success has come from Ant, KAT, Jaden or Finch, who were all here before ARod and Lore were a glimmer.

2. His history of being cheap is overblown. His history is four seasons of paying the lux (about NBA average, but spending on worse teams). He’s the guy who paid Garnett the biggest contract in NBA history at the time, which led to CBA language on max deals. Hell, he’s the one who spent the money to buy the whole franchise, rather than see it sold to New Orleans. His desire to keep the team includes keeping those lux payments. I just looked up that Taylor is the richest man in MIN, well over $2 bil. If ARod and Lore were to pay lux taxes, they would need to borrow even more money, or sell off even more shares of the franchise. Taylor has made spendy moves and thrifty cuts, like nearly every owner.

Lore and Arod brought in Connley, who Glen didn't even know, into the fold whose moves turned the wolves in a bottom playoff team to a championship contender. Do you honestly believe the team would be where it is right now if Glen was the owner this whole time?

No. But do you believe we’d be here if a different GM drafted Wiseman instead of Ant?

We’re in a great position, but it’s the accumulation of a lot of good decisions by a lot of people.

none of which is glen taylor

[Klomp]

Really interesting discussion between Phil and Kyle on Flagrant Howls today. Great point....how did no one (ie Shams/Woj) get wind of this before the press release went out? Did Glen "go rogue"? Wouldn't surprise me to be honest, just like it wouldn't surprise me that Glen would miss the fine print (as pointed above).

This screams of Glen just wanting to hold on now that the team is successful. And as for "I have a responsibility to those who have been on this ride for the last 40 years" (the Kaplan tweet from the Hartman interview), what minority owners have been around for the whole franchise's existence?

[shrink]

Glen Taylor appears in public like your doddering old grandpa, but behind closed doors …!

Watch on YouTube

[Guest84]

https://youtu.be/2_78Cvxqu1k?si=XhnZ8JOZUeN8vCbx

Interesting takes from Kyle

[Dewey]

Lore and Arod brought in Connley, who Glen didn't even know, into the fold whose moves turned the wolves in a bottom playoff team to a championship contender. Do you honestly believe the team would be where it is right now if Glen was the owner this whole time?

No. But do you believe we’d be here if a different GM drafted Wiseman instead of Ant?

We’re in a great position, but it’s the accumulation of a lot of good decisions by a lot of people.

none of which is glen taylor

OMG … get over yourself! Geez, not sure if you’re gonna start crying or what …

[jpatrick]

Disaster. Glen being completely in control puts the wolves back into a joke franchise

It’s a good point, but no. I wondered earlier if the original deal contained a buy-out clause, so the parties could divorce themselves from future battles if the deal went south. It sounds though that is not the case. In fact Taylor said they would keep their 36% of the Wolves and he would continue to act as majority owner.

The only thing that seems certain is, no matter what the ruling, Lore's group gets to keep their shares.

At this point, it seems like no one knows if they met the deadline or not. If they met the deadline, but the NBA is holding things up, I'm not sure how that can be held against Lore and ARod.

From Jon K:

“We are disappointed with Glen Taylor’s public statement today,” a spokesperson for Lore and Rodriguez said. “We have fulfilled our obligations, have all necessary funding and are fully committed to closing our purchase of the team as soon as the NBA completes its approval process. Glen Taylor’s statement is an unfortunate case of seller’s remorse that is short-sighted and disruptive to the team and the fans during a historic winning season.”

Just last week, the pair submitted financial documentation to the NBA as they moved to finalize their purchase of a 40 percent stake that would vault them from limited partners to majority owners. Now that ascension appears to be in jeopardy.

What happens next is not immediately known. The purchase agreement calls for mediation and arbitration to resolve any such disputes, league sources told The Athletic.

Exactly when that would happen and how long it would take remains to be seen. Under the terms of the agreement, Lore and Rodriguez retain the 40 percent of the team they have already purchased.

https://theathletic.com/5375544/2024/03/28/timberwolves-lynx-lore-rodriguez-ownership/?source=emp_shared_article

A minority stake in a privately owned company is worth significantly less than a majority stake. It’s not nearly as simple as that 36-37% ownership is worth 36-37% of the current valuation. Maybe worth more than they paid but probably not doubling their value, which would have happened if they had completed the purchase for majority ownership.

[Nick K]

I know and understand what you want. It's more fun having Lore and A Rod as the owners, but it seems to me that Taylor is legally in the right and I don't believe ethically in the wrong.

Glen has said that his biggest issue has been keeping the team in Minnesota. Nothing has come out saying that Lore and arod plan on moving the team. Glen has said on record that he doesn't know if they have the money or not. It's simply the fact that the team is worth a ton more and is a title contender and he wasn't a part of it. Those are the facts and to me that ethically Glen is completely wrong

Have you ever done a deal in your life? Is holding people to the deal they agreed to unethical?

------------------------------

Shrink, the thing you're kind of missing is Lo/Rod have the money and reported it to the league last week with the Dyal group. It looks to me that Taylor is welching on the deal on a technicality because the team is winning and is worth twice what it was initially. Plus, Glen has felt disrespected by Lore and their relationship has deteriated due to lack of communication. This move by Glen puts him clearly in a bad light.

My guess is this goes to an arbitrator and Lo/rod win it. Who knows how long that will take?


BTW, Lore is worth about 4 billion dollars according to Forbes.