Marc Lore, Alex Rodriguez Fail To Close On Controlling Interest Of Wolves By Deadline

[dougthonus]

I think all those guys except for Ballmer still financed their deals. They got loans using their wealth as leverage/collateral. Single owner, but still financed portion of their purchase.

Financing the purchase is still cash up front. The cash is coming from financing.

I think it's quite unusual to have an installment plan over 3 years.

[dougthonus]

This deal and the price of 1.5B and the structure was worked out in 2021 and taylor agreed. Since then Jordan sold Charlotte and Cuban sold part of Dallas for 3 billion valuations. I'm sure Taylor will do whatever it can to make this deal void. I don't beleive a word that he's saying, because if you asked anyone to come up with that 40% now, based on a doubled valuation (or close to), its not hard to get that funding or financers as there is money to be made. Taylor is probably being a douchebag.

Why is he being a douchebag for forcing ARod/Lore to follow their agreement. They had an option, they did not exercise it in time. That's their problem not his for not extending the option. Why should he give them extra time when the value of the franchise doubled? How did they let this slip and not button it up?

If I had invested in something that doubled in value and had to take certain steps to ensure I got that transaction to go through that were defined in legal documents, I'd damn well take them. I wouldn't screw it up, then blame the person who was losing half the money if the transaction goes through for sticking to the letter of the agreement if I fail to do my part.

Literally _any_ investment anywhere ever works that way. Maybe some grey area will emerge and it will turn out that it goes to lawyers, but if Lore/ARod didn't meet the very strict rules of the deal, why should Taylor do them a solid and give them a free 900M dollars that he doesn't have to?

[Johnny Bball]

This deal and the price of 1.5B and the structure was worked out in 2021 and taylor agreed. Since then Jordan sold Charlotte and Cuban sold part of Dallas for 3 billion valuations. I'm sure Taylor will do whatever it can to make this deal void. I don't beleive a word that he's saying, because if you asked anyone to come up with that 40% now, based on a doubled valuation (or close to), its not hard to get that funding or financers as there is money to be made. Taylor is probably being a douchebag.

Why is he being a douchebag for forcing ARod/Lore to follow their agreement. They had an option, they did not exercise it in time. That's their problem not his for not extending the option. Why should he give them extra time when the value of the franchise doubled? How did they let this slip and not button it up?

If I had invested in something that doubled in value and had to take certain steps to ensure I got that transaction to go through that were defined in legal documents, I'd damn well take them. I wouldn't screw it up, then blame the person who was losing half the money if the transaction goes through for sticking to the letter of the agreement if I fail to do my part.

Literally _any_ investment anywhere ever works that way. Maybe some grey area will emerge and it will turn out that it goes to lawyers, but if Lore/ARod didn't meet the very strict rules of the deal, why should Taylor do them a solid and give them a free 900M dollars that he doesn't have to?

You cleary don't understand what their agreement was. But nobody would that only listened to what Taylor was saying.

[dougthonus]

You cleary don't understand what their agreement was. But nobody would that only listened to what Taylor was saying.

As far as I can tell, there are three options:
1: ARod/Lore didn't meet the deadline in the agreement and Taylor is within his rights to do what he did

2: Taylor is misinterpreting/lying about the agreement and ARod/Lore have more time to get finalization from the NBA and this is a move of desperation

3: The agreement isn't specific enough and there is grey area and it will end up in front of lawyers who will decide

If #2 ends up being true, then I'll agree with you completely, but seems like everyone is assuming #2 is true without much basis. I'm not on team Glen Taylor, I don't really care one way or the other. It just seems that a lot of people seem to be highly confident that #2 is true without a whole lot of reason to believe that more than the other options.

It's really interesting that the NBA hasn't weighed in on this yet.