Johnny Bball wrote:shrink wrote:Johnny Bball wrote:
CHA and DAL just sold for $3 billion valuations. The $1.5B sale price was agreed in 2021. That's all you need to know here about what Taylor is saying publicly and every supposed point above.
Says what? That he’s right?
Taylor even said publicly that if the team wasn’t worth so much, he might not demand payment on time. No one is hiding anything.
Hiding? What?
And you beleive what Taylor is saying that they couldn't come up with the money though...even though they they have pretty likely doubled their initial investments? And are ignoring what the buyers are saying? Ok then. You beleive that."We are disappointed with Glen Taylor's public statement today. 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."
And he wasn't right and is now likely trying to do anything to fix it, legally binding or not.
I feel like you haven’t followed this very closely.
ARod and Lore’s financial ability to complete this deal was questioned by the industry, right from the start. Instead of a straight sale, they needed to do a multiyear buy in because they couldn’t afford the upfront $1.5 billion. On each of their previous 20% payments, they missed the deadline and required an extension to raise the money. On the second payment, they literally had to sell some of their Wolves shares to a third investor (google inventor) to reach the 20%! This time, for the 40%, they had an investor (Carlyle Group) literally back out on them in obviously a very sweet deal. They quickly asked another investor but who knows? Moreover, NBA rules require any owner to be able to buy a minimum percent of the organization, so a team isn’t owned by 1000’s of owners. Lore has that kind of money, but for the last year, people have wondered if ARod could get there.
So do I believe that the owners couldn’t have come up with the money? Clearly. If they could, they would have paid on time according to the contract, and not risked complications from having to ask for yet another extension.