Turd Taylor Out As Majority Owner

[Oriole81]

I trust Turd Taylor more than I trust these 2 new guys. One of the first things I learned in the Marine Corps was USMC stands for...

U
Signed the
Motherfucking
Contract


If these 2 turds didn't fulfill their end of the agreement, fuck em. I have a ton more faith in Turd Taylor that he will keep the franchise in MN than I do with these 2.

My complaints about Taylor are all about how poorly he had ran the franchise in the past with his terrible GM & coaching hires. That has been remedied for the time being.

Taylor should use the press to apologize to KG for whatever misunderstanding those two have. Not being able to bring KG back into the fold is a terrible missed opportunity that we all want to get corrected.

If given a choice between an owner that I'm certain is committed to keeping the franchise in MN vs. new ownership that will immediately be able to bring KG back into the organization but I'm uncertain of their loyalty to MN...I'm choosing Turd Taylor without thinking twice.

If money is a problem for new ownership now, it's pretty damn naive to think that the temptation of moving the franchise to the highest bidding city in the future isn't something we should be concerned about.

or even something as simple as paying into the luxury tax.

[populousample]

Plenty of unknown details…
Two sides of the story, I’m sure…
But Glen really has a knack at taking the shine off a successful season at the most in-opportune time.

[RubeTube]

Probably pretty hard to go this route but both parties should have kept their mouths shut about this until after the season.

To the one’s saying this wont be a distraction to the players… I’ve seen enough off the field shit that has derailed the Vikings over the years that I am not so sure, especially with the fragile minded nature of some of the players on this roster.

Thirdly, I think they are stuck between a rock and a turd. I think AFraud is as big of a snake as you will ever see. I think he and Lore would move this team out of Minnesota at one of the first chances they could get. I also think it’s going to be really really hard for them to ever get a new arena here with how many they’ve built over the last years and with everything else going on. It’s too bad the Pohlads were given a stadium to not even care to compete in.

Taylor runs the team like shit but I trust him and his loyalty to MN. ARod and Lore have already shown to be better at putting a better product out but I trust them ZERO when it comes to a little adversity to their business plans. You can bet your ass they are going to ask for a new arena over the next 5 years if they end up with the team and I don’t think it’s happening here anytime soon.

[SKOLMN]

Really surprised at the crowd that’s taking Taylor’s side, he’s a snake who’s trying to undo an agreement that was struck years ago

@Seth_Kaplan

Glen Taylor with @ChadHartmanShow when asked if the reason for this happening is because the franchise might be worth double what he was selling it for:
"Partly so, yes. I have a responsibility to those who have been on this ride for the last 40 years."

Amazing. Crude.

[weimy froob]

Really surprised at the crowd that’s taking Taylor’s side, he’s a snake who’s trying to undo an agreement that was struck years ago

@Seth_Kaplan

Glen Taylor with @ChadHartmanShow when asked if the reason for this happening is because the franchise might be worth double what he was selling it for:
"Partly so, yes. I have a responsibility to those who have been on this ride for the last 40 years."

Amazing. Crude.

seller's remorse has nothing to do with it. it's besides the point. it isn't taylor that didn't live up to the agreement. he extended the deadline twice. that's more than fair. too bad for A-rod and marc that they couldn't come up with the money.

[SKOLMN]

Really surprised at the crowd that’s taking Taylor’s side, he’s a snake who’s trying to undo an agreement that was struck years ago

@Seth_Kaplan

Glen Taylor with @ChadHartmanShow when asked if the reason for this happening is because the franchise might be worth double what he was selling it for:
"Partly so, yes. I have a responsibility to those who have been on this ride for the last 40 years."

Amazing. Crude.

seller's remorse has nothing to do with it. it's besides the point. it isn't taylor that didn't live up to the agreement. he extended the deadline twice. that's more than fair. too bad for A-rod and marc that they couldn't come up with the money.

Lore and arod are claiming they did come up with the money, idk why everyone is quick to call them liars and not glen, they should have more goodwill with the fan base than Taylor does

[weimy froob]

Really surprised at the crowd that’s taking Taylor’s side, he’s a snake who’s trying to undo an agreement that was struck years ago

@Seth_Kaplan

Glen Taylor with @ChadHartmanShow when asked if the reason for this happening is because the franchise might be worth double what he was selling it for:
"Partly so, yes. I have a responsibility to those who have been on this ride for the last 40 years."

Amazing. Crude.

seller's remorse has nothing to do with it. it's besides the point. it isn't taylor that didn't live up to the agreement. he extended the deadline twice. that's more than fair. too bad for A-rod and marc that they couldn't come up with the money.

Lore and arod are claiming they did come up with the money, idk why everyone is quick to call them liars and not glen, they should have more goodwill with the fan base than Taylor does

where are they claiming they paid glen the money?

[RubeTube]

seller's remorse has nothing to do with it. it's besides the point. it isn't taylor that didn't live up to the agreement. he extended the deadline twice. that's more than fair. too bad for A-rod and marc that they couldn't come up with the money.

Lore and arod are claiming they did come up with the money, idk why everyone is quick to call them liars and not glen, they should have more goodwill with the fan base than Taylor does

where are they claiming they paid glen the money?

Gotta read that small print, wouldn’t ya type?

[weimy froob]

Lore and arod are claiming they did come up with the money, idk why everyone is quick to call them liars and not glen, they should have more goodwill with the fan base than Taylor does

where are they claiming they paid glen the money?

Gotta read that small print, wouldn’t ya type?

i don't think glen got the certified check.

[Dan33185]

seller's remorse has nothing to do with it. it's besides the point. it isn't taylor that didn't live up to the agreement. he extended the deadline twice. that's more than fair. too bad for A-rod and marc that they couldn't come up with the money.

Lore and arod are claiming they did come up with the money, idk why everyone is quick to call them liars and not glen, they should have more goodwill with the fan base than Taylor does

where are they claiming they paid glen the money?

[LordNu]

This is absurd… does he want to sell or not? If he did, he’d be giving them a bit more time. Surprised Lore snd Arod didn't have the money ages ago. This ain’t no 11 hour deal…

[weimy froob]

Lore and arod are claiming they did come up with the money, idk why everyone is quick to call them liars and not glen, they should have more goodwill with the fan base than Taylor does

where are they claiming they paid glen the money?

that says nothing about glen getting the check. you give glen the check and then you worry about NBA approval. they were supposed to have handed over the check on december 31st. then february 27. then march 27. i don't think glen got the money.

[weimy froob]

that tweet reads like nothing but PR to me.

[Oriole81]

Really surprised at the crowd that’s taking Taylor’s side, he’s a snake who’s trying to undo an agreement that was struck years ago

@Seth_Kaplan

Glen Taylor with @ChadHartmanShow when asked if the reason for this happening is because the franchise might be worth double what he was selling it for:
"Partly so, yes. I have a responsibility to those who have been on this ride for the last 40 years."

Amazing. Crude.

seller's remorse has nothing to do with it. it's besides the point. it isn't taylor that didn't live up to the agreement. he extended the deadline twice. that's more than fair. too bad for A-rod and marc that they couldn't come up with the money.

Lore and arod are claiming they did come up with the money, idk why everyone is quick to call them liars and not glen, they should have more goodwill with the fan base than Taylor does

quick to call Alex Rodriguez a liar?

[Lightning]

Taylor should use the press to apologize to KG for whatever misunderstanding those two have. Not being able to bring KG back into the fold is a terrible missed opportunity that we all want to get corrected.

Dear KG,

I'm sorry I said that you "tanked it". I should have prefaced that with an "this is off the record".

Glen "fuckface" Taylor

[jffl_commish]

Glen is a POS, period. Thanks for keeping the team here, then literally doing fuck all since.

[SHAFA]

Saw something finally dropped from Krawczynski.

Spoiler:

Minnesota Timberwolves and Lynx owner Glen Taylor issued a statement Thursday saying that the opportunity for Marc Lore and Alex Rodriguez to take control of the franchises has expired, meaning that he plans to retain his status as majority owner of the two basketball teams.

In the statement, Taylor also stated, “Under terms of the purchase agreement, the closing was required to occur within 90 days following the exercise notice issued by Lore and Rodriguez. That 90-day period expired on March 27, 2024.

“Under certain circumstances, the buyer could have been entitled to a limited extension. However, those circumstances did not occur.

“I will continue to work with Marc, Alex and the rest of the ownership group to ensure our teams have the necessary resources to compete at the highest levels on and off the court. The Timberwolves and Lynx are no longer for sale.”

It was a stunning turn of events in the three-year saga, coming just over a week after Lore and Rodriguez submitted signed financial documentation to the league to show they had the money to complete the $1.5 billion purchase.

Taylor’s statement indicates that he believes Lore and Rodriguez have not met all of the parameters outlined in the purchase agreement to continue the process.

“We are disappointed with Glen Taylor’s public statement today,” a spokesperson for Lore and Rodriguez said. “We have fulfilled our obligations, have all necessary funding and are fully committed to closing our purchase of the team as soon as the NBA completes its approval process. Glen Taylor’s statement is an unfortunate case of seller’s remorse that is short-sighted and disruptive to the team and the fans during a historic winning season.”

Just last week, the pair submitted financial documentation to the NBA as they moved to finalize their purchase of a 40 percent stake that would vault them from limited partners to majority owners. Now that ascension appears to be in jeopardy.

What happens next is not immediately known. The purchase agreement calls for mediation and arbitration to resolve any such disputes, league sources told The Athletic.

Exactly when that would happen and how long it would take remains to be seen. Under the terms of the agreement, Lore and Rodriguez retain the 40 percent of the team they have already purchased.

The situation is coming to a head at a time when the Timberwolves are enjoying their best season in 20 years. They are 50-22 and just a half-game behind the Denver Nuggets for first place in the Western Conference with a big game in Denver on Friday night.

“We’re just saying we had a contract with you guys, you’ve had your time and this is the end of the contract and we’re just kind of go on running the way we’ve been run,” Taylor said to The Athletic. “I just think built this team. We’ve got the players now. And it appears to me that we should have a very positive run for a number of years, and I want to be a part of that.”

What it means

As it stands, this appears to come down to Taylor’s interpretation of the agreement versus the view of Lore and Rodriguez, who believe that last week’s filing of financial commitment letters was enough to show that the process can move forward.

According to the statement, Taylor’s view is that when Lore and Rodriguez exercised their option to buy the final 40 percent in the deal, that opened a 90-day window for them to complete the entirety of closing. The agreement required Lore and Rodriguez to complete several steps in that window, so that when March 27 arrived, everything was finished.

But Taylor’s view of the agreement shows that the prospective owners have missed several benchmarks along the way, including not yet going under a final review from the NBA’s finance committee, not receiving a letter of approval or a vote from the board of governors. No money has been exchanged yet, either.

Taylor believes that because those obligations were not fulfilled, Lore and Rodriguez were not eligible for an extension to finish that process and the option, therefore, has expired. Assuming Taylor does retain full control of the team, he is not expected to put it back on the market, league sources told The Athletic.


Lore and Rodriguez will likely argue that they fulfilled all of their obligations and were eligible to get the final 90-day extension to go through the league approval process, the vote from the board of governors and ascend to controlling owners.

Whether this eventually lands in the court system, is resolved through mediation/arbitration or some other way remains to be seen.

The fallout

When the deal was first announced, it was painted as the ideal partnership between one of the league’s legacy owners and two younger, ambitious successors who could bring energy and a fresh perspective to a long-struggling franchise.

At the time of the agreement, the Timberwolves had one playoff appearance in the previous 17 years and were coming off of a 23-49 season in 2020-21.
After years of looking for the right buyers, Taylor believed he had finally found the right match.

“You just felt when you shook their hands that you had a deal. Sometimes when you shake hands with people, I wonder if they’re going to come through,” Taylor told The Athletic in 2021, not long after the agreement was first reached. “But I was really confident. How they do business is so similar to how I do business.”

Lore and Rodriguez visited Taylor and his wife, Becky, at their home in Naples, Fla., shaking hands on the deal over homemade burgers, just the way Taylor prefers to do business.

“I think it was all about just building that mutual trust early on, getting to know him and Becky,” Lore told The Athletic in 2021. “We were at his home. We got to see where he lives and how he lives. We shared a lot about our background, about how we grew up.”

Lore and Rodriguez were granted significant influence in major decisions over the last three years, an effort to make the transition to their reign as seamless as possible. They were key in recruiting president of basketball operations Tim Connelly away from Denver, made several high-level hires to the executive ranks on the business side of the team and have been a regular presence courtside at Target Center and on the road.

But recently there have been signs of a divide between the two groups. Taylor has given several interviews in recent months openly questioning whether Lore and Rodriguez have the money to complete the transaction. Determining that the option has expired and not granting Lore and Rodriguez the extension, it is a sign that Taylor has lost the warm feelings he once had for them.

This could set up a prolonged battle for control of the team, right as the team is preparing for the postseason.

Mainly:

According to the statement, Taylor’s view is that when Lore and Rodriguez exercised their option to buy the final 40 percent in the deal, that opened a 90-day window for them to complete the entirety of closing. The agreement required Lore and Rodriguez to complete several steps in that window, so that when March 27 arrived, everything was finished.

But Taylor’s view of the agreement shows that the prospective owners have missed several benchmarks along the way, including not yet going under a final review from the NBA’s finance committee, not receiving a letter of approval or a vote from the board of governors. No money has been exchanged yet, either.

Taylor believes that because those obligations were not fulfilled, Lore and Rodriguez were not eligible for an extension to finish that process and the option, therefore, has expired. Assuming Taylor does retain full control of the team, he is not expected to put it back on the market, league sources told The Athletic.

[Lightning]

I wouldn't even want that shithead hoisting the "Conan O'Brien Trophy."

[populousample]

Really surprised at the crowd that’s taking Taylor’s side, he’s a snake who’s trying to undo an agreement that was struck years ago

@Seth_Kaplan

Glen Taylor with @ChadHartmanShow when asked if the reason for this happening is because the franchise might be worth double what he was selling it for:
"Partly so, yes. I have a responsibility to those who have been on this ride for the last 40 years."

Amazing. Crude.

What is Glen’s purpose in going on a media tour about this?

[populousample]

Christ Glen…the only response when asked should be “we are focused on winning a championship this year”

[weimy froob]

i go back to this walters column. it looks to me that the ducks weren't in order by the prospective buyers and after a couple of extensions glen exercised his right as the owner to retain the team when the agreement's been breached.

Charley Walters: Timberwolves buyers may need another extension

It still looks like the $1.5 billion sale of the Timberwolves and Lynx will happen. But up until at least last week, there was an awkward silence on behalf of the buyers.

The initial deadline for the sale to Alex Rodriguez and Marc Lore was Dec. 31. Another deadline granted by owner Glen Taylor had been pushed back until this Thursday, presumably for Rodriguez and Lore to acquire more capital.

Don’t be surprised if yet another deadline is granted beyond Thursday.

Word is the buyers still need $600 million to close the deal. For a transaction of this magnitude, a lack of correspondence between the buyers and seller has been puzzling.

Taylor hadn’t heard from the buyers in at least a month, but he has remained patient. At age 82 he’s already a double-billionaire and hardly in need of cash.

— Rodriguez and Lore are in the process of bringing new partners into the deal, but those have been unknown, even to Taylor, who if he’s to become a 20 percent partner, as initially was planned, would like to know the conditions. Taylor’s group on Jan. 3 requested pertinent information from the buyers without response.

Taylor remains the Timberwolves-Lynx owner and oversees all transactions. It’s been under his final say and direction that the Wolves have become the Western Conference’s co-leader.

[Lightning]

Walters? A little birdy named Ten Glayor, no doubt.

[weimy froob]

that first extension was february 29. the onus on getting this agreement done within the parameters is on the prospective buyers. they failed. too bad for them. personally, i think they were getting the runaround from the potential investors. that's what can happen when you don't have the cash yourselves.

[MolluskVonMuskie]

Plenty of unknown details…
Two sides of the story, I’m sure…
But Glen really has a knack at taking the shine off a successful season at the most in-opportune time.

You would have thought he would just extend the deadline until late May or June just to avoid the distraction during the most important time of year.......but not Glen. He saw an opportunity to keep his stake and about 900 million in increased valuation and took it. Fucking guy.

[weimy froob]

the players aren't going to be distracted. i'm not either. a one day story. bottom line: buyers fucked up in trying to get the controlling interest. now they're just owners with a 40 percent interest. i think i got that part right.

[Night Train]

I'm so glad I quit working for Glen Taylor, his businesses in Mankato are just a stepping stone for people to move on to better things, unless they can't, then they become lifers.

[SHAFA]

the players aren't going to be distracted. i'm not either. a one day story. bottom line: buyers fucked up in trying to get the controlling interest. now they're just owners with a 40 percent interest. i think i got that part right.

No, weimy. It’s going to test player loyalty. Drama will abound. The season is hosed!

[Jimi_Thing]

Glen is a POS, period. Thanks for keeping the team here, then literally doing fuck all since.

They're currently one of the top teams in the league, with one of the best GMs in the league, with a solid young core, and a coach that is maximizing the hand that he's been dealt while creating an environment that has been allowing this team to retain players like Conley & Reid at a discounted rate.

Turd Taylor deserves to be ripped for his past fuck ups. Wolves fans have done that and will continue to rip him and dwell on the past. It's what we do. It's all we know. Do the same people also feel like he deserves any credit for the current state of the Wolves?

The more I think about this situation, the more I'm glad the team is staying with Turd Taylor. You guys want to fuck around with wannabe owners that couldn't fulfill their end of the deal? These are the kind of owners that will have the Wolves playing in Nashville or some other city down the road. Fuck them and the horses they rode in on.

[Catalyst]

Honestly, I don't trust any of them. Once again, the fans are screwed. This is not what anyone should be worried about, the team is fighting hard to get through their very best season. Everyone should be worried about supporting them in the best way possible not gearing up to once again make us the laughing stock of the league. I honesly think the league should make sure a deal like this never happens again. Have the entire amount up front or don't even try. I just find it nearly impossible to think the league would approve this shit show of a deal.

[Jimi_Thing]

Honestly, I don't trust any of them. Once again, the fans are screwed. This is not what anyone should be worried about, the team is fighting hard to get through their very best season. Everyone should be worried about supporting them in the best way possible not gearing up to once again make us the laughing stock of the league. I honesly think the league should make sure a deal like this never happens again. Have the entire amount up front or don't even try. I just find it nearly impossible to think the league would approve this shit show of a deal.

I fail to see how the fans are screwed or how this makes us look like a laughing stock. Unless I'm missing something, the only ones that are getting screwed is A-Rod and that other dude. And if it's because they didn't deliver on their end of the deal...they fucked themselves.