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

[shrink]

Using Glen’s money to do it. But he didn’t say no.

This is like a 12-year old saying, “look how generous my classmate is! We had a party at his beautiful house, and he spent hundreds of dollars on food drink and a live DJ! I bet if I ask next year, he’d buy me a pony!”

This is dumb. Lore and arod has already paid like 600 million so fair and was gonna get 1.5 billion. Spending 8 million for a guy is literally pennies in that context.

To use an analogy, it's like if I agreed to buy you a house, but you bought me a cup a coffee so you should get a bunch of credit for spending

No. They paid TAYLOR that money, not the team.

For example, they hired Tim Conley and promised him $8 mil a year, so in the first two years, Connelly got $16 mil.
Lore paid Connelly $1.6 + $2.9 so $4.5 mil. Taylor (and some limited partners) wrote checks for $11.5.


Using your analogy, Lore put a down some money on a house, and agreed to buy it in a few years, told the current owner he wanted a stylish patio, made the current owner pay the bulk of the patio he picked out, isn’t reimbursing the owner for the extra value it brings the house, and then told visitors “Enjoy the patio I brought for the house!”

[shrink]

Thinktank, you opened this door by choosing to con people about your financial expertise by posting these statements

The first 10 years of my career I worked at a fortune 250 financial firm so I know my ****

.. but didn’t mention, “not in a financial role.” Does a custodian in that building also know his *****?

You don’t need to be a financial expert to know that. But it helps.

.. but didn’t mention “since I am not a financial expert.”

To me, you are again implying expertise in a topic you don’t have, again by proximity, not knowledge. With KFAN’s RubeChat long gone, I can’t quote your posts, but they are hard to forget. I am acutely aware from these two quotes that I need to pay attention to what you omit. So I mentioned two specific facts them you didn’t refute. Was your dad an activist (or have you claimed he was?). And what zip code did you live in?

Finally, don’t try to sound smart using vocabulary you don’t quite understand. It backfires. “Fallacy of my memory?” No, its true, I actually have a memory. Did you mean “fallability?”

[younggunsmn]

Hat tip to hartordwhalers, he found a link that says Lore owned 25% of Jet at time of acquisition.
https://digiday.com/marketing/walmarts-acquisition-jet-winners-losers/
This link backs that up, says he could make 750 million to 1 billion from its sale.
https://www.vox.com/2016/8/10/12423902/walmart-jet-marc-lore-ceo-package-deal-terms

Deal was for 3 billion + 300 million in walmart stock.

So Lore would have earned 750 million plus 75 million of Walmart stock, which is probably worth double now.

So with his payout from Diapers.com, I'd put him at 1.1 billion minus his investments into Jet and later companies, taxes, alimony, 50 million dollar penthouse, etc.

Not a lot to own a 2.5 billion dollar franchise.

I find it curious why you just talk about Lore and his money. You don't have any idea of how much money he has. You're just guessing based on what you've been able to amateur sleuth on the internet or glean from other internet opinions that probably have no idea either.

Why aren't you talking about the other people that make up the buying group? Such as Arod, the Dyal Group, and Eric Schmidt? They have a pot full of money if needed. Are you worried about Lo/Rod not being able to cover operating expenses? I don't get your squabble.

I do get that you have an irrational dislike for the new proposed ownership group. That's ok by me just come out and say it.

I can't fathom the new proposed ownership group not having more than enough money to fund the team and pay the players big money. So what's the real issue here?

1. There have been whispers from prominent people for 2+ years including Jon K that there are rumors around the league that Lore does not have the money. How much money Mark Lore has is a BIG GODDAMN DEAL to the future of the franchise if he succeeds in his bid.
Being strapped for cash can lead to all kinds of negative consequences like cutting payroll, squeezing the city and state for new arena funding, moving the team, being forced to sell the team to someone who wants to move it to name a few.
My "amateur sleuthing" is most likely pretty damn accurate.
2. They have had since September to close this and couldn't meet the march 27 deadline to write the damn check.
3. Marc Lore is supposed to be the PRINCIPAL OWNER of the group purchasing the Timberwolves. That means he needs to get to 50+ percent.
If the team needs to borrow money to make payroll/meet expenses in the future, Lore can't go to others for investment without diluting his ownership stake. He's the one guy who needs to be rock solid financially. All of these other guys are just moving parts.
4. You guys seem to think the stock market is like the powerball or something, like you can just turn 10x profit every couple years and it's silly to pin your hopes on Lore's ability to play the stock market. That's not what he does.
He starts up annoying knock off companies and gets the behemoths to buy them out to make them go away.
5. If a guy is spending 1.2 billion on the Timberwolves, to be comfortable, I'd like him to have at least that much in cash on hand/liquid assets, or 5-10X that in net worth.
I don't think you all realize the shock it would be going from an owner who paid 94 million for an asset that is worth 25x purchase price to owners who paid over a billion dollars for it. The pressure to make that asset profitable will be immense.
This isn't some billionaire's playtoy for them.

I've laid this all out in great detail in this thread.
The people who don't want to listen seem to be the ones acting with irrational emotion and calling Glen Taylor names, and don't seem to believe bad things can happen in the world.

The North Stars got moved. The Twins were damn near contracted. The wolves were almost moved to New Orleans.
But people forget. We like to trash our ownership, whether it's the Pohlads or Glen Taylor and forget about all the sad shenanigans that have gone on here and in many other cities.

I don't like Glen Taylor, you aren't wrong to call him a greedy old snake. But he also has a history of doing really dumb things and getting into the basketball business with really dumb and worthless people like David Kahn and Kurt Rambis to name a couple.
I believe he was really dumb to sell the team to the Lore/Rod group, especially in the ridiculous prolonged 3 year 3 part saga.
It was bound to fail.

But Glen may be the lesser of two evils. The franchise has been stable in his hands and there is no question about his willingness to keep the team here or ability to write the checks.
Lore/Rodriguez have the potential to do much more damage to the franchise. And that is what worries me.
Saying the right things and having a part in hiring a couple good people doesn't change that for me.

[thinktank]

Thinktank, you opened this door by choosing to con people about your financial expertise by posting these statements

The first 10 years of my career I worked at a fortune 250 financial firm so I know my ****

.. but didn’t mention, “not in a financial role.” Does a custodian in that building also know his *****?

You don’t need to be a financial expert to know that. But it helps.

.. but didn’t mention “since I am not a financial expert.”

To me, you are again implying expertise in a topic you don’t have, again by proximity, not knowledge. With KFAN’s RubeChat long gone, I can’t quote your posts, but they are hard to forget. I am acutely aware from these two quotes that I need to pay attention to what you omit. So I mentioned two specific facts them you didn’t refute. Was your dad an activist (or have you claimed he was?). And what zip code did you live in?

Finally, don’t try to sound smart using vocabulary you don’t quite understand. It backfires. “Fallacy of my memory?” No, it’s true, I actually have a memory. Did you mean “fallability?”

Had to plus one you for doubling down on your erroneous personal attack.

Fallacy: “a mistaken belief, especially one based on unsound argument.“

You’ve been reported to our mods for a continued personal attack (a false accusation and an attack my credibility, when I’ve been totally honest with you) that has nothing to do with the subject of this thread.

On topic:

I find it impossible to believe that Lore is worth only 650 million dollars because it is highly, highly unlikely that he owns ONLY individual shares of stock, and ZERO other assets of ANY KIND (no mutual funds, no managed accounts, no IRAs, no annuities, no bonds, no businesses, no real estate, no cash, etc., etc.). That is COMMON SENSE and you don’t need to be a financial expert to know that. But it helps. <—-ALL
TRUE.

Here is a list of different financial products from FINRA. Notice how stocks are only ONE of ELEVEN different types of financial products, to say nothing of ALL OTHER ASSET TYPES.



A personal attack won’t change the validity of that observation. A personal attack, in this case, is just a DISTRACTION from something someone doesn’t want to admit.

If anyone has a problem with that, they can feel free to disagree without making a personal attack—you know, debating with ideas. Can’t believe this needs to be said.

[Nick K]

Hat tip to hartordwhalers, he found a link that says Lore owned 25% of Jet at time of acquisition.
https://digiday.com/marketing/walmarts-acquisition-jet-winners-losers/
This link backs that up, says he could make 750 million to 1 billion from its sale.
https://www.vox.com/2016/8/10/12423902/walmart-jet-marc-lore-ceo-package-deal-terms

Deal was for 3 billion + 300 million in walmart stock.

So Lore would have earned 750 million plus 75 million of Walmart stock, which is probably worth double now.

So with his payout from Diapers.com, I'd put him at 1.1 billion minus his investments into Jet and later companies, taxes, alimony, 50 million dollar penthouse, etc.

Not a lot to own a 2.5 billion dollar franchise.

I find it curious why you just talk about Lore and his money. You don't have any idea of how much money he has. You're just guessing based on what you've been able to amateur sleuth on the internet or glean from other internet opinions that probably have no idea either.

Why aren't you talking about the other people that make up the buying group? Such as Arod, the Dyal Group, and Eric Schmidt? They have a pot full of money if needed. Are you worried about Lo/Rod not being able to cover operating expenses? I don't get your squabble.

I do get that you have an irrational dislike for the new proposed ownership group. That's ok by me just come out and say it.

I can't fathom the new proposed ownership group not having more than enough money to fund the team and pay the players big money. So what's the real issue here?

1. There have been whispers from prominent people for 2+ years including Jon K that there are rumors around the league that Lore does not have the money. How much money Mark Lore has is a BIG GODDAMN DEAL to the future of the franchise if he succeeds in his bid.
Being strapped for cash can lead to all kinds of negative consequences like cutting payroll, squeezing the city and state for new arena funding, moving the team, being forced to sell the team to someone who wants to move it to name a few.
My "amateur sleuthing" is most likely pretty damn accurate.
2. They have had since September to close this and couldn't meet the march 27 deadline to write the damn check.
3. Marc Lore is supposed to be the PRINCIPAL OWNER of the group purchasing the Timberwolves. That means he needs to get to 50+ percent.
If the team needs to borrow money to make payroll/meet expenses in the future, Lore can't go to others for investment without diluting his ownership stake. He's the one guy who needs to be rock solid financially. All of these other guys are just moving parts.
4. You guys seem to think the stock market is like the powerball or something, like you can just turn 10x profit every couple years and it's silly to pin your hopes on Lore's ability to play the stock market. That's not what he does.
He starts up annoying knock off companies and gets the behemoths to buy them out to make them go away.
5. If a guy is spending 1.2 billion on the Timberwolves, to be comfortable, I'd like him to have at least that much in cash on hand/liquid assets, or 5-10X that in net worth.
I don't think you all realize the shock it would be going from an owner who paid 94 million for an asset that is worth 25x purchase price to owners who paid over a billion dollars for it. The pressure to make that asset profitable will be immense.
This isn't some billionaire's playtoy for them.

I've laid this all out in great detail in this thread.
The people who don't want to listen seem to be the ones acting with irrational emotion and calling Glen Taylor names, and don't seem to believe bad things can happen in the world.

The North Stars got moved. The Twins were damn near contracted. The wolves were almost moved to New Orleans.
But people forget. We like to trash our ownership, whether it's the Pohlads or Glen Taylor and forget about all the sad shenanigans that have gone on here and in many other cities.

I don't like Glen Taylor, you aren't wrong to call him a greedy old snake. But he also has a history of doing really dumb things and getting into the basketball business with really dumb and worthless people like David Kahn and Kurt Rambis to name a couple.
I believe he was really dumb to sell the team to the Lore/Rod group, especially in the ridiculous prolonged 3 year 3 part saga.
It was bound to fail.

But Glen may be the lesser of two evils. The franchise has been stable in his hands and there is no question about his willingness to keep the team here or ability to write the checks.
Lore/Rodriguez have the potential to do much more damage to the franchise. And that is what worries me.
Saying the right things and having a part in hiring a couple good people doesn't change that for me.

I pretty much disagree with everything you said. Its my opinion you are talking out of your azz. That's ok, it's your opinion. It just seems to me you have little clue. I'm sure you believe you in your position so we will agree to disagree.

There is an old saying that goes..."a man's opinion changed against his will is of the same opinion still".

So go ahead and believe what you want. If one day the Lo/Rod group owns the club you will say to yourself, what the hell was I thinking?

[HartfordWhalers]

Forbes published an updated list today of billionaires today, finding that 2,781 people worldwide qualify.

(For those that want to cite Forbes as a source.)

[shrink]

I find it impossible to believe that Lore is worth only 650 million dollars because it is highly, highly unlikely that he owns ONLY individual shares of stock, and ZERO other assets of ANY KIND (no mutual funds, no managed accounts, no IRAs, no annuities, no bonds, no businesses, no real estate, no cash, etc., etc.). That is COMMON SENSE and you don’t need to be a financial expert to know that. But it helps. <—-ALL
TRUE.

Here is a list of different financial products from FINRA. Notice how stocks are only ONE of ELEVEN different types of financial products, to say nothing of ALL OTHER ASSET TYPES.

Why in the world do you believe that that Forbes (of a places!) assessment of Lore’s net worth is only stock?!?!

https://www.forbes.com/sites/chasewithorn/2023/10/03/2023-forbes-400-methodology-how-we-crunch-the-numbers/?sh=56e17d796b95

[Battletrigger]

Forbes published an updated list today of billionaires today, finding that 2,781 people worldwide qualify.

(For those that want to cite Forbes as a source.)

No idea of how that list is made. But what they consider Billionaire worldwide? 12 or 9 zeros?

[BlacJacMac]

The whole thing is weird. It seems like every reference to Lore being worth 4 Billion is based on that's what he told the NBA he was worth.

Yet no numbers anywhere else seem to support that theory.

I want Lore to be the guy he says he is, but I'm getting more and more worried he's just a 21st century P.T. Barnum.

[thinktank]

I find it impossible to believe that Lore is worth only 650 million dollars because it is highly, highly unlikely that he owns ONLY individual shares of stock, and ZERO other assets of ANY KIND (no mutual funds, no managed accounts, no IRAs, no annuities, no bonds, no businesses, no real estate, no cash, etc., etc.). That is COMMON SENSE and you don’t need to be a financial expert to know that. But it helps. <—-ALL
TRUE.

Here is a list of different financial products from FINRA. Notice how stocks are only ONE of ELEVEN different types of financial products, to say nothing of ALL OTHER ASSET TYPES.

Why in the world do you believe that that Forbes (of a places!) assessment of Lore’s net worth is only stock?!?!

https://www.forbes.com/sites/chasewithorn/2023/10/03/2023-forbes-400-methodology-how-we-crunch-the-numbers/?sh=56e17d796b95

Thank you for not continuing your personal attack and getting back to debating with ideas.

Because Bezinga has a similar 650 number as Forbes and it says that was based on individual stock shares only.

“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..

SEC CIK
Marc E. Lore's CIK is 0001684616“

From Forbes: “ But Lore, who is worth more than $500 million”.

I answered your question. Now you answer mine:

Do you think Lore owns any other assets besides stock shares?

If yes, how much would you guess?

Also, what average percentage of ultra rich people’s portfolio is comprised of stock shares?



This study says only 18% of the average ultra rich person’s portfolio consists of equities (stocks).

That would mean that, based on Bezinga’s SEC data, and this study of the ultra rich asset portfolios, that Lore is worth as much as 5 times as much as the stock he owns.

650 million x 5 = 3.25 billion

Another article about portfolio composition of the ultra rich:

https://www.businessinsider.com/how-the-worlds-richest-people-invest-their-money-2023-3?amp

So, per Bezinga, we KNOW Lore has 650 million in shares.

And we know what an average ultra rich persons asset portfolio looks like.

So do the math.

[shrink]

I find it impossible to believe that Lore is worth only 650 million dollars because it is highly, highly unlikely that he owns ONLY individual shares of stock, and ZERO other assets of ANY KIND (no mutual funds, no managed accounts, no IRAs, no annuities, no bonds, no businesses, no real estate, no cash, etc., etc.). That is COMMON SENSE and you don’t need to be a financial expert to know that. But it helps. <—-ALL
TRUE.

Here is a list of different financial products from FINRA. Notice how stocks are only ONE of ELEVEN different types of financial products, to say nothing of ALL OTHER ASSET TYPES.

Why in the world do you believe that that Forbes (of a places!) assessment of Lore’s net worth is only stock?!?!

https://www.forbes.com/sites/chasewithorn/2023/10/03/2023-forbes-400-methodology-how-we-crunch-the-numbers/?sh=56e17d796b95

Thank you for not continuing your personal attack and getting back to debating with ideas.

Because Bezinga has a similar 650 number as Forbes and it says that was based on individual stock shares only.

“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..

SEC CIK
Marc E. Lore's CIK is 0001684616“

From Forbes: “ But Lore, who is worth more than $500 million”.

I answered your question. Now you answer mine:

Do you think Lore owns any other assets besides stock shares?

If yes, how much would you guess?

Also, what average percentage of ultra rich people’s portfolio is comprised of stock shares?.

Do you even know what net worth is? I’m sure Lore has other assets than stocks. I’m also sure he has other liabilities as well, as evidenced by all his borrowing. Different people have different portfolios, and different levels of debt, so speculating is silly. That’s why we have Forbes, who takes it all into account.

I specifically sent you a link with Forbes methodology! Did you read it. It’s not just stocks.

And finally, you didn’t answer my questions. When I challenged your slippery language about your credibility, I asked you to say what zip code you lived in then, and if you could claim your dad was an activist. Maybe you consider answering those questions a “personal attack”.

[HartfordWhalers]

I find it impossible to believe that Lore is worth only 650 million dollars because it is highly, highly unlikely that he owns ONLY individual shares of stock, and ZERO other assets of ANY KIND (no mutual funds, no managed accounts, no IRAs, no annuities, no bonds, no businesses, no real estate, no cash, etc., etc.). That is COMMON SENSE and you don’t need to be a financial expert to know that. But it helps. <—-ALL
TRUE.

Here is a list of different financial products from FINRA. Notice how stocks are only ONE of ELEVEN different types of financial products, to say nothing of ALL OTHER ASSET TYPES.

Why in the world do you believe that that Forbes (of a places!) assessment of Lore’s net worth is only stock?!?!

https://www.forbes.com/sites/chasewithorn/2023/10/03/2023-forbes-400-methodology-how-we-crunch-the-numbers/?sh=56e17d796b95

Thank you for not continuing your personal attack and getting back to debating with ideas.

Because Bezinga has a similar 650 number as Forbes and it says that was based on individual stock shares only.

“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..

SEC CIK
Marc E. Lore's CIK is 0001684616“

From Forbes: “ But Lore, who is worth more than $500 million”.

I answered your question. Now you answer mine:

Do you think Lore owns any other assets besides stock shares?

If yes, how much would you guess?

Also, what average percentage of ultra rich people’s portfolio is comprised of stock shares?



This study says only 18% of the average ultra rich person’s portfolio consists of equities (stocks).

That would mean that, based on Bezinga’s SEC data, and this study of the ultra rich asset portfolios, that Lore is worth as much as 5 times as much as the stock he owns.

650 million x 5 = 3.25 billion

Another article about portfolio composition of the ultra rich:

https://www.businessinsider.com/how-the-worlds-richest-people-invest-their-money-2023-3?amp

So, per Bezinga, we KNOW Lore has 650 million in shares.

And we know what an average ultra rich persons asset portfolio looks like.

So do the math.

I feel like your math has been questionable so far, so that might not be the cliffhanger you want to end a post on.

It started with 'Forbes has Lore worth 4B' when Forbes had Lore worth < 1B. Thankfully we got that cleared up, and now it is ...
'Forbes has Lore worth less than 1b and less than 1b = 4b or so...'

As for the Bezinga article, you seem to be misunderstanding the material you are talking about. It does not have Lore as having 650m in current stock. It had that, when he made his money, he was worth ~650m.

As for what he owns now in stock? As of now, the only thing the article confirms him holding in individual stock is about ~123m in Archer Aviation.

He owned 3 years ago 160m in Walmart, having already sold most of his Walmart and selling regularly. He doesn't have to report his sales since then, so he could have those shares or more likely, he decided to reduce his equity exposure in a single stock and sold them, whether to buy a more diversified stock portfolio or to invest in his own companies as he has previously.

If we do your random extrapolation based off only known stock -- and I don't think any serious financial analysis should be doing this like you do and assuming that he is a random 'average ultra rich' -- it would leave Lore at 123m x 5 = 615m.

Of course, I really do want to highlight just how shaky your multiply by 5 approach is to a single individual.
Lore didn't randomly start with a billion dollars and decide how much to invest in stock, and spread his money around until he had a nice equal distribution of what you believe he should have. He started with making that much from Walmart, and has been slowly spreading his money -- by all reports into his companies.

For those curious, in addition to the Timberwolves ownership we have reported that:

Lore has personally invested around $300 million in debt and equity, including $100 million this round.

https://www.wsj.com/business/wonder-marc-lores-food-delivery-startup-raises-700-million-dc5e1e60#:~:text=Lore%20founded%20Wonder%20in%202018,including%20%24100%20million%20this%20round.

Also, apparently ESPN also isn't doing a random how about we take a guy known to have made ~500m and multiply it by 5-8 approach.

Neither Lore nor Rodriguez are billionaires. A majority of Lore's wealth comes from selling Jet.com to Wal-Mart in 2016, which netted him $477 million, per SEC filings.

https://www.espn.com/nba/story/_/id/39857620/minnesota-timberwolves-sale-next

[thinktank]

Why in the world do you believe that that Forbes (of a places!) assessment of Lore’s net worth is only stock?!?!

https://www.forbes.com/sites/chasewithorn/2023/10/03/2023-forbes-400-methodology-how-we-crunch-the-numbers/?sh=56e17d796b95

Thank you for not continuing your personal attack and getting back to debating with ideas.

Because Bezinga has a similar 650 number as Forbes and it says that was based on individual stock shares only.

“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..

SEC CIK
Marc E. Lore's CIK is 0001684616“

From Forbes: “ But Lore, who is worth more than $500 million”.

I answered your question. Now you answer mine:

Do you think Lore owns any other assets besides stock shares?

If yes, how much would you guess?

Also, what average percentage of ultra rich people’s portfolio is comprised of stock shares?.

Do you even know what net worth is? I’m sure Lore has other assets than stocks. I’m also sure he has other liabilities as well, as evidenced by all his borrowing. Different people have different portfolios, and different levels of debt, so speculating is silly. That’s why we have Forbes, who takes it all into account.

I specifically sent you a link with Forbes methodology! Did you read it. It’s not just stocks.

And finally, you didn’t answer my questions. When I challenged your slippery language about your credibility, I asked you to say what zip code you lived in then, and if you could claim your dad was an activist. Maybe you consider answering those questions a “personal attack”.

Nobody should have to answer personal questions here about what zip code they live in and what their father did for a living (he wasn’t an activist and I never claimed he was—your memory sucks).

Also, my dad died on Saturday so rightly **** off. You’re a compete ****, shrink.

You shouldn’t be talking about people’s parents or where people live.

Why you haven’t been given a timeout is beyond me.

[frankenwolf]

Holy S#*t, some of you guys are going off the deep end. I am not a Taylor fan and I am excited for Arod/Lore to own the majority of the team, which, theoretically, might still happen. I'm sure this will go to arbitration. To the person who said that Glen has been a steadying influence (my paraphrase) on this team, he has, but it has been a terrible team, overall. He now sees what can happen with decent, basketball people running the show and is having second thoughts about the sale. So, he says they missed a benchmark date and withdraws the sale. If Arod & Lore had the money upfront to purchase the team and did so (if Glen would have let them, which I highly doubt), Glen would be out as majority owner and the team would still be good because it is the TIMBERWOLVES who are spending the money, not Glen and not Arod/Lore.

Let's enjoy these Timberwolves and let the ownership figure itself out. Glen has always said he would let the team spend the money if the team was good enough, he apparently just wasn't willing to spend it to get it to good enough.

[thinktank]

Wolves sale price = 1.5 billion

ARod and Lore's agreement with Taylor outlines that they each need to own 30% (60% between the two of them) and 20% more in private equity. Taylor keeps 20%. 30 + 30 + 20 + 20 = 100.

30% of 1.5 billion = 450 million.

Forbes says Lore is worth AT LEAST 500 million.

Is AT LEAST 500 million greater than 450 million?

Yes!

The rest of this is just a wild goose chase distraction.

[BlacJacMac]

Wolves sale price = 1.5 billion

ARod and Lore's agreement with Taylor outlines that they each need to own 30% (60% between the two of them) and 20% more in private equity. Taylor keeps 20%. 30 + 30 + 20 + 20 = 100.

30% of 1.5 billion = 450 million.

Forbes says Lore is worth AT LEAST 500 million.

Is AT LEAST 500 million greater than 450 million?

Yes!

The rest of this is just a wild goose chase distraction.

That wouldn't be a huge red flag to you? That he could theoretically have a full 90% of his Net Worth tied up in Wolves ownership?

[guest81]

This is dumb. Lore and arod has already paid like 600 million so fair and was gonna get 1.5 billion. Spending 8 million for a guy is literally pennies in that context.

To use an analogy, it's like if I agreed to buy you a house, but you bought me a cup a coffee so you should get a bunch of credit for spending

No. They paid TAYLOR that money, not the team.

For example, they hired Tim Conley and promised him $8 mil a year, so in the first two years, Connelly got $16 mil.
Lore paid Connelly $1.6 + $2.9 so $4.5 mil. Taylor (and some limited partners) wrote checks for $11.5.


Using your analogy, Lore put a down some money on a house, and agreed to buy it in a few years, told the current owner he wanted a stylish patio, made the current owner pay the bulk of the patio he picked out, isn’t reimbursing the owner for the extra value it brings the house, and then told visitors “Enjoy the patio I brought for the house!”

I would say it's more hey this super expensive house has a hole in the roof of you could fix it before we move in.

They've paid Glen like 600 million to Glen personally, Glen paid 8 of that million to hire a PBO, who has significantly raised the value of the Timberwolves way past the 8 million that he was worth.

Not sure where your giving Glen this credit for. Wolves needed a gm, Glen was still the majority owner so of course he should of paid for it. Unless your suggesting that Glen would be in the right if he wanted to hire someone on the cheap like another David khan.

8 million is like 8 dollars to a guy life Glen. Add in All the money Lore and arod have given and would of gave, that 8 million becomes like 8 pennies

[guest81]

The whole thing is weird. It seems like every reference to Lore being worth 4 Billion is based on that's what he told the NBA he was worth.

Yet no numbers anywhere else seem to support that theory.

I want Lore to be the guy he says he is, but I'm getting more and more worried he's just a 21st century P.T. Barnum.

If he didn't have the money, why would he of tried to buy it in the first place if he didn't think he could afford it? Does that make sense to you?

[BlacJacMac]

The whole thing is weird. It seems like every reference to Lore being worth 4 Billion is based on that's what he told the NBA he was worth.

Yet no numbers anywhere else seem to support that theory.

I want Lore to be the guy he says he is, but I'm getting more and more worried he's just a 21st century P.T. Barnum.

If he didn't have the money, why would he of tried to buy it in the first place if he didn't think he could afford it? Does that make sense to you?

It wouldn't normally.

But the idea that he's been trying to raise the money by charging a much higher valuation, sure looks like he's trying to acquire the team with profits he can make before even owning the club.

[guest81]

The whole thing is weird. It seems like every reference to Lore being worth 4 Billion is based on that's what he told the NBA he was worth.

Yet no numbers anywhere else seem to support that theory.

I want Lore to be the guy he says he is, but I'm getting more and more worried he's just a 21st century P.T. Barnum.

If he didn't have the money, why would he of tried to buy it in the first place if he didn't think he could afford it? Does that make sense to you?

It wouldn't normally.

But the idea that he's been trying to raise the money by charging a much higher valuation, sure looks like he's trying to acquire the team with profits he can make before even owning the club.

That's arod, not Lore. But that it also how business works in today's capitalism society