NBA Rejected Glen Taylor's Bid To Sell Wolves To Private Equity Firm Arctos

[RealGM Wiretap]

The NBA shot down a pitch from Glen Taylor to sell the Minnesota Timberwolves to Arctos, a private equity firm formed in 2019.

Arctos was initially formed to buy small stakes in teams.

The idea was shot down because the NBA has not approved Arctos to date.

Arctos recently filed to raise money via a blank check company that will be used to buy stakes in teams that need capital to cover losses. 

Via Josh Kosman, Thornton McEnery/New York Post

[Theo Ratliff]

I guess 2 playoff series wins in 27 years finally got to him.

[hyberx]

I guess 2 playoff series wins in 27 years finally got to him.

To top it off, trading Wiggins + a top 3 RFP for DLo.

[RipCityKJ]

So hedge funds are now going to short pro sports teams? This sounds exactly like GameStop, they find teams that are struggling, buy low, never infest in the team and then just wait for their part of the shared revenue and team prices to rise more so they can sell high, all at the expense of the franchise, city and fans. This is another great move by Adam Silver to not let these snakes in suits destroy the NBA for a quick return on their investment.

[PerfectJab]

I bet Garnett is laughing.