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

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

Post#601 » by HartfordWhalers » Sun Mar 31, 2024 3:32 pm

thinktank wrote:
HartfordWhalers wrote:
thinktank wrote:
I’m sure it is but what percent of your portfolio is in individual stocks, for example?

I bet it’s nowhere near 50% and you know I’m right.

If Lore has 650 million in stock I would guess he’s worth at least double that amount and likely triple, minimum.

The first 10 years of my career I worked at a fortune 250 financial firm so I know my ****. Automated 98% of their brokerage new business. Bring this topic on, my friend.


It’s weird how then Forbes knows less than you and doesn’t list him as a billionaire.
But you seem so sure, you must be right.


Forbes has multiple valuations for Lore.

One said 4 billion plus.

You’re choosing not to answer my question about what percent of your portfolio is in individual stocks. ;)

I wonder why? Because you know I’m right. Nobody in their right mind owns 100% stocks. You know this.


I’m absolutely choosing not to discuss with you how I invest. But it isn’t because I think you know what you are talking about, both in general and in terms of me personally.

As for Forbes, they don’t list Lore. It is simply a yes or no and they picked no.
They picked no in real time.
They picked no in 2023 list.
They don’t have him as having 4b. They had him as having above 500m, but again that is a very different number.

It seems a real strange stretch to base a valuation for Lore on Forbes that is disputed by .. Forbes.
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#602 » by Nick K » Sun Mar 31, 2024 3:33 pm

Saltine wrote:Lore owns %27 of the Wolves. The Wolves current valuation in the deal they just struck with the new investors is $2.3 billion. So Lore has at least $621 million in net worth just from the Wolves, without Walmart stocks, Wonder (raised $1.8 billion so far), properties (his tribeca penthouse is worth over $50 million), etc... which means he is a billionaire.
https://streeteasy.com/building/443-greenwich-street-new_york/pha

Very silly stuff going on around here. :roll:

It not just ARod and Lore, Eric is the other guy. Eric is worth around $30 billion.
https://www.bloomberg.com/billionaires/profiles/eric-e-schmidt/?embedded-checkout=true

I suppose he's not liquid either?
:lol:


TOUCHE'! All good points.
I'll expand on that.

Dec. 29 2023. Former Google CEO Eric Schmidt is among those joining Alex Rodriguez and Marc Lore in the next round of their step-by-step purchase of the Minnesota Timberwolves, according to someone familiar with the negotiations.

RealGM Wiretap
Former Google CEO Eric Schmidt Joins New Wolves' Ownership Group

Dec 29, 2023 1:46 PM


Eric Schmidt has joined Marc Lore and Alex Rodriguez as part of their ownership group to purchase the Minnesota Timberwolves.

Lore and Rodriguez have been looking to raise money ahead of their next call option where they will purchase an additional 40 percent in the franchise.

The duo raised at least some of the money in this round at a $2.1 billion valuation. Lore and Rodriguez purchased the Wolves in 2021 at a $1.5 billion valuation.

Schmidt served as CEO and chairman of Google from 2001 to 2011, staying on as chairman through 2015. Schmidt was recently part of the ownership group to purchase the NFL's Washington Commanders.

#104 Forbes, Eric Schmidt, $16.2 Billion. 2023.
-----------------------------------------------------

Anyone who doesn't think the Lo/Rod group doesn't have solid financial backing to successfully run the Wolves is poorly informed.
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#603 » by Nick K » Sun Mar 31, 2024 3:48 pm

thinktank wrote:
HartfordWhalers wrote:
Nick K wrote:
To say these guys are not wealthy is preposterous to begin with. If this guy knew what he was talking about he should have said at minimum that they are not liquid. Lore is worth 4 billion according to Forbes.


You sure about that? Mind including a reference because...

1) He isn't included in the billionaire list when I look at the real time rankings: https://www.forbes.com/real-time-billionaires/#27f3b8243d78

2) He isn't included in the billionaire list when I look at the end of 2023: https://www.forbes.com/billionaires/

3) Forbes instead describes him as worth considerably less than your 4B figure:
But Lore, who is worth more than $500 million

https://www.forbes.com/sites/noahkirsch/2021/07/01/electric-jets-underground-garbage-and-no-land-ownership-welcome-to-marc-lores-city-of-the-future/?sh=1f44c8b16c12

4) Any calculation I have seen that gets to 4B includes ~3B that Lore was absolutely not paid.

5) Similarly, other public sources peg him at less than a billion in Net worth, such as:
Marc E. Lore has an estimated net worth of $642 Million.

https://www.benzinga.com/sec/insider-trades/0001684616/marc-e-lore

It is just that all the research I have seen makes it look like you are just wrong, so would appreciate you sharing what you have seen that contradicts Forbes itself.


Your Bezinga link:

“ Who is Marc E. Lore?
Marc E. Lore has an estimated net worth of $642 Million. This is based on reported shares across multiple companies, which include Walmart Inc., and Archer Aviation Inc..”

This valuation is only based on “shares of stock”?

Nobody here or anywhere, with any money, owns only “shares of stock”.

I can tell you personally that I’m worth a fat chunk that I could maybe retire on today as a 46 year old who has worked as a consultant for just about 20 years and I don’t have ANY shares of stock. Zero.

Tell me you understand that smart people are heavily invested into assets that span across the market as well as different financial product types.

For real.

If someone has 642 million worth of stock, they’re likely worth MUCH MORE than that.


That is so true. I'm not rich but I've spent my whole life in the financial business as a NY stock exchange registered rep and Insurance exec. Based on my experience I wouldn't question the financial viability of the Lo/Rod group of partners. These are sharp, savvy business people who will operate the Wolves franchise 100 times better than Glen Taylor. They have more than demonstrated that so far.

I have supported and defended Glen Taylor all these years so what he has done is revolting to me. Even if he thinks he can get out on a technicality it is wrong morally and ethically. I can't express how disappointed I am in him. It's time to change ownership and have them buy Glen out entirely.
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#604 » by shrink » Sun Mar 31, 2024 3:53 pm

thinktank wrote:I can tell you personally that I’m worth a fat chunk that I could maybe retire on today as a 46 year old who has worked as a consultant for just about 20 years and I don’t have ANY shares of stock. Zero.

Tell me you understand that smart people are heavily invested into assets that span across the market as well as different financial product types.

I have a hard time getting my head around this, especially for a 46 year old.

If you don’t mind sharing a little more, have you put all your wealth into some other type of investment that doesn’t use stock? You don’t even own a small amount as a diversification tool to mitigate some risk?
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#605 » by Nick K » Sun Mar 31, 2024 3:54 pm

thinktank wrote:
HartfordWhalers wrote:
thinktank wrote:
I’m sure it is but what percent of your portfolio is in individual stocks, for example?

I bet it’s nowhere near 50% and you know I’m right.

If Lore has 650 million in stock I would guess he’s worth at least double that amount and likely triple, minimum.

The first 10 years of my career I worked at a fortune 250 financial firm so I know my ****. Automated 98% of their brokerage new business. Bring this topic on, my friend.


It’s weird how then Forbes knows less than you and doesn’t list him as a billionaire.
But you seem so sure, you must be right.


Forbes has multiple valuations for Lore.

One said 4 billion plus.

You’re choosing not to answer my question about what percent of your portfolio is in individual stocks. ;)

Nobody in their right mind is invested 100% in stocks. You know this.


I don't think he does know this. I wonder what "Hartford Whalers" does for a living? Does he have your experience in the financial business? Or mine for that matter. We have earned the right to have an opinion on this topic.
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#606 » by HartfordWhalers » Sun Mar 31, 2024 4:14 pm

Nick K wrote:
thinktank wrote:
HartfordWhalers wrote:
It’s weird how then Forbes knows less than you and doesn’t list him as a billionaire.
But you seem so sure, you must be right.


Forbes has multiple valuations for Lore.

One said 4 billion plus.

You’re choosing not to answer my question about what percent of your portfolio is in individual stocks. ;)

Nobody in their right mind is invested 100% in stocks. You know this.


I don't think he does know this. I wonder what "Hartford Whalers" does for a living? Does he have your experience in the financial business? Or mine for that matter. We have earned the right to have an opinion on this topic.


I feel very comfortable with my financial knowledge. :)

Now, as to why Forbes should not be trusted on what Forbes believes Lore is worth, I'm still confused. It seems such a strange think to even have to say. So, if you two want to actually address why we shouldn't believe Forbes for what Forbes thinks Lore is worth, I would appreciate the listen. Or just tell me more about your 0% stock retirement strategy, maybe you will teach me a thing or two there as well.
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#607 » by thinktank » Sun Mar 31, 2024 4:19 pm

I’m caught up on everyone’s posts.

Let’s use additional logic:

If Lore and ARod weren’t good for it, then doesn’t that make Taylor look like an even bigger idiot than he already is?

So why would we not trust Taylor then but trust him now?

It makes no sense.

It’s a very basic point to understand that Forbes looked at individual stock value to use as a conservative approach at estimating Lore’s value.

That’s what they know for sure. But that definitely doesn’t mean he doesn’t have more assets.

To shrink, investors frequently invest in managed funds, mutual funds, etc. that are made up of tranches of different investments.

Do they also own individual stocks? Yes.

But there’s less risk in diversifying by purchasing managed products with a mix of assets.

So Lore had ~700 million in stock and he’s got at least ~400 or 500 million in the Wolves.

Plus he’s got Wonder and a bunch of other assets.

Taylor agreed to sell the team to him via this contract.

All of these facts tell us Lore has well over a billion dollars.

You don’t need to be a financial expert to know that. But it helps.
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#608 » by thinktank » Sun Mar 31, 2024 4:24 pm

HartfordWhalers wrote:
Nick K wrote:
thinktank wrote:
Forbes has multiple valuations for Lore.

One said 4 billion plus.

You’re choosing not to answer my question about what percent of your portfolio is in individual stocks. ;)

Nobody in their right mind is invested 100% in stocks. You know this.


I don't think he does know this. I wonder what "Hartford Whalers" does for a living? Does he have your experience in the financial business? Or mine for that matter. We have earned the right to have an opinion on this topic.


I feel very comfortable with my financial knowledge. :)

Now, as to why Forbes should not be trusted on what Forbes believes Lore is worth, I'm still confused. It seems such a strange think to even have to say. So, if you two want to actually address why we shouldn't believe Forbes for what Forbes thinks Lore is worth, I would appreciate the listen. Or just tell me more about your 0% stock retirement strategy, maybe you will teach me a thing or two there as well.


Funds are made up of stocks but funds are not individually owned stocks.

That’s very basic finance.
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#609 » by HartfordWhalers » Sun Mar 31, 2024 4:30 pm

thinktank wrote:
HartfordWhalers wrote:
Nick K wrote:
I don't think he does know this. I wonder what "Hartford Whalers" does for a living? Does he have your experience in the financial business? Or mine for that matter. We have earned the right to have an opinion on this topic.


I feel very comfortable with my financial knowledge. :)

Now, as to why Forbes should not be trusted on what Forbes believes Lore is worth, I'm still confused. It seems such a strange think to even have to say. So, if you two want to actually address why we shouldn't believe Forbes for what Forbes thinks Lore is worth, I would appreciate the listen. Or just tell me more about your 0% stock retirement strategy, maybe you will teach me a thing or two there as well.


Funds are made up of stocks but funds are not individually owned stocks.

That’s very basic finance.


Sure.

I don’t have ANY shares of stock. Zero.


This would normally suggest actually not owning stock, not owning it indirectly. It appears I mistakenly took you at your word, Forbes at their word, and failed to use alternate meanings in both instances.
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#610 » by Nick K » Sun Mar 31, 2024 4:36 pm

HartfordWhalers wrote:
Nick K wrote:
thinktank wrote:
Forbes has multiple valuations for Lore.

One said 4 billion plus.

You’re choosing not to answer my question about what percent of your portfolio is in individual stocks. ;)

Nobody in their right mind is invested 100% in stocks. You know this.


I don't think he does know this. I wonder what "Hartford Whalers" does for a living? Does he have your experience in the financial business? Or mine for that matter. We have earned the right to have an opinion on this topic.


I feel very comfortable with my financial knowledge. :)

Now, as to why Forbes should not be trusted on what Forbes believes Lore is worth, I'm still confused. It seems such a strange think to even have to say. So, if you two want to actually address why we shouldn't believe Forbes for what Forbes thinks Lore is worth, I would appreciate the listen. Or just tell me more about your 0% stock retirement strategy, maybe you will teach me a thing or two there as well.


I'm not going to waste my time further. I've laid out in detail the overall financial backing of the Lo/rod group including Dyal group and former Google CEO Eric Schmidt. Splitting hairs on Lore's net worth is meaningless! You have to look at the ownership group in total.

I've described my business.credentials. You haven't. BTW, I'm not comfortable with your financial knowledge. Quite the contrary. However, you are entitled to you own opinion. I respect that. I just think you are misguided here and your argument is fauty. Nothing more. Regards.
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#611 » by thinktank » Sun Mar 31, 2024 4:37 pm

“ This would normally suggest actually not owning stock, not owning it indirectly. It appears I mistakenly took you at your word, Forbes at their word, and failed to use alternate meanings in both instances.”

That’s some obfuscation that I’m not following.

I’m simply saying that it would be highly unlikely for someone like Lore to have a portfolio comprised of only individual stocks.

Take that Forbes valuation with a huge grain of salt. It’s highly unlikely that 650 million worth of individual stocks comprise ALL of Lore’s assets. Period.

You don’t get to be in position to buy an NBA team by only owning individual stocks. No way.

EDIT: It wouldn’t surprise me if that Bezinga piece is actually AI plugged into the stock market and Bezinga’s website. Seems like an algorithm to me.
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#612 » by shrink » Sun Mar 31, 2024 4:53 pm

thinktank wrote:To shrink, investors frequently invest in managed funds, mutual funds, etc. that are made up of tranches of different investments.

Do they also own individual stocks? Yes.

But there’s less risk in diversifying by purchasing managed products with a mix of assets.

Ok, this is just a semantics difference. I own funds as well, including stock funds, but I just consider that owning stocks.
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#613 » by thinktank » Sun Mar 31, 2024 4:55 pm

shrink wrote:
thinktank wrote:To shrink, investors frequently invest in managed funds, mutual funds, etc. that are made up of tranches of different investments.

Do they also own individual stocks? Yes.

But there’s less risk in diversifying by purchasing managed products with a mix of assets.

Ok, this is just a semantics difference. I own funds as well, including stock funds, but I just consider that owning stocks.


Bezinga specifically references shares of stocks.

Estimate Recalculated Mar 29, 2024 03:22PM EST
Who is Marc E. Lore?
Marc E. Lore has an estimated net worth of $642 Million. This is based on reported shares across multiple companies, which include Walmart Inc., and Archer Aviation Inc..

(Again, that seems like AI or automation—“estimate recalculated”)
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#614 » by shrink » Sun Mar 31, 2024 5:07 pm

thinktank wrote:Let’s use additional logic:

If Lore and ARod weren’t good for it, then doesn’t that make Taylor look like an even bigger idiot than he already is?

So why would we not trust Taylor then but trust him now?

It makes no sense.

What? This is horrible logic!

If you think Taylor “is an idiot,” then why does trusting Lore in 2021 that Lore could raise the money make it MORE likely Lore is telling the truth now?

And if you think Taylor is smart, then why would you disbelieve now? When he says Lore had three years and couldn’t make the final payment, why is he “smart Taylor” suddenly wrong?

The difference isn’t Taylor consistency (whichever way you choose on him) - it’s that time passes and Lore’s financial position changes.

Neither pathway LOGICALLY improves your case that Lore has the money!
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#615 » by thinktank » Sun Mar 31, 2024 5:11 pm

shrink wrote:
thinktank wrote:Let’s use additional logic:

If Lore and ARod weren’t good for it, then doesn’t that make Taylor look like an even bigger idiot than he already is?

So why would we not trust Taylor then but trust him now?

It makes no sense.

What? This is horrible logic!

If you think Taylor “is an idiot,” then why does trusting Lore in 2021 that Lore could raise the money make it MORE likely Lore is telling the truth now?

And if you think Taylor is smart, then why would you disbelieve now? When he says Lore had three years and couldn’t make the final payment, why is he “smart Taylor” suddenly wrong?

Neither pathway LOGICALLY improves your case that Lore has the money!


I think I agree with you there.

That’s why I think it’s interesting for you Taylor bobos. ;) Can’t trust him then and not now, or now and not then. Ie ignore Taylor. Can’t trust him. Guy has lied and literally cost us draft picks. He can’t be trusted.

I look at the Bezinga thing and that tells me Lore is worth much more than that. That’s my common sense and experience consulting for a fortune 250 finance company.
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#616 » by shrink » Sun Mar 31, 2024 5:15 pm

The other issue I have with these net worth discussions is that we know Lore and ARod are choosing to go borrow money to try to complete this deal, at every deadline. (Why?).

Moreover, people are talking about net worth without any discussion on their debt. In simple terms, if I put 20% down on a $500,000 house, and borrow the rest from the bank, I’m not worth $500,000 - I have $100,000 in new worth, and none of it is liquid to go buy a basketball team.
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#617 » by shrink » Sun Mar 31, 2024 5:19 pm

thinktank wrote:
shrink wrote:
thinktank wrote:Let’s use additional logic:

If Lore and ARod weren’t good for it, then doesn’t that make Taylor look like an even bigger idiot than he already is?

So why would we not trust Taylor then but trust him now?

It makes no sense.

What? This is horrible logic!

If you think Taylor “is an idiot,” then why does trusting Lore in 2021 that Lore could raise the money make it MORE likely Lore is telling the truth now?

And if you think Taylor is smart, then why would you disbelieve now? When he says Lore had three years and couldn’t make the final payment, why is he “smart Taylor” suddenly wrong?

Neither pathway LOGICALLY improves your case that Lore has the money!


I think I agree with you there.

That’s why I think it’s interesting for you Taylor bobos. ;) Can’t trust him then and not now, or now and not then.

There is a consistent argument for Taylor. He believed Lore in 2021 when they said they could raise the money in 3 years.

And if you believe Taylor has bad judgement, then you have to be scared to death in his assessment of his most important issue - that he wanted to sell the team to new owners that would KEEP THE TEAM IN MINNESOTA.
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#618 » by KGdaBom » Sun Mar 31, 2024 5:34 pm

Nick K wrote:
KGdaBom wrote:
guest81 wrote:The more that comes out the more it looks like Lore and arod have the legal right. My prediction is that the ultimately become the owners but throw in something extra to Glen in order for him to save face

I think that would have to be an out of court settlement. I'm very concerned that if A Rod and Lore get the team they won't have the financial capability to operate it.


I honestly don't understand that thinking. Do you actually think the NBA would approve any purchase of a team from poorly funded owners? The NBA has already done due diligence on Lo/Rod financial condition. Plus, you can bet Glen Taylor had his own people check out the financial viability to begin with.

Then you apparently forget the Dyal group and their financial viability. The league has already approved their financial worthiness. The paperwork for the deal was submitted to the league early last week well ahead of the deadline as reported nationally.

Further, do you actually think the Dyal group would invest 300 million of their dollars to a Lo/Rod group that wasn't capable of operating the team? I just don't get this "they don't have the money" argument. It defies common logic.

You also seen to forget Taylor himself didn't pay cash for in full for the Wolves when he bought it. He had several limited partners too.

Glen is just trying to back out of a "good faith deal". That alone says much about him. Not to mention Glen taking credit for the success of the team when he was against the Gobert trade and the Connelly hire. I question Glen's state of mind at age 82.

They would probably be the least funded team in the NBA. The Dyal Group has been involved in some NBA financing, but I hear this funding is a high interest leveraged loan that the Board of Governors might not approve.
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#619 » by KGdaBom » Sun Mar 31, 2024 5:38 pm

Mattya wrote:
KGdaBom wrote:
Mattya wrote:The fact that Taylor wont allow Lore and ARod in certain parts of the arena, and wont let staff communicate with them is the tell that Taylor is in the wrong here. Taylor had sellers remorse, plus was jealous of the popularity and success under those two. Hopefully the board of governors and the other owners can force this guy out.

That's not a tell at all. One thing seems obvious. The Board of Governors will not approve the sale with a huge part of the sale being a high interest loan from the Dyal Group.


It’s very obvious a tell. Why would you not allow your co owners speak to staff or be in the building if this isn’t Taylor’s massively inflated ego?

Because they are in litigation against him. Duh.
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Re: [Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves 

Post#620 » by KGdaBom » Sun Mar 31, 2024 5:44 pm

Nick K wrote:
HartfordWhalers wrote:
Nick K wrote:
I don't think he does know this. I wonder what "Hartford Whalers" does for a living? Does he have your experience in the financial business? Or mine for that matter. We have earned the right to have an opinion on this topic.


I feel very comfortable with my financial knowledge. :)

Now, as to why Forbes should not be trusted on what Forbes believes Lore is worth, I'm still confused. It seems such a strange think to even have to say. So, if you two want to actually address why we shouldn't believe Forbes for what Forbes thinks Lore is worth, I would appreciate the listen. Or just tell me more about your 0% stock retirement strategy, maybe you will teach me a thing or two there as well.


I'm not going to waste my time further. I've laid out in detail the overall financial backing of the Lo/rod group including Dyal group and former Google CEO Eric Schmidt. Splitting hairs on Lore's net worth is meaningless! You have to look at the ownership group in total.

I've described my business.credentials. You haven't. BTW, I'm not comfortable with your financial knowledge. Quite the contrary. However, you are entitled to you own opinion. I respect that. I just think you are misguided here and your argument is fauty. Nothing more. Regards.

It seems that Lore and A Rod don't have their own money they need to rely on Schmidt and Dyal Group. I'd prefer having the owners actually be the people with the financial investment than investors into their investment.

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