Calinks wrote:So it sounds like Glen agreed to a poor deal to start. Maybe he got outsmarted, maybe it just turned out that way unexpectedly. Either way, it was a bad deal because in the timeframe the deal took place, the Wolves value damn near tripled. Now Glen is butthurt because he realizes he is getting hosed big time. He did not get where he is today by getting hosed. He's the hosser, not the hossee. So at his first legal opportunity, he has backed out of the deal because that's what a shrewd businessman does, that's how you become Glen Taylor.
Arod and Lore, who maybe had this plan from the start, get outplayed. now they are in a legal battle. Glen will probably win. Arod and Lore will probably back out in the end and sell their shares for a profit still, this was possibly a risk they were aware of from the start. It's still a win/win because they get some profit though it is a major blow to lose the team.
That's my current thoughts.
This is probably pretty accurate.
Someone like Glen doesn't do something like this without consulting a whole team of lawyers.
Arod and Lore probably walk away with 300-400 million cash if they can sell their shares of the team.
That's alot of money, but they probably aren't going to be able to go out and buy another sports team now.
It's going to be in court for a while and then we're going to have divided ownership with Glen owning just over half of the team with the potential to croak at any time, which would lead to a much bigger mess.
Not good at all. A real black eye for this sports market. The NBA needs to put all the pressure on Glen it can to push this through even if it means nudging the valuation a bit to get him a little extra money.
Unless Arod and Lore really are too poor to meet the operating expenses, in which case Glen never should have agreed to sell to them in the first place. We've seen that movie before with Red McCombs and the VIkings.