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Glen Taylor Not Selling the Team?

A place to discuss the MN Timberwolves
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UnFadeable21
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Glen Taylor Not Selling the Team?

Post by UnFadeable21 »



Looks like deals fell through or Glen just loves being an owner of an NBA franchise and his role of governors of the NBA.

I mean when your that old and already have more money then you can spend or do with; I guess it comes down that he loves being an owner.
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UnFadeable21
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Re: Glen Taylor Not Selling the Team?

Post by UnFadeable21 »

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Re: Glen Taylor Not Selling the Team?

Post by RubeTube »

Did anyone even have a serious offer that was going to keep them here?
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Philo Beddoe
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Re: Glen Taylor Not Selling the Team?

Post by Philo Beddoe »

Glen Taylor will die before he sells the team.

His family will sell to the highest bidder, who will then move the team out of Minnesota where they will win a championship.

This is how it works being a Timberwolves fan. I am surprised some of you still don't know this.
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swenjj
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Re: Glen Taylor Not Selling the Team?

Post by swenjj »

Philo Beddoe wrote: Tue Dec 01, 2020 4:52 am Glen Taylor will die before he sells the team.

His family will sell to the highest bidder, who will then move the team out of Minnesota where they will win a championship.

This is how it works being a Timberwolves fan. I am surprised some of you still don't know this.
Seems like it's gonna go that way.. probably around when we finally get good
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bubu dubu.
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Re: Glen Taylor Not Selling the Team?

Post by bubu dubu. »

Sergeant Rubetube wrote: Tue Dec 01, 2020 3:20 am Did anyone even have a serious offer that was going to keep them here?
KG offered Glen $500K. Glen said no. KG is now pissed, thinking he had a deal in place and that Glen is a snake.
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flexbuffchest
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Re: Glen Taylor Not Selling the Team?

Post by flexbuffchest »

Sergeant Rubetube wrote: Tue Dec 01, 2020 3:20 am Did anyone even have a serious offer that was going to keep them here?
Nope and that's why he didn't sell.
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Re: Glen Taylor Not Selling the Team?

Post by Thrillkill »

Philo Beddoe wrote: Tue Dec 01, 2020 4:52 am Glen Taylor will die before he sells the team.

His family will sell to the highest bidder, who will then move the team out of Minnesota where they will win a championship.

This is how it works being a Timberwolves fan. I am surprised some of you still don't know this.
Because he's a greedy piece of shit.

Told you all this was coming.
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Re: Glen Taylor Not Selling the Team?

Post by j2j »

Philo Beddoe wrote: Tue Dec 01, 2020 4:52 am Glen Taylor will die before he sells the team.

His family will sell to the highest bidder, who will then move the team out of Minnesota where they will win a championship.

This is how it works being a Timberwolves fan. I am surprised some of you still don't know this.
First season, too.
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somuchyummy
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Re: Glen Taylor Not Selling the Team?

Post by somuchyummy »

watching this continual saga with glen makes me feel for his personal assistant. "bring me my red tie.... no! wait! the blue one with the green stripes... NO! not that. i think i'll just go with a nice sweater vest today... what do you think? hmmm, maybe bring me my red tie...."
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Re: Glen Taylor Not Selling the Team?

Post by jodaman01 »

He hasn’t found a buyer with a decent offer that won’t agree to not move the Team out of Minnesota.

Will you cheer harder for that owner and this Team when it’s in another state?
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Re: Glen Taylor Not Selling the Team?

Post by Philo Beddoe »

jodaman01 wrote: Wed Dec 02, 2020 7:35 am He hasn’t found a buyer with a decent offer that won’t agree to not move the Team out of Minnesota.

Will you cheer harder for that owner and this Team when it’s in another state?
I wonder what kind of offer the KG team put together.

If the team were to move, I would probably still be a fan, but more of a casual fan. I am certainly not going to buy a league pass to watch every game like to do the Minnesota Timberwolves. My connection to Minnesota is I grew up there, so I root for all the Minnesota teams. I don't live in Minnesota though so I will not lose that connection that most Wolves fans have.
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Re: Glen Taylor Not Selling the Team?

Post by jffl_commish »

Name me one good thing Glen has done with this franchise other than keeping it Minnesota. Fuck that guy.
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Re: Glen Taylor Not Selling the Team?

Post by jodaman01 »

Philo Beddoe wrote: Wed Dec 02, 2020 7:46 am
jodaman01 wrote: Wed Dec 02, 2020 7:35 am He hasn’t found a buyer with a decent offer that won’t agree to not move the Team out of Minnesota.

Will you cheer harder for that owner and this Team when it’s in another state?
I wonder what kind of offer the KG team put together.

If the team were to move, I would probably still be a fan, but more of a casual fan. I am certainly not going to buy a league pass to watch every game like to do the Minnesota Timberwolves. My connection to Minnesota is I grew up there, so I root for all the Minnesota teams. I don't live in Minnesota though so I will not lose that connection that most Wolves fans have.
I’ve always thought if I moved somewhere that’s the type of fan I would be to the Teams here. Although when the North Stars left - they were dead to me (although I have never been a big hockey fan).

I am here so follow these Teams really close through their seasons and off-seasons.

Also - Jeff Teague was the worst! ;)

GO WOLVES!! :thumbsup:
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Re: Glen Taylor Not Selling the Team?

Post by OliverMiller »

Philo Beddoe wrote: Wed Dec 02, 2020 7:46 am
jodaman01 wrote: Wed Dec 02, 2020 7:35 am He hasn’t found a buyer with a decent offer that won’t agree to not move the Team out of Minnesota.

Will you cheer harder for that owner and this Team when it’s in another state?
I wonder what kind of offer the KG team put together.

If the team were to move, I would probably still be a fan, but more of a casual fan. I am certainly not going to buy a league pass to watch every game like to do the Minnesota Timberwolves. My connection to Minnesota is I grew up there, so I root for all the Minnesota teams. I don't live in Minnesota though so I will not lose that connection that most Wolves fans have.
Yeah I've always wondered how I'd handle that. I think I'd still follow the team but maybe not as closely.
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Re: Glen Taylor Not Selling the Team?

Post by Hoop Dreams »

Anyone willing to share this article?

Eroder wrote: Mon Nov 27, 2023 5:13 pm That settles it. Hoop is right!
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jffl_commish
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Re: Glen Taylor Not Selling the Team?

Post by jffl_commish »

Hoop Dreams wrote: Tue Jan 05, 2021 8:22 am Anyone willing to share this article?

Brian Windhorst
ESPN Senior Writer

Two NBA seasons have been hammered by COVID-19, leaving owners and league officials to examine expansion as an option to make up for the revenue shortfall. And that has left them watching a drawn-out sales process of the Minnesota Timberwolves as an indicator for franchise value health.

After putting the Wolves on the market in both 2012 and 2015 only to back out each time, longtime owner Glen Taylor announced again in July 2020 that he was selling the team. It has not been a brisk process as firm offers have been tepid, sources said.

Taylor, 79, has gotten as far as a term sheet with a group led by Daniel Straus, a New Jersey-based health care magnate and former Memphis Grizzlies minority owner, but the sides haven't been able to finish the deal. They're still talking, sources said, and Straus remains the favorite to get the team, but Taylor's history of pulling the team off the market leaves doubt.


Valuations put the Wolves in the $1.3-1.5 billion range including debt, sources said, less than what Taylor was hoping to fetch. Straus, sources said, revised his offer after it was clear fans would not be in arenas en masse this season, assuring steeper short-term losses.

"I think Glen was hoping team values were still going up," one owner said. "I think we're finding out they may not be right now."

Within the league office, sources said officials have floated the price tag of $2.5 billion each for two expansion teams in the near future. Unlike other major revenue streams such as TV and ticket money, expansion fees are not split with players. Such a haul could mean about $160 million per team, a windfall that could wipe out the massive debt load that's piling up, and that alone has perked interest in the expansion path.

NBA health officials in COVID-19 balancing act
Considering there might be multiple offers from cities like Seattle or Las Vegas and that the league knows its business and its bidders, that could be a fair projection. But a potential Wolves sale of $1.5 billion or less would mean a correction in the NBA market after a decade of growth.

The Utah Jazz, who play in a much smaller market than Minneapolis, sold for $1.66 billion last month to tech billionaire Ryan Smith. That is a strong vote of confidence in the continued rise in franchise value -- but it might have been an outlier.

Smith is a lifelong Jazz fan who was desperate to buy the team. Before the Jazz came on the market, Smith had some interest in bidding for the Wolves. But like several people who reached out to Taylor since the summer, he passed.

For the past decade, Taylor has dreamed of a local buyer willing to pay a premium to ensure the team stays in Minneapolis, but he hasn't been able to find one. In recent months, ownership groups interested in moving the franchise reached out to Taylor, but he has turned them down flatly, sources said, which has limited bidders.

There was an attempt to get the Wilf family, owners of the Minnesota Vikings, interested in making an offer, but those talks didn't advance, sources said. Former Timberwolves great Kevin Garnett -- who has been in a bitter public war of words with Taylor -- expressed an interest in assembling a group, but that also hasn't advanced.

Taylor saved basketball in Minnesota, buying the team for $88 million in 1994 after it nearly moved to New Orleans. His desire to keep it in the Twin Cities is important to his legacy but is undoubtedly costing him money.

The Wolves are viewed upon as an attractive relocation franchise. The Minneapolis Star-Tribune reported in July that a 2016 lease amendment with the city-owned Target Center calls for a $50 million buyout. While that isn't nothing, in a league where teams pay upward of $10 million for scoreboards, that isn't much of a safeguard. Were Taylor willing to sell the team to a group looking to move it, he might be able to get significantly more.

The Wolves have missed the playoffs in 15 of the past 16 seasons and have routinely been near the bottom in attendance. The city and team combined to spend $145 million to renovate the Target Center in 2017 and upgraded premium seating, but that still left the 30-year-old building behind many of its competitors.

Still, it is an NBA team, and that scarcity gives it value. Even if an eventual sale comes below the Jazz's purchase price, Taylor will have made a spectacular profit. When he put the team on the market in 2012, the most recent sales of teams were in the $300-400 million range, and changing his mind then ended up being a profitable decision.

But maybe not as much as the league was hoping.
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Re: Glen Taylor Not Selling the Team?

Post by bubu dubu. »

Sergeant Rubetube wrote: Tue Dec 01, 2020 3:20 am Did anyone even have a serious offer that was going to keep them here?
KG offered $50K, and Glen is a snake for not accepting that
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Re: Glen Taylor Not Selling the Team?

Post by jffl_commish »

"The Wolves have missed the playoffs in 15 of the past 16 seasons and have routinely been near the bottom in attendance."

Weird how those two things seem to go hand in hand.
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Re: Glen Taylor Not Selling the Team?

Post by T_J »

He’ll never sell without some absurd offer. He’s an old man greedy prick and the worst owner outside of the knicks the last 30 years. The local media will say, well he kept the team in MN. It would have been better if he didn’t.

Fuck him. Nobody will be sad when he dies.
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Re: Glen Taylor Not Selling the Team?

Post by Herky »

jffl_commish wrote: Wed Dec 02, 2020 7:57 am Name me one good thing Glen has done with this franchise other than keeping it Minnesota. Fuck that guy.
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Re: Glen Taylor Not Selling the Team?

Post by chris_numbers »

I wonder if Taylor is the worst owner in all of sports or is it because we hear the news.

Then again, Pohlads and Taylor are both awful owners. At least Ziggy spends the money.
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Re: Glen Taylor Not Selling the Team?

Post by jffl_commish »

chris_numbers wrote: Tue Jan 05, 2021 9:55 am I wonder if Taylor is the worst owner in all of sports or is it because we hear the news.

Then again, Pohlads and Taylor are both awful owners. At least Ziggy spends the money.
Glen has spent money just fine for the most part. Trouble is that he's a complete moron when he does. The Joe Smith under the table contract. Wiggins looking him in the eye and promising to try before the max contract. Etc....
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Re: Glen Taylor Not Selling the Team?

Post by swenjj »

He's almost 80..is a multi billionaire..I know it ain't my cash but does he need to squeeze out every penny to bathe in a few more dollars before he's gone? Say he sells it to kgs groupl for 1.2 billion and is a hero to MN for decades, retires and enjoys billions in the bank ..is that so much worse than retirement with another few hundred million that you don't even have time to spend ?

I know,he's a billionaire because he made smart deals.but he paid 88 million,he doesn't HAVE to scavenge every penny for his last year or 2
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Re: Glen Taylor Not Selling the Team?

Post by jodaman01 »

Do people here want Glen to sell the team to somebody who will move it to another state/market, just so Glen doesn’t own it anymore?

It’s the only reason the Team has any value in the NBA and to any current potential buyers.

That’s the reality you and this franchise are looking at.
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Re: Glen Taylor Not Selling the Team?

Post by Hoop Dreams »

Doogie in regards to Straus...

Eroder wrote: Mon Nov 27, 2023 5:13 pm That settles it. Hoop is right!
Eroder wrote: Wed Dec 13, 2023 12:59 pm Hoop is right again!!
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Re: Glen Taylor Not Selling the Team?

Post by jodaman01 »

Hoop Dreams wrote: Tue Jan 05, 2021 12:31 pm Doogie in regards to Straus...

That doesn’t sound like a sure thing does it?
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Re: Glen Taylor Not Selling the Team?

Post by jodaman01 »

So he should sell at market low point to somebody looking to buy and Max profit by relocating, just because he’s rich.

Yes that’s just what rich people do, in fact it’s probably how they got rich... :roll:

https://basketball.realgm.com/wiretap/2 ... -Franchise
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Re: Glen Taylor Not Selling the Team?

Post by swenjj »

jodaman01 wrote: Tue Jan 05, 2021 1:19 pm So he should sell at market low point to somebody looking to buy and Max profit by relocating, just because he’s rich.

Yes that’s just what rich people do, in fact it’s probably how they got rich... :roll:

https://basketball.realgm.com/wiretap/2 ... -Franchise
He may not even be here when the market gets back on track .this isn't the first time he's done this..just sell it . He probably wants a piece of the expansion money..
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Re: Glen Taylor Not Selling the Team?

Post by jodaman01 »

swenjj wrote: Tue Jan 05, 2021 2:46 pm
jodaman01 wrote: Tue Jan 05, 2021 1:19 pm So he should sell at market low point to somebody looking to buy and Max profit by relocating, just because he’s rich.

Yes that’s just what rich people do, in fact it’s probably how they got rich... :roll:

https://basketball.realgm.com/wiretap/2 ... -Franchise
He may not even be here when the market gets back on track .this isn't the first time he's done this..just sell it . He probably wants a piece of the expansion money..
Of course he does. He may end up negotiating a piece of the relocation money if he sells to a buyer likely to relocate.

There are no fans to make any money off of right now, so he has to be getting his ass kicked because he still has to pay all the contracts and likely building fees.

If I owned it, I wouldn’t sell it knowing holding it until the fans are able to come back increases the value - that is unless I got a sweetheart offer like the Jazz got.

I have no problem with it.

GO WOLVES!! :thumbsup:
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