Minnesota ownership change in jeopardy?

[Domejandro]

On one hand, this to me reads like Glen Taylor being a ruthless business man; he has a history of being very detail oriented with contract language.

On the other hand, Marc Lore and Alex Rodriguez have repeatedly failed to meet deadlines, and have been largely an unmitigated disaster financially, throughout this process. It’s been extremely embarrassing to see them repeatedly beg for extensions and fail their end of their obligations.

Even if Glen Taylor is being a massive dick and somewhat bad faith, the answer to avoiding this is just not missing basic deadlines, especially after extension requests.

[Chuck Everett]

On one hand, this to me reads like Glen Taylor being a ruthless business man; he has a history of being very detail oriented with contract language.

On the other hand, Marc Lore and Alex Rodriguez have repeatedly failed to meet deadlines, and have been largely an unmitigated disaster financially, throughout this process. It’s been extremely embarrassing to see them repeatedly beg for extensions and fail their end of their obligations.

Even if Glen Taylor is being a massive dick and somewhat bad faith, the answer to avoiding this is just not missing basic deadlines, especially after extension requests.

OR...

Actually having all the money necessary to complete the purchase when you make your initial offer. That's what Mat Ishbia did. That's what Schall/Plotkin did. That's what the Adelson's did. These guys are too poor.

[F Saunders]

Glen Taylor would have never done the Gobert deal alone.

This isn’t accurate, Glen Taylor signed off on the Jimmy Butler deal and has been a notably hands-off owner (arguably to the detriment of Minnesota).

I know it was never actually stated publicly, but I thought it was commonly believed that Taylor wouldn't let the Wolves include Wiggins in the Butler deal, costing the team Lavine and pick #7 instead?

[Worm Guts]

Wait - so Lore / Arod have the funds and Taylor is reneging because the team is good? IS that even legal? Or do I have this wrong?

Not exactly. ARod/Lore didn't meet certain deadlines/requirements within the agreement, which opened the door for Taylor to renege on the agreement. But it seems like if Taylor didn't change his mind, the sale would be still going forward.

[Worm Guts]

On one hand, this to me reads like Glen Taylor being a ruthless business man; he has a history of being very detail oriented with contract language.

On the other hand, Marc Lore and Alex Rodriguez have repeatedly failed to meet deadlines, and have been largely an unmitigated disaster financially, throughout this process. It’s been extremely embarrassing to see them repeatedly beg for extensions and fail their end of their obligations.

Even if Glen Taylor is being a massive dick and somewhat bad faith, the answer to avoiding this is just not missing basic deadlines, especially after extension requests.

OR...

Actually having all the money necessary to complete the purchase when you make your initial offer. That's what Mat Ishbia did. That's what Schall/Plotkin did. That's what the Adelson's did. These guys are too poor.

Taylor also seemed to have some mentorship requirement for selling the team which was weird, and I can imagine off-putting for anyone willing to make a billion dollar purchase.

[Roger Murdock]

The devil you know Twolves fans

An ownership group too poor to buy your team would be a downgrade. This is a good thing

You can't downgrade from the worst winning percentage in American sports. Not just basketbal, all sports.

You can do worse. A bad owner is better than a broke owner. Broke people do desperate things and short sighted things.

[ForeverTFC]

I get Minny fans are disappointed, but honestly I'm not sure having Lore/ARod as owners is much better. They don't have money.

[dc]

The devil you know Twolves fans

An ownership group too poor to buy your team would be a downgrade. This is a good thing

You can't downgrade from the worst winning percentage in American sports. Not just basketbal, all sports.

You can do worse. A bad owner is better than a broke owner. Broke people do desperate things and short sighted things.

Well, Chris Cohan was just bad. He was "poor", though I don't know if he was broke. All we know is he owed the IRS about $160M (which prompted the sale of the Warriors). Haven't gone thru the math, but I'm pretty confident Cohan's winning % is worse than Taylor's.

He missed the playoffs 14 out of 15 years. If it wasn't for a fluky, last minute run by that We Believe team, he would've missed the playoffs in all 15 years of his ownership. Would've been the worst ownership run in NA sports if that happened. Remember, the NBA is a league where half the teams make the playoffs.

[xdrta+]

Wonder if the remorse is valuing the team at 1.5B, considering the Suns sold for 4B just last year.

[dc]

Wonder if the remorse is valuing the team at 1.5B, considering the Suns sold for 4B just last year.

Definitely wouldn't be surprised if it was a case of seller's remorse.

[azcatz11]

Wonder if the remorse is valuing the team at 1.5B, considering the Suns sold for 4B just last year.

I assume a court is going to decide this.

[Wammy Giveaway]

I haven't done a correlation test, but how much of the Timberwolves brief rise to the top of the standings was because of the sale to Mark Lore and Alex Rodriguez? With that deal called off, do you think Wolves might stumble into the playoffs, to the point they are an easy out? Did Taylor just ruin the Wolves's shot at a deep run?

[mastermixer]

Wonder if the remorse is valuing the team at 1.5B, considering the Suns sold for 4B just last year.

If that’s the case then Lore should have been able to come up with the money, no?

[xdrta+]

Wonder if the remorse is valuing the team at 1.5B, considering the Suns sold for 4B just last year.

I assume a court is going to decide this.

According to Krawcyznski in The Athletic, the purchase agreement calls for third-party mediation and arbitration to resolve disputes like this one.

[dc]

With that deal called off, do you think Wolves might stumble into the playoffs, to the point they are an easy out? Did Taylor just ruin the Wolves's shot at a deep run?

I doubt it. This isn't a Donald Sterling in 2014 situation. The Wolves on the court should be just fine this year.

Ownership impacts are much more of a long term thing.

[flranger]

I got zero blame for Taylor on this one.

Watch on YouTube

[life_saver]

It does look like it's mostly seller's remorse

Read on Twitter

[shrink]

It does look like it's mostly seller's remorse

Read on Twitter

True, but do you blame Taylor?

ARod and Lore signed a deal to buy the team, but didn’t have the scratch to buy it all at once.

When it was time to pay the first 20%, they didn’t have it. Glen/deal gave them an extension. Glen finally got his money.

When it was time to pay the second 20%, they didn’t have it. Glen/deal gave them an extension. Glen finally got his money.

When it was time to pay the final 40%, they didn’t have it.

ARod and Lore already made half a billion on the increase in the price. It’s their own fault they couldn’t pay the last 40% on time.

[shrink]

Also, it seems like a number of posters are using today’s events to take out their anger on Taylor’s past issues.

Easy solution?

Watch on YouTube

[dc]

ARod and Lore signed a deal to buy the team, but didn’t have the scratch to buy it all at once.

When it was time to pay the first 20%, they didn’t have it. Glen/deal gave them an extension. Glen finally got his money.

When it was time to pay the second 20%, they didn’t have it. Glen/deal gave them an extension. Glen finally got his money.

When it was time to pay the final 40%, they didn’t have it.

ARod and Lore already made half a billion on the increase in the price. It’s their own fault they couldn’t pay the last 40% on time.

Yeah, I gotta side with Taylor here. I didn't follow all the little details of this deal, but safe to say if they had the money to close on this deal a lot sooner, it wouldn't have come to this.