Turd Taylor Out As Majority Owner

[SKOLMN]

Then why didn’t the other side make it happen cap’n?

That simple question needs to be answered first. If their future franchise was on this amazing trajectory…one would think they wouldn’t be pulling a Minnesota Vikings/Mike Tice 1st round blunder. It logically doesn’t make sense.

Once again, why do you firmly believe arod and lore don’t have the sufficient funds to buy the team? Because glen Taylor said so? He’s openly admitting the team is no longer for sale is because of how much the value of the franchise has grown since their agreement, and that doesn’t sound any alarm bells?

I believe if Arod and the other guy fulfilled their end of the deal, this wouldn’t be an issue. It appears they didn’t. Why is that? Help me understand the logic that it’s Taylor’s fault.

How so, help me understand this because I don’t see anything to indicate this. Yes they lost an investor late but they were able to replace them with another.

To answer your question, because he just admitted that other investors that he’d like to protect would prefer he sold the team for more and that this reason is why the team is no longer for sale. Right now it’s a bunch of he said she said, Taylor is saying they didn’t raise the money while arod and lore are saying they did, but the tweet quoted above imo is a scathing indictment against Taylor and to me reads like either Taylor prefers to alter the agreement for a higher price, or decided he wants to keep majority interest in what now is a contender with a bonfire superstar just entering his prime, so he’s looking for a way/reason to back out

[Jimi_Thing]

Seriously though. Who here is displeased with the current state of the Wolves?

- A top GM
- A very good head coach.
- Top star in the league.
- Very strong young core for that top GM to build on.
- An owner that ain’t pissin and moanin about the Target Center no longer having that new car smell.
- An owner that’s committed to keeping the franchise in MN.

If this team makes noise in the playoffs this year, I’m confident Taylor will pay the luxury tax to keep the band together. Having a top team in the league and a sold out Target Center every night makes that a pretty easy decision.

Appreciate the positive vibes but Taylor took all of the attention away from those positive vibes by proactively going public and distracting from that narrative/points. Hard to have confidence in what he will do next.

It was inevitably gonna be made public. Taylor got ahead of the story. Don’t hate on the old man because he’s savvy.

Unless I’m mistaken, ARod and Lore didn’t fulfill their end of the deal.

Case closed, suitcase filled with clothes. - Chris Wallace

[populousample]

Seriously though. Who here is displeased with the current state of the Wolves?

- A top GM
- A very good head coach.
- Top star in the league.
- Very strong young core for that top GM to build on.
- An owner that ain’t pissin and moanin about the Target Center no longer having that new car smell.
- An owner that’s committed to keeping the franchise in MN.

If this team makes noise in the playoffs this year, I’m confident Taylor will pay the luxury tax to keep the band together. Having a top team in the league and a sold out Target Center every night makes that a pretty easy decision.

Appreciate the positive vibes but Taylor took all of the attention away from those positive vibes by proactively going public and distracting from that narrative/points. Hard to have confidence in what he will do next.

It was inevitably gonna be made public. Taylor got ahead of the story. Don’t hate on the old man because he’s savvy.

Unless I’m mistaken, ARod and Lore didn’t fulfill their end of the deal.

Case closed, suitcase filled with clothes. - Chris Wallace

Opposite of savy if your focused on winning a championship.

[Jimi_Thing]

Appreciate the positive vibes but Taylor took all of the attention away from those positive vibes by proactively going public and distracting from that narrative/points. Hard to have confidence in what he will do next.

It was inevitably gonna be made public. Taylor got ahead of the story. Don’t hate on the old man because he’s savvy.

Unless I’m mistaken, ARod and Lore didn’t fulfill their end of the deal.

Case closed, suitcase filled with clothes. - Chris Wallace

Opposite of savy if your focused on winning a championship.

Glen has had a rich history of fuck ups but he’s finally got that top GM this franchise desperately needed. He paid a ton for him to. Don’t confuse Glen Taylor with the Polands. Turd Taylor has demonstrated that he will spend money.

[populousample]

It was inevitably gonna be made public. Taylor got ahead of the story. Don’t hate on the old man because he’s savvy.

Unless I’m mistaken, ARod and Lore didn’t fulfill their end of the deal.

Case closed, suitcase filled with clothes. - Chris Wallace

Opposite of savy if your focused on winning a championship.

Glen has had a rich history of fuck ups but he’s finally got that top GM this franchise desperately needed. He paid a ton for him to. Don’t confuse Glen Taylor with the Polands. Turd Taylor has demonstrated that he will spend money.

Not the point nor the rationale for Taylor to go public. It could be considered savy if the focus is on money…but for a change for this team, it is about a championship this year. He didn’t have to proactively go public about the situation. He could have just let the inquiries come and deferred to a statement of a focus on winning a championship. At his age, no reason other than his hubris to proactively demean Lore/ARod to create a distraction from a championship unless he’s not all in on that. He has rights to do what he did today, but it shows what he values.

[Jimi_Thing]

Opposite of savy if your focused on winning a championship.

Glen has had a rich history of fuck ups but he’s finally got that top GM this franchise desperately needed. He paid a ton for him to. Don’t confuse Glen Taylor with the Polands. Turd Taylor has demonstrated that he will spend money.

Not the point nor the rationale for Taylor to go public. It could be considered savy if the focus is on money…but for a change for this team, it is about a championship this year. He didn’t have to proactively go public about the situation. He could have just let the inquiries come and deferred to a statement of a focus on winning a championship. At his age, no reason other than his hubris to proactively demean Lore/ARod to create a distraction from a championship unless he’s not all in on that. He has rights to do what he did today, but it shows what he values.

Yeah. You could be right.

I was originally somewhere between positive to indifferent when it came to new ownership. My main concern being their loyalty to staying in MN. With things going sideways, I’m absolutely A-OK with Taylor remaining the owner. I have absolutely no concern about his loyalty to keeping the team in MN. That’s a big deal to me.

[populousample]

Glen has had a rich history of fuck ups but he’s finally got that top GM this franchise desperately needed. He paid a ton for him to. Don’t confuse Glen Taylor with the Polands. Turd Taylor has demonstrated that he will spend money.

Not the point nor the rationale for Taylor to go public. It could be considered savy if the focus is on money…but for a change for this team, it is about a championship this year. He didn’t have to proactively go public about the situation. He could have just let the inquiries come and deferred to a statement of a focus on winning a championship. At his age, no reason other than his hubris to proactively demean Lore/ARod to create a distraction from a championship unless he’s not all in on that. He has rights to do what he did today, but it shows what he values.

Yeah. You could be right.

I was originally somewhere between positive to indifferent when it came to new ownership. My main concern being their loyalty to staying in MN. With things going sideways, I’m absolutely A-OK with Taylor remaining the owner. I have absolutely no concern about his loyalty to keeping the team in MN. That’s a big deal to me.

Yeah, on the same page re the ownership change and can’t argue with valuing the MN loyalty aspect either.

[Beef Supreme]

Glen has had a rich history of fuck ups but he’s finally got that top GM this franchise desperately needed. He paid a ton for him to. Don’t confuse Glen Taylor with the Polands. Turd Taylor has demonstrated that he will spend money.

Not the point nor the rationale for Taylor to go public. It could be considered savy if the focus is on money…but for a change for this team, it is about a championship this year. He didn’t have to proactively go public about the situation. He could have just let the inquiries come and deferred to a statement of a focus on winning a championship. At his age, no reason other than his hubris to proactively demean Lore/ARod to create a distraction from a championship unless he’s not all in on that. He has rights to do what he did today, but it shows what he values.

Yeah. You could be right.

I was originally somewhere between positive to indifferent when it came to new ownership. My main concern being their loyalty to staying in MN. With things going sideways, I’m absolutely A-OK with Taylor remaining the owner. I have absolutely no concern about his loyalty to keeping the team in MN. That’s a big deal to me.

Let's be clear. I think Taylor is an absolute shitbag. But he's a shitbag who is committed to keeping the Wolves in Minneapolis. And he does have history of paying for a winner. That was a while ago, but he did it. And we know he's got the money. There's no question about that. He might make a series of terrible decisions and destroy what has been built here. That's possible. But Lorre/ARod might move the team or not have the cash flow to keep it together even if they don't.


The choice is easy for me.

[populousample]

Not the point nor the rationale for Taylor to go public. It could be considered savy if the focus is on money…but for a change for this team, it is about a championship this year. He didn’t have to proactively go public about the situation. He could have just let the inquiries come and deferred to a statement of a focus on winning a championship. At his age, no reason other than his hubris to proactively demean Lore/ARod to create a distraction from a championship unless he’s not all in on that. He has rights to do what he did today, but it shows what he values.

Yeah. You could be right.

I was originally somewhere between positive to indifferent when it came to new ownership. My main concern being their loyalty to staying in MN. With things going sideways, I’m absolutely A-OK with Taylor remaining the owner. I have absolutely no concern about his loyalty to keeping the team in MN. That’s a big deal to me.

Let's be clear. I think Taylor is an absolute shitbag. But he's a shitbag who is committed to keeping the Wolves in Minneapolis. And he does have history of paying for a winner. That was a while ago, but he did it. And we know he's got the money. There's no question about that. He might make a series of terrible decisions and destroy what has been built here. That's possible. But Lorre/ARod might move the team or not have the cash flow to keep it together even if they don't.


The choice is easy for me.

What he did today does not require fans to make any choices of loyalty to who is or who becomes ownership. Respectfully, Taylor’s actions today is a reflection on his leadership and judgement, nothing more - it is what is in his control.

[shoteh]

1. Pretty Pathetic for not getting the money ready with multiple extensions

and

2. Pretty pathetic for making a public statement about the above in a rub it in your face manner

All in all, everyone's pathetic.

Here's to winning culture

[bubu dubu.]

Glen Taylor Exclusive Interview with Star Tribune

"The deal is not done. There are deadlines to be met. As always, the NBA must be satisfied with new ownership, as well as its financials."

The Lore-Rodriguez tandem already had been given an extension. That was reached on March 27 — this Wednesday.

"They missed it," Taylor said.

This was in a short phone interview with Taylor from his home in Mankato on Thursday. A couple of hours earlier, the Timberwolves sent out a news release that the NBA team and their partners, the Lynx, were no longer for sale.

"Lore and ARod now own 36 percent," Taylor said by phone. "I will work with them, as I do with my other limited."

That term is used by Taylor to describe a few other individuals who own small shares of the basketball business.

The purchase price of $1.5 billion negotiated by Lore and Rodriguez has been dwarfed by other sales of NBA teams — including in Milwaukee and Phoenix.

"We could've gotten more — we could've gotten $2.5 billion paid upfront — but that person was going to try to move the team to Las Vegas," Taylor said in February.

There have been "NBA insiders" stating that the relationship between Lore, ARod and Taylor had "deteriorated" in recent weeks. Not enough so that Lore declined to make a pitch to Taylor for an investment in another company in February.

On Thursday, Taylor was asked about those reports. "I don't know if that's accurate," he said. "Lore told me he has been busy 24/7 with other projects. And ARod — he has a lot of people to meet when he's at a game.

"The deadline had been pushed back, and they missed it. That's what led to this."

Taylor said it doesn't change the basketball operation, with the Timberwolves currently headed by Tim Connelly.

"I only knew of him," Taylor said in February. "So, when he had interest in coming here, we invited him to our house for dinner. He's very friendly, very common, very family-oriented. And a very good decisionmaker."

Taylor's a fan of Connelly. He's a fan of coach Chris Finch. He's a fan of Cheryl Reeve with the Lynx, of course.

Nothing's changing here, including the guy who has been covering the bills and watching the assets grow.

One positive for the team followers complaining about Taylor staying as owner:

The demand for a new arena to house the Timberwolves could come much later with Taylor in charge, rather than if Lore and Rodriguez had taken over.

"I'm OK with Target Center," Taylor said. "You would always like to see a few improvements, but I don't see a major problem with the arena for now."

Did the explosion in the NBA sale prices lead to Thursday's decision to enforce the latest deadline and cancel the sale?

"Not for me," Taylor said. "My money's going to the Taylor Foundation, not in my pocket. But my limiteds, they might be happy if the Timberwolves are sold later for a higher price."

Litigation has been mentioned as a possibility for the Lore-ARod group, based on the claim they had lined up the financing. Response?

"It's business," Taylor said. "Everyone has the right to bring in the lawyers."

Lots of calls today? "Yes, and we have three grandbabies here," he said. "I'm going to have to stop answering."

It appears Glen wrote his own article for the newspaper he owns.

[bubu dubu.]

Glen has had a rich history of fuck ups but he’s finally got that top GM this franchise desperately needed. He paid a ton for him to. Don’t confuse Glen Taylor with the Polands. Turd Taylor has demonstrated that he will spend money.

Not the point nor the rationale for Taylor to go public. It could be considered savy if the focus is on money…but for a change for this team, it is about a championship this year. He didn’t have to proactively go public about the situation. He could have just let the inquiries come and deferred to a statement of a focus on winning a championship. At his age, no reason other than his hubris to proactively demean Lore/ARod to create a distraction from a championship unless he’s not all in on that. He has rights to do what he did today, but it shows what he values.

Yeah. You could be right.

I was originally somewhere between positive to indifferent when it came to new ownership. My main concern being their loyalty to staying in MN. With things going sideways, I’m absolutely A-OK with Taylor remaining the owner. I have absolutely no concern about his loyalty to keeping the team in MN. That’s a big deal to me.

the reality is the team isn't going to move no matter who the owner is. The days of NBA teams (or any of the major 4 sports teams) moving are over. It has nothing to do with loyalty, it has everything to do with money....or the lack thereof for the other owners to approve a move to another city. Expansion over relocation is now the name of the game. Seattle (and likely Vegas) will get their team without needing another one moving there. Why move a team out of the #15 ranked market nationally, to the #13 market when #13 is going to get a team regardless?

[flexbuffchest]

I guess the truth will come out during litigation.

It does seem really odd given that the franchise has already grown in value by $1 billion dollars while Lore and Arod made the deal at a $1.5 billion dollar evaluation.

[PanicWolf]

Arod not paying on time is more shady than Turd Ferguson pulling the deal. It’s such an appreciating asset how can’t you get the money lined up. Supposedly he tried to buy the marlins and pulled the same shit.

[Beef Supreme]

I guess the truth will come out during litigation.

It does seem really odd given that the franchise has already grown in value by $1 billion dollars while Lore and Arod made the deal at a $1.5 billion dollar evaluation.

That makes sense, but then why did they need so many extensions of deadlines during this process?



I’m guessing theres a big piece of this story we don’t know yet.

[weimy froob]

I guess the truth will come out during litigation.

It does seem really odd given that the franchise has already grown in value by $1 billion dollars while Lore and Arod made the deal at a $1.5 billion dollar evaluation.

That makes sense, but then why did they need so many extensions of deadlines during this process?



I’m guessing theres a big piece of this story we don’t know yet.

the piece is that they fucked up. it is known. there was a window to get everything completed. they didn't get it done in time. that's poor business. the other piece that people keep forgetting is that they still are minority owners. every dollar of appreciation would be shared proportionally. i think glen didn't like that they were dithering and let the deadline pass without getting the deal done and said fuck em i'm not selling now. it's his right as a business owner and he exerted it.

i'd also add that it's disrespectful not to get your financial house in order for the sale as the potential buyers. if there is a piece to the story that has only been hinted at it is that they weren't keeping glen up to date with what was happening and the problems they were having with their financing. the combination of all that on an appreciating asset would have me having no problem pulling the plug on the sale too. get your shit together or you're done. now they can come back and make another offer--but i'm sure that there'd only be an agreement if the price reflected the true value of the franchise.

[Beef Supreme]

I guess the truth will come out during litigation.

It does seem really odd given that the franchise has already grown in value by $1 billion dollars while Lore and Arod made the deal at a $1.5 billion dollar evaluation.

That makes sense, but then why did they need so many extensions of deadlines during this process?



I’m guessing theres a big piece of this story we don’t know yet.

the piece is that they fucked up. it is known. there was a window to get everything completed. they didn't get it done in time. that's poor business. the other piece that people keep forgetting is that they still are minority owners. every dollar of appreciation would be shared proportionally. i think glen didn't like that they were dithering and let the deadline pass without getting the deal done and said fuck em i'm not selling now. it's his right as a business owner and he exerted it.

i'd also add that it's disrespectful not to get your financial house in order for the sale as the potential buyers. if there is a piece to the story that has only been hinted at it is that they weren't keeping glen up to date with what was happening and the problems they were having with their financing. the combination of all that on an appreciating asset would have me having no problem pulling the plug on the sale too. get your shit together or you're done. now they can come back and make another offer--but i'm sure that there'd only be an agreement if the price reflected the true value of the franchise.

I know. But there’s the “why” that we’re missing. Why aren’t they getting their money in line. Why did they fuck up? I don’t believe they just forgot to send the check on time like it’s a monthly credit card bill. There’s a piece that hasn’t yet been revealed.

[weimy froob]

That makes sense, but then why did they need so many extensions of deadlines during this process?



I’m guessing theres a big piece of this story we don’t know yet.

the piece is that they fucked up. it is known. there was a window to get everything completed. they didn't get it done in time. that's poor business. the other piece that people keep forgetting is that they still are minority owners. every dollar of appreciation would be shared proportionally. i think glen didn't like that they were dithering and let the deadline pass without getting the deal done and said fuck em i'm not selling now. it's his right as a business owner and he exerted it.

i'd also add that it's disrespectful not to get your financial house in order for the sale as the potential buyers. if there is a piece to the story that has only been hinted at it is that they weren't keeping glen up to date with what was happening and the problems they were having with their financing. the combination of all that on an appreciating asset would have me having no problem pulling the plug on the sale too. get your shit together or you're done. now they can come back and make another offer--but i'm sure that there'd only be an agreement if the price reflected the true value of the franchise.

I know. But there’s the “why” that we’re missing. Why aren’t they getting their money in line. Why did they fuck up? I don’t believe they just forgot to send the check on time like it’s a monthly credit card bill. There’s a piece that hasn’t yet been revealed.

a big problem was that their original financing group pulled out on march 20. i posted that article in this thread earlier. that only gave them seven days to line everything up again. there's got to be some kind of story there why they backed out. when you don't keep the seller in the loop it can look like a clusterfuck to him and something that he doesn't want to deal with. owners/sellers can be particular. you need to show respect in your business dealings. especially important when you were getting such a good deal.

[Mplsfonz]

A-Rod and Lore had 3 freaking years. They F-up. EOS

[Hornets]

A-Rod and Lore had 3 freaking years. They F-up. EOS

This...simple as this.

[salamander]

I'm not taking sides on this. Just taking a wait and see approach.

But I do wonder why A-rod & Lore missed the milestones.
Missing your contractual obligations is a big deal when it comes to this kind of money.

There is definitely sellers remorse on Taylor's side.

[Mplsfonz]

I'm not taking sides on this. Just taking a wait and see approach.

But I do wonder why A-rod & Lore missed the milestones.
Missing your contractual obligations is a big deal when it comes to this kind of money.

There is definitely sellers remorse on Taylor's side.

Yeah, considering now they are an up and coming team and different than 3 years ago, they are worth way more than what Taylor sold them for. He's business man, he know the true value of the team, and even though he was making money off the deal, true business men are never happy.
He will hang onto it for a while (unless lawyers grant the sale) and will get out when it's at max value. (If he can find a buyer)
As long as they stay here I could care less who owns it.

[Oriole81]

I'm not taking sides on this. Just taking a wait and see approach.

But I do wonder why A-rod & Lore missed the milestones.
Missing your contractual obligations is a big deal when it comes to this kind of money.

There is definitely sellers remorse on Taylor's side.

Lore and A-Rod definitely shouldn't get the benefit of the doubt.

[salamander]

I'm not taking sides on this. Just taking a wait and see approach.

But I do wonder why A-rod & Lore missed the milestones.
Missing your contractual obligations is a big deal when it comes to this kind of money.

There is definitely sellers remorse on Taylor's side.

Yeah, considering now they are an up and coming team and different than 3 years ago, they are worth way more than what Taylor sold them for. He's business man, he know the true value of the team, and even though he was making money off the deal, true business men are never happy.
He will hang onto it for a while (unless lawyers grant the sale) and will get out when it's at max value. (If he can find a buyer)
As long as they stay here I could care less who owns it.

100% Agree.

[salamander]

I'm not taking sides on this. Just taking a wait and see approach.

But I do wonder why A-rod & Lore missed the milestones.
Missing your contractual obligations is a big deal when it comes to this kind of money.

There is definitely sellers remorse on Taylor's side.

Lore and A-Rod definitely shouldn't get the benefit of the doubt.

Also 100% agree.

[jffl_commish]

I'm not taking sides on this. Just taking a wait and see approach.

But I do wonder why A-rod & Lore missed the milestones.
Missing your contractual obligations is a big deal when it comes to this kind of money.

There is definitely sellers remorse on Taylor's side.

Lore and A-Rod definitely shouldn't get the benefit of the doubt.

Neither should Taylor.

[Oriole81]

I'm not taking sides on this. Just taking a wait and see approach.

But I do wonder why A-rod & Lore missed the milestones.
Missing your contractual obligations is a big deal when it comes to this kind of money.

There is definitely sellers remorse on Taylor's side.

Lore and A-Rod definitely shouldn't get the benefit of the doubt.

Neither should Taylor.

Agreed.
But I think too many people in here just wanted him to be the bad guy in this because of all the previous bad blood.
Even if he deserves that though, that still doesn't mean that Lore and A-Rod are in the right. They still are the ones that couldn't close on a sweetheart deal with 3 years of time.
Just because someone wants Taylor out, doesn't mean that they should be content with just anybody coming in.
Whether Lore and A-Rod are quality candidates has nothing to do with Taylor.

Calling out Lore and A-Rod doesn't equate to being pro-Taylor.
But if you've never been in the ownership game before and you've had to routinely request extensions on your PA just to get to this point, then you don't get to cry foul when the seller pulls the rug out eventually.

[UnFadeable21]

https://nypost.com/2024/03/28/sports/ma ... s-sources/

Timberwolves owner Glen Taylor on Thursday terminated the sale, ending Lore and A-Rod’s chances of buying a majority stake in the team.

Lore was willing to invest a relatively little amount of money, but wanted A-Rod, who had put in a lot less than Lore, to catch up in this new round of financing to a level much closer to what he had invested, sources with direct knowledge of the situation said.

The initial plan was Lore and A-Rod would invest roughly equally in the team.

That meant A-Rod needed to raise most of the money for this next investment round and he tried to for months.

A-Rod did not use an investment banker in recent months which could have helped, sources said.

He and Lore agreed to buy the Timberwolves in a three-step process in 2021 at a $1.5 billion valuation. They together have bought 40 percent of the team in two stages.

A-Rod, who is believed to be worth much less than Lore, needed to find the money for this next payment largely by himself, sources with direct knowledge of the situation said.

A-Rod was trying to sell interests in the new round of financing not at his $1.5 billion valuation but at a valuation of more than $2 billion, sources with close knowledge of the situation said.

The team in three years had gone up in value, based on other NBA sales, to roughly $3 billion.

A-Rod would have pocketed the difference between his buy-in price of $1.5 billion and the valuation at which he sold the stakes, sources close to the situation said.

Perhaps, he would have had an easier time had he lowered his expectations.

Not many parties wanted to play second fiddle to the Lore and A-Rod ownership group.

“Alex has gone through everyone,” a source who spoke recently to A-Rod and considered investing in the team said

A-Rod’s ace in the hole was private equity firm The Carlyle Group.

But, it took months for the NBA to approve Carlyle and ultimately it rejected Carlyle in the last few days, sources said

Still, A-Rod without Carlyle had a back-up plan and raised the money but the whole process was delayed

A-Rod and Lore maintain they met the deadline but Taylor disagrees and it will now be up to a mediator to decide.

What is clear is even if Lore and A-Rod had the money, they were waiting on NBA approval, which was not expected until an April Board of Governors meeting, sources said.

The deadline to complete the deal was March 27, and the question is whether the NBA extended the date, or even had the legal standing to do so.

After Taylor and the Timberwolves organization issued its initial statement saying that Rodriguez and Lore missed a March 27 financial deadline and that the team was “no longer for sale,” the pair issued a scathing statement of its own, accusing Taylor of “seller’s remorse.”

“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,” Rodriguez and Lore’s statement said.

“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.”

It now appears a mediator will decide what happens next.

The Timberwolves entered Thursday at 50-22, a half-game behind the defending champion Nuggets for the top seed in the Western Conference.

Terminating the deal would be great financially for Taylor.

Taylor should have little problem finding someone else to buy the 40 percent of the team and perhaps for as much as the $3 billion valuation, double what Lore and A-Rod agreed to pay, if he decides later to resell the stake, sources said.

Right now Lore is laser-focused on keeping his gourmet food delivery-company Wonder.

He has in recent months invested several hundred million in the money-losing start-up and just completed a $700 million round of financing, sources said.

The New York Times this month published a feature on Lore and his plans to make Wonder a $30 billion market cap company.

Wonder, as The Post reported exclusively, offered deep discounts to investors who bought convertible shares in the round valuing the company at $3.5 billion — the same valuation Wonder fetched when it last raised money in June 2022.

Lore owns more than half of the company, and it represents much of his net worth.

Under terms of the new offer, investors who bought the securities now will be granted the option of converting them into stock at a 50 percent discount to the company’s valuation during its next fund-raising round making this a down round.

Lore, who founded Diapers.com and famously sold his grocery start-up Jet.com to Walmart in 2016 for $3.3 billion, told Fox Business last month he now spends 100 hours a week on Wonder.

If Lore were to sell the stake he already bought in the team, estimated at 27 percent, he could double his money and use that to also help Wonder, or replenish his coffers.

Lore and A-Rod in 2020 also got close and failed to buy the Mets.

They lost to hedge fund billionaire Steve Cohen, who bought the team for $2.4 billion.

The Mets banker, in an unusual move in that auction, asked A-Rod for a sneak peek at their final offer. A-Rod showed the Mets.

Then Cohen reached a deal for just over that amount leading A-Rod to believe the process was rigged, The Post reported at the time.

For now, this seems like another tough loss.

[UnFadeable21]

It looks like Arod and Lore fucked up.

Lore paid for the majority of the first large payment to Glen Taylor. 27% of the 36% they current own of the Minnesota Timberwolves.

Lore then used the rest of his money to finance and work on his new company Wonder which is why he hasn’t been seen or attended any games this season like he was last year when he was visable at almost every home game.

Arod was to finance the majority of the second 40% ownership of the team and couldn’t come up with the money because he was trying to charge investors a premium price to join him and lore. They paid for the wolves at a valuation or 1.5 billion but we’re charging people a valuation of 2.3 billion to join.

Glen Taylor is gonna win this in court easy because simply the young guys didn’t and couldn’t pay on time.

[Oriole81]

It looks like Arod and Lore fucked up.

Lore paid for the majority of the first large payment to Glen Taylor. 27% of the 36% they current own of the Minnesota Timberwolves.

Lore then used the rest of his money to finance and work on his new company Wonder which is why he hasn’t been seen or attended any games this season like he was last year when he was visable at almost every home game.

Arod was to finance the majority of the second 40% ownership of the team and couldn’t come up with the money because he was trying to charge investors a premium price to join him and lore. They paid for the wolves at a valuation or 1.5 billion but we’re charging people a valuation of 2.3 billion to join.

Glen Taylor is gonna win this in court easy because simply the young guys didn’t and couldn’t pay on time.

I do remember that when this deal started, A-Rod was still dating J-Lo. I wonder if he thought he could use her financial standing to prop him up financially, even passively, because it doesn't seem like he as an individual should have the necessary capital to finance a majority share of a pro sports team.