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Turd Taylor Out As Majority Owner
- Charles Bronson
- Posts: 245
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Re: Turd Taylor Out As Majority Owner
Audiences like to see the bad guys get their comeuppance.
- Lightning
- KFAN Rube Chat Hall of Fame Member
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- Charles Bronson
- Posts: 245
- Joined: Mon Aug 28, 2017 11:18 pm
Re: Turd Taylor Out As Majority Owner
I just don’t get why it’s so hard for some people to communicate without being a complete d-bag about it.
It’s really not that hard.
Audiences like to see the bad guys get their comeuppance.
-
- Posts: 334
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Re: Turd Taylor Out As Majority Owner
Charles Bronson wrote: ↑Fri Apr 12, 2024 8:35 pmI just don’t get why it’s so hard for some people to communicate without being a complete d-bag about it.
It’s really not that hard.
- weimy froob
- Posts: 90731
- Joined: Thu Sep 07, 2017 11:10 am
Re: Turd Taylor Out As Majority Owner
Marc Lore, Alex Rodriguez return to Target Center amid Timberwolves’ ownership dispute
Current Timberwolves minority owners Alex Rodriguez and Marc Lore made their returns to Target Center on Friday for Minnesota’s bout with Atlanta, marking the duo’s first trip to a home game since the ownership dispute between current majority owner Glen Taylor and the tandem centering on who will own the team moving forward broke out two weeks ago.
While it could be viewed as an awkward distraction, it certainly didn’t carry that aura in the arena. Frankly, Wolves home games over the past two weeks have been void of mention of the ownership dispute, with players seemingly unbothered by it and fans focused far more on the on-court product.
The two entered discreetly, waiting until after the national anthem to walk into the lower bowl. They both sat on the side of the court opposite of Taylor. That’s where Rodriguez usually watches the games, while Lore’s traditional seats are just a few spots down from Taylor.
On Friday, The Athletic reported Lore and Rodriguez did submit financial commitments to the NBA on March 20 needed for their final payment. But that doesn’t necessarily equal payment. So whether the submission of those documents was enough to kick in the automatic 90-day extension to receive NBA approval listed in the purchase agreement remains to be seen.
The legal process will likely play out over several months, with mediation to take place weeks from now and arbitration to follow after.
So it makes sense for Lore and Rodriguez to attend games in the meantime. Any expectation that they’d entirely sit out a playoff run is, frankly, unreasonable. It’s not as though they’re barred from the arena. And, as NBA Commissioner Adam Silver noted this week, the league will not play a role in the legal process.
And, unless it’s a famous person about which they can get excited, the players likely don’t care who’s sitting courtside. So while maybe the owners will feel awkward at times during games if Rodriguez and Lore sit courtside, it’s unlikely anyone in the arena is affected to nearly the level that would be suggested by those opining on social media.
And yes, Lore and Rodriguez retired to their owners’ suite at halftime, ending any speculation that they’re blocked from using such amenities.
Current Timberwolves minority owners Alex Rodriguez and Marc Lore made their returns to Target Center on Friday for Minnesota’s bout with Atlanta, marking the duo’s first trip to a home game since the ownership dispute between current majority owner Glen Taylor and the tandem centering on who will own the team moving forward broke out two weeks ago.
While it could be viewed as an awkward distraction, it certainly didn’t carry that aura in the arena. Frankly, Wolves home games over the past two weeks have been void of mention of the ownership dispute, with players seemingly unbothered by it and fans focused far more on the on-court product.
The two entered discreetly, waiting until after the national anthem to walk into the lower bowl. They both sat on the side of the court opposite of Taylor. That’s where Rodriguez usually watches the games, while Lore’s traditional seats are just a few spots down from Taylor.
On Friday, The Athletic reported Lore and Rodriguez did submit financial commitments to the NBA on March 20 needed for their final payment. But that doesn’t necessarily equal payment. So whether the submission of those documents was enough to kick in the automatic 90-day extension to receive NBA approval listed in the purchase agreement remains to be seen.
The legal process will likely play out over several months, with mediation to take place weeks from now and arbitration to follow after.
So it makes sense for Lore and Rodriguez to attend games in the meantime. Any expectation that they’d entirely sit out a playoff run is, frankly, unreasonable. It’s not as though they’re barred from the arena. And, as NBA Commissioner Adam Silver noted this week, the league will not play a role in the legal process.
And, unless it’s a famous person about which they can get excited, the players likely don’t care who’s sitting courtside. So while maybe the owners will feel awkward at times during games if Rodriguez and Lore sit courtside, it’s unlikely anyone in the arena is affected to nearly the level that would be suggested by those opining on social media.
And yes, Lore and Rodriguez retired to their owners’ suite at halftime, ending any speculation that they’re blocked from using such amenities.
- witljon
- Posts: 16429
- Joined: Sun Aug 26, 2018 11:57 am
Re: Turd Taylor Out As Majority Owner
On Fox 9 news, Taylor said he’d like to keep this team together for the next 5 years. He didn’t seem to care about the luxury tax.
- Hornets
- Posts: 51389
- Joined: Wed Oct 04, 2017 8:46 pm
Re: Turd Taylor Out As Majority Owner
Saw that....not sure though that he'll still be alive in 5 years.
***THE REAL HORNETS HAS THOUSANDS OF POSTS and joined RC October 4, 2017!***
- witljon
- Posts: 16429
- Joined: Sun Aug 26, 2018 11:57 am
Re: Turd Taylor Out As Majority Owner
He didn’t sound too sure either that he’d still be alive. I find it a bit funny there’s rubes here who worry about salary cap like it’s their money while Taylor didn’t seem to worry at all.
-
- Posts: 334
- Joined: Thu Sep 21, 2023 11:31 am
Re: Turd Taylor Out As Majority Owner
I wonder what happens to the team if he does die while this is playing out?
- Beef Supreme
- Posts: 71593
- Joined: Thu Aug 31, 2017 11:49 pm
- Location: House of Representin'
Re: Turd Taylor Out As Majority Owner
I assume his wife would take over his ownership. Unless they’ve made other arrangements.A$$MAN wrote: ↑Thu Apr 18, 2024 11:46 pmI wonder what happens to the team if he does die while this is playing out?
“When stupidity is considered patriotism, it is unsafe to be intelligent.”
- Isaac Asimov
- Isaac Asimov
-
- Posts: 1373
- Joined: Fri Jul 27, 2018 9:32 am
Re: Turd Taylor Out As Majority Owner
Don’t give Lore and Arod any ideas. Can you see those 2 popping around corners in the Target Center and yelling boo trying to give ole Slinflint a heart attack???A$$MAN wrote: ↑Thu Apr 18, 2024 11:46 pmI wonder what happens to the team if he does die while this is playing out?
- flexbuffchest
- Posts: 26144
- Joined: Tue Aug 29, 2017 12:08 pm
Re: Turd Taylor Out As Majority Owner
Marc Lore and Alex Rodriguez are far from giving up on their goal of owning the Minnesota Timberwolves, sources close to the situation told The Post on Thursday.
On April 10, Lore attended the evening reception at the NBA Board of Governors meeting at the invitation of the NBA and mingled with Commissioner Adam Silver, two sources with direct knowledge of the situation said.
Timberwolves owner Glen Taylor attended the meetings during the day and then passed on the reception so he and Lore did not cross paths, a source said.
Taylor pulled the rug on transferring the controlling stake in the team to Lore and A-Rod, which had been the plan for three years, after he alleged that they did not come up with money in time by a March 27 deadline to increase their stake from 36 to 76 percent.
They had agreed to buy the team in 2021 in a three-part process at what is now a relatively cheap $1.5 billion valuation.
The team has risen in value to roughly $2.5 billion.
The WNBA’s Minnesota Lynx are also involved in the ownership situation.
Lore and A-Rod say they delivered the $520 million on time to increase their stake and will prevail in court.
Taylor and Lore are preparing for a May 2 mediation session with a Minnesota judge, sources said.
If they do not reach a compromise then, by the terms of the contract, they would go to arbitration which would likely happen around July, and a judge would decide who is right.
There had been speculation that Lore, who was not active in raising money for the March 27 payment, and was not putting much money into this round of financing, was not that concerned about taking majority ownership.
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 in February he spent 100 hours a week on his new Wonder food delivery business.
He has a much higher net worth than A-Rod, who was tasked with raising the money for the financing round.
By showing up to the Governors Meeting, Lore signaled that he was fully engaged in this legal fight, sources said.
Lore would be the controlling owner of the Timberwolves as opposed to his partner A-Rod.
Part of the argument Lore is making is that Taylor roughly a year ago bought four percent of the team from limited partners.
Now, Taylor owns 36.1 percent of the Timberwolves, and Lore and A-Rod 36 percent. Other investors own smaller stakes.
The theory goes that Taylor did this even though he was selling the team so when a legal fight happened about stopping Lore and A-Rod from increasing their stake, he would still have the largest equity position in the Timberwolves.
In other words, Lore and A-Rod believe he was plotting to stop this deal all along so they would not take control of the team regardless of whether they hit the deadline.
The NBA has chosen to publicly stay away from this fight as opposed to playing the referee.
On April 10, Lore attended the evening reception at the NBA Board of Governors meeting at the invitation of the NBA and mingled with Commissioner Adam Silver, two sources with direct knowledge of the situation said.
Timberwolves owner Glen Taylor attended the meetings during the day and then passed on the reception so he and Lore did not cross paths, a source said.
Taylor pulled the rug on transferring the controlling stake in the team to Lore and A-Rod, which had been the plan for three years, after he alleged that they did not come up with money in time by a March 27 deadline to increase their stake from 36 to 76 percent.
They had agreed to buy the team in 2021 in a three-part process at what is now a relatively cheap $1.5 billion valuation.
The team has risen in value to roughly $2.5 billion.
The WNBA’s Minnesota Lynx are also involved in the ownership situation.
Lore and A-Rod say they delivered the $520 million on time to increase their stake and will prevail in court.
Taylor and Lore are preparing for a May 2 mediation session with a Minnesota judge, sources said.
If they do not reach a compromise then, by the terms of the contract, they would go to arbitration which would likely happen around July, and a judge would decide who is right.
There had been speculation that Lore, who was not active in raising money for the March 27 payment, and was not putting much money into this round of financing, was not that concerned about taking majority ownership.
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 in February he spent 100 hours a week on his new Wonder food delivery business.
He has a much higher net worth than A-Rod, who was tasked with raising the money for the financing round.
By showing up to the Governors Meeting, Lore signaled that he was fully engaged in this legal fight, sources said.
Lore would be the controlling owner of the Timberwolves as opposed to his partner A-Rod.
Part of the argument Lore is making is that Taylor roughly a year ago bought four percent of the team from limited partners.
Now, Taylor owns 36.1 percent of the Timberwolves, and Lore and A-Rod 36 percent. Other investors own smaller stakes.
The theory goes that Taylor did this even though he was selling the team so when a legal fight happened about stopping Lore and A-Rod from increasing their stake, he would still have the largest equity position in the Timberwolves.
In other words, Lore and A-Rod believe he was plotting to stop this deal all along so they would not take control of the team regardless of whether they hit the deadline.
The NBA has chosen to publicly stay away from this fight as opposed to playing the referee.
“We will protect the fanbase from Glen Taylor” -Alex Rodriguez.
Marc Lore - “I don’t care if that wrinkly old chicken roaster has a few more hairs on his head than I do, a deal is a deal.”
Marc Lore - “I don’t care if that wrinkly old chicken roaster has a few more hairs on his head than I do, a deal is a deal.”
- witljon
- Posts: 16429
- Joined: Sun Aug 26, 2018 11:57 am
Re: Turd Taylor Out As Majority Owner
He stated in his interview with Jim Rich that his family would take over. That would mean daughter,, wife, and brother, I believe.A$$MAN wrote: ↑Thu Apr 18, 2024 11:46 pmI wonder what happens to the team if he does die while this is playing out?
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- KFAN Rube Chat Hall of Fame Member
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- Joined: Tue Sep 05, 2017 1:38 pm
Re: Turd Taylor Out As Majority Owner
I wish Lore would just buy this team outright. A-Rod seems like a sleaze... guy hadn't put much money in and was trying to get people to buy in for the 2.5 price so they'd cover his payments.flexbuffchest wrote: ↑Fri Apr 19, 2024 6:05 am Marc Lore and Alex Rodriguez are far from giving up on their goal of owning the Minnesota Timberwolves, sources close to the situation told The Post on Thursday.
On April 10, Lore attended the evening reception at the NBA Board of Governors meeting at the invitation of the NBA and mingled with Commissioner Adam Silver, two sources with direct knowledge of the situation said.
Timberwolves owner Glen Taylor attended the meetings during the day and then passed on the reception so he and Lore did not cross paths, a source said.
Taylor pulled the rug on transferring the controlling stake in the team to Lore and A-Rod, which had been the plan for three years, after he alleged that they did not come up with money in time by a March 27 deadline to increase their stake from 36 to 76 percent.
They had agreed to buy the team in 2021 in a three-part process at what is now a relatively cheap $1.5 billion valuation.
The team has risen in value to roughly $2.5 billion.
The WNBA’s Minnesota Lynx are also involved in the ownership situation.
Lore and A-Rod say they delivered the $520 million on time to increase their stake and will prevail in court.
Taylor and Lore are preparing for a May 2 mediation session with a Minnesota judge, sources said.
If they do not reach a compromise then, by the terms of the contract, they would go to arbitration which would likely happen around July, and a judge would decide who is right.
There had been speculation that Lore, who was not active in raising money for the March 27 payment, and was not putting much money into this round of financing, was not that concerned about taking majority ownership.
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 in February he spent 100 hours a week on his new Wonder food delivery business.
He has a much higher net worth than A-Rod, who was tasked with raising the money for the financing round.
By showing up to the Governors Meeting, Lore signaled that he was fully engaged in this legal fight, sources said.
Lore would be the controlling owner of the Timberwolves as opposed to his partner A-Rod.
Part of the argument Lore is making is that Taylor roughly a year ago bought four percent of the team from limited partners.
Now, Taylor owns 36.1 percent of the Timberwolves, and Lore and A-Rod 36 percent. Other investors own smaller stakes.
The theory goes that Taylor did this even though he was selling the team so when a legal fight happened about stopping Lore and A-Rod from increasing their stake, he would still have the largest equity position in the Timberwolves.
In other words, Lore and A-Rod believe he was plotting to stop this deal all along so they would not take control of the team regardless of whether they hit the deadline.
The NBA has chosen to publicly stay away from this fight as opposed to playing the referee.
-
- Posts: 334
- Joined: Thu Sep 21, 2023 11:31 am
Re: Turd Taylor Out As Majority Owner
Exactly! Since this all started I've wondered why Lore even bothered partnering with ARod since he doesn't have the money. I believe it was stated that this exact thing happened to them when they tried to purchase the Marlins? Either way, Lore should have just done this on his own...or found a more viable partner.HeHateMe wrote: ↑Fri Apr 19, 2024 7:18 amI wish Lore would just buy this team outright. A-Rod seems like a sleaze... guy hadn't put much money in and was trying to get people to buy in for the 2.5 price so they'd cover his payments.flexbuffchest wrote: ↑Fri Apr 19, 2024 6:05 am Marc Lore and Alex Rodriguez are far from giving up on their goal of owning the Minnesota Timberwolves, sources close to the situation told The Post on Thursday.
On April 10, Lore attended the evening reception at the NBA Board of Governors meeting at the invitation of the NBA and mingled with Commissioner Adam Silver, two sources with direct knowledge of the situation said.
Timberwolves owner Glen Taylor attended the meetings during the day and then passed on the reception so he and Lore did not cross paths, a source said.
Taylor pulled the rug on transferring the controlling stake in the team to Lore and A-Rod, which had been the plan for three years, after he alleged that they did not come up with money in time by a March 27 deadline to increase their stake from 36 to 76 percent.
They had agreed to buy the team in 2021 in a three-part process at what is now a relatively cheap $1.5 billion valuation.
The team has risen in value to roughly $2.5 billion.
The WNBA’s Minnesota Lynx are also involved in the ownership situation.
Lore and A-Rod say they delivered the $520 million on time to increase their stake and will prevail in court.
Taylor and Lore are preparing for a May 2 mediation session with a Minnesota judge, sources said.
If they do not reach a compromise then, by the terms of the contract, they would go to arbitration which would likely happen around July, and a judge would decide who is right.
There had been speculation that Lore, who was not active in raising money for the March 27 payment, and was not putting much money into this round of financing, was not that concerned about taking majority ownership.
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 in February he spent 100 hours a week on his new Wonder food delivery business.
He has a much higher net worth than A-Rod, who was tasked with raising the money for the financing round.
By showing up to the Governors Meeting, Lore signaled that he was fully engaged in this legal fight, sources said.
Lore would be the controlling owner of the Timberwolves as opposed to his partner A-Rod.
Part of the argument Lore is making is that Taylor roughly a year ago bought four percent of the team from limited partners.
Now, Taylor owns 36.1 percent of the Timberwolves, and Lore and A-Rod 36 percent. Other investors own smaller stakes.
The theory goes that Taylor did this even though he was selling the team so when a legal fight happened about stopping Lore and A-Rod from increasing their stake, he would still have the largest equity position in the Timberwolves.
In other words, Lore and A-Rod believe he was plotting to stop this deal all along so they would not take control of the team regardless of whether they hit the deadline.
The NBA has chosen to publicly stay away from this fight as opposed to playing the referee.
- PanicWolf
- Posts: 640
- Joined: Wed Sep 20, 2017 11:59 am
Re: Turd Taylor Out As Majority Owner
Official request to shut down this thread during the playoffs.
- DonaldDouchebag
- Posts: 26372
- Joined: Mon Sep 11, 2017 8:37 am
Re: Turd Taylor Out As Majority Owner
I say we keep it open. I like a little turd in my punch.
Like that, y'all, pop some more shit.
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- ***Official Gibby Award Winner - April 2019***
- Posts: 40449
- Joined: Thu Sep 07, 2017 1:37 pm
-
- Posts: 1373
- Joined: Fri Jul 27, 2018 9:32 am
Re: Turd Taylor Out As Majority Owner
Keep it open. I said i wouldn’t post anything in this thread until more info comes out and it looks like May 2nd is the next date anything of substance might be revealed, but might be longer.
I’ll stand by my word and not post any anti Taylor remarks until more facts are released that would support such opinions.
- Jimi_Thing
- Posts: 15802
- Joined: Sun Sep 10, 2017 6:53 pm
Re: Turd Taylor Out As Majority Owner
What about that hot piece of cougar ass that sits next to him? I’m assuming that’s his wife. Give it all to her!
- flexbuffchest
- Posts: 26144
- Joined: Tue Aug 29, 2017 12:08 pm
Re: Turd Taylor Out As Majority Owner
Pass.Jimi_Thing wrote: ↑Fri Apr 19, 2024 9:23 pmWhat about that hot piece of cougar ass that sits next to him? I’m assuming that’s his wife. Give it all to her!
It was/is probably her idea to do the lasagna team meals. Can't have someone that pushes lasagna pot lucks leading this team!
“We will protect the fanbase from Glen Taylor” -Alex Rodriguez.
Marc Lore - “I don’t care if that wrinkly old chicken roaster has a few more hairs on his head than I do, a deal is a deal.”
Marc Lore - “I don’t care if that wrinkly old chicken roaster has a few more hairs on his head than I do, a deal is a deal.”
-
- KFAN Rube Chat Hall of Fame Member
- Posts: 15896
- Joined: Tue Sep 05, 2017 1:38 pm
Re: Turd Taylor Out As Majority Owner
Becky's lasagna deserves praise, not hate!flexbuffchest wrote: ↑Sat Apr 20, 2024 8:20 amPass.Jimi_Thing wrote: ↑Fri Apr 19, 2024 9:23 pmWhat about that hot piece of cougar ass that sits next to him? I’m assuming that’s his wife. Give it all to her!
It was/is probably her idea to do the lasagna team meals. Can't have someone that pushes lasagna pot lucks leading this team!
- flexbuffchest
- Posts: 26144
- Joined: Tue Aug 29, 2017 12:08 pm
Re: Turd Taylor Out As Majority Owner
“We will protect the fanbase from Glen Taylor” -Alex Rodriguez.
Marc Lore - “I don’t care if that wrinkly old chicken roaster has a few more hairs on his head than I do, a deal is a deal.”
Marc Lore - “I don’t care if that wrinkly old chicken roaster has a few more hairs on his head than I do, a deal is a deal.”
-
- Posts: 3049
- Joined: Wed Oct 18, 2017 8:15 pm
Re: Turd Taylor Out As Majority Owner
Yet another piece implicating Taylor never intended to sell the team and this having nothing to do with arod/lore not having the funds. Get over your hatred for arod, taylor is a snake and needs to go!
https://huddleup.substack.com/p/the-i ... taylor
It’s a very long read but I’ll post some of the more damning parts below.
“But more importantly, through my conversations with sources, I’ve discovered that Taylor's cancellation of the deal was more about cold feet than it was about Rodriguez and Lore not having the money.”
“Sources close to the situation tell me that since Taylor sold his personal equity to Rodriguez and Lore, rather than LP equity, his ownership stake in the team actually fell below Rodriguez and Lore — ~34% for Taylor to ~36% for Rodriguez and Lore.
But rather than letting this happen, which was going to happen anyway during the next acquisition payment, sources said Taylor quietly purchased a small equity stake from an existing limited partner. I’m told that the limited partner was Bill Sexton, and his 2.96% equity stake (combined with Taylor’s existing ~34% stake), put the current Timberwolves owner back in front of Rodriguez and Lore — 37% to 36%.
The obvious question is why would Taylor do that? Except, there really isn’t a good answer, unless we assume he never intended to follow through on the deal.”
“Interestingly enough, the actual equity purchase agreement between Taylor and Rodriguez/Lore was made public through the lawsuit I previously mentioned between Taylor and Meyer Orbach, an existing Minnesota Timberwolves limited partner.
I wasn’t able to get an opinion from any of the lawyers who worked on this specific agreement. But I ran it by several sources who have worked on dozens of sports transactions, and the overwhelming opinion is that, unless there is something we don’t know, Rodriguez and Lore should be entitled to the 90-day extension.”
“also think it’s worth noting that Taylor has changed his story multiple times. At first, it was that Rodriguez and Lore didn’t have the money. Then, after several outlets, including The Athletic, reviewed financial documentation proving they submitted a fully capitalized offer to the NBA, the league’s top insider insinuated they were cheap.
So, are they too flashy for spending $40 million on an executive and $10 million on an in-arena owners suite? Or are they too cheap for submitting a financial projection that would have put the the Timberwolves under the luxury tax threshold next season?
Maybe it’s both, but you could see why the stories start to contradict each other.”
“Taylor is 83 years old. He is currently overseeing the best Timberwolves team he’s had in decades, and he doesn’t intend to give that up without a fight, whether fair or foul.
However, from everything I’ve gathered, it may not be his choice. Legal experts say the contract is “ironclad.” His limited partners are getting more upset every day this drags on. It appears Taylor has undermined the agreement from Day 1, and even his best efforts won’t let him void a signed contract just because the team got better.”
And also, for the ppl crying about lore and arod submitting financial paperwork showing an unwillingness to go into the luxury tax next year:
“Someone has already leaked a document to NBA insider Adrian Wojnarowski, claiming Taylor got nervous that Rodriguez and Lore were going to blow up a championship-contending team because they submitted a financial plan to the NBA that placed the franchise under the luxury tax threshold.
“After decades of futility, the Timberwolves are the West’s top seed, and Lore and Rodriguez’s cost-cutting projections were among the concerns that led Taylor to void a contract that would’ve finalized the sale of the Timberwolves,” said Wojnarowski.
My sources confirmed this is true — Rodriguez and Lore did submit a projection that put them under the salary cap next season. However, I’m also told that this is relatively normal, with many owners choosing to submit lower projections only to revise them at a later date once they see how competitive their team is in the playoffs.”
I dare someone to defend Taylor after this
https://huddleup.substack.com/p/the-i ... taylor
It’s a very long read but I’ll post some of the more damning parts below.
“But more importantly, through my conversations with sources, I’ve discovered that Taylor's cancellation of the deal was more about cold feet than it was about Rodriguez and Lore not having the money.”
“Sources close to the situation tell me that since Taylor sold his personal equity to Rodriguez and Lore, rather than LP equity, his ownership stake in the team actually fell below Rodriguez and Lore — ~34% for Taylor to ~36% for Rodriguez and Lore.
But rather than letting this happen, which was going to happen anyway during the next acquisition payment, sources said Taylor quietly purchased a small equity stake from an existing limited partner. I’m told that the limited partner was Bill Sexton, and his 2.96% equity stake (combined with Taylor’s existing ~34% stake), put the current Timberwolves owner back in front of Rodriguez and Lore — 37% to 36%.
The obvious question is why would Taylor do that? Except, there really isn’t a good answer, unless we assume he never intended to follow through on the deal.”
“Interestingly enough, the actual equity purchase agreement between Taylor and Rodriguez/Lore was made public through the lawsuit I previously mentioned between Taylor and Meyer Orbach, an existing Minnesota Timberwolves limited partner.
I wasn’t able to get an opinion from any of the lawyers who worked on this specific agreement. But I ran it by several sources who have worked on dozens of sports transactions, and the overwhelming opinion is that, unless there is something we don’t know, Rodriguez and Lore should be entitled to the 90-day extension.”
“also think it’s worth noting that Taylor has changed his story multiple times. At first, it was that Rodriguez and Lore didn’t have the money. Then, after several outlets, including The Athletic, reviewed financial documentation proving they submitted a fully capitalized offer to the NBA, the league’s top insider insinuated they were cheap.
So, are they too flashy for spending $40 million on an executive and $10 million on an in-arena owners suite? Or are they too cheap for submitting a financial projection that would have put the the Timberwolves under the luxury tax threshold next season?
Maybe it’s both, but you could see why the stories start to contradict each other.”
“Taylor is 83 years old. He is currently overseeing the best Timberwolves team he’s had in decades, and he doesn’t intend to give that up without a fight, whether fair or foul.
However, from everything I’ve gathered, it may not be his choice. Legal experts say the contract is “ironclad.” His limited partners are getting more upset every day this drags on. It appears Taylor has undermined the agreement from Day 1, and even his best efforts won’t let him void a signed contract just because the team got better.”
And also, for the ppl crying about lore and arod submitting financial paperwork showing an unwillingness to go into the luxury tax next year:
“Someone has already leaked a document to NBA insider Adrian Wojnarowski, claiming Taylor got nervous that Rodriguez and Lore were going to blow up a championship-contending team because they submitted a financial plan to the NBA that placed the franchise under the luxury tax threshold.
“After decades of futility, the Timberwolves are the West’s top seed, and Lore and Rodriguez’s cost-cutting projections were among the concerns that led Taylor to void a contract that would’ve finalized the sale of the Timberwolves,” said Wojnarowski.
My sources confirmed this is true — Rodriguez and Lore did submit a projection that put them under the salary cap next season. However, I’m also told that this is relatively normal, with many owners choosing to submit lower projections only to revise them at a later date once they see how competitive their team is in the playoffs.”
I dare someone to defend Taylor after this
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Re: Turd Taylor Out As Majority Owner
At the end of the day, we just need to let this play out, and hope whoever the owner ends up being that they are serious about winning.SKOLMN wrote: ↑Tue Apr 23, 2024 10:34 am Yet another piece implicating Taylor never intended to sell the team and this having nothing to do with arod/lore not having the funds. Get over your hatred for arod, taylor is a snake and needs to go!
https://huddleup.substack.com/p/the-i ... taylor
It’s a very long read but I’ll post some of the more damning parts below.
“But more importantly, through my conversations with sources, I’ve discovered that Taylor's cancellation of the deal was more about cold feet than it was about Rodriguez and Lore not having the money.”
“Sources close to the situation tell me that since Taylor sold his personal equity to Rodriguez and Lore, rather than LP equity, his ownership stake in the team actually fell below Rodriguez and Lore — ~34% for Taylor to ~36% for Rodriguez and Lore.
But rather than letting this happen, which was going to happen anyway during the next acquisition payment, sources said Taylor quietly purchased a small equity stake from an existing limited partner. I’m told that the limited partner was Bill Sexton, and his 2.96% equity stake (combined with Taylor’s existing ~34% stake), put the current Timberwolves owner back in front of Rodriguez and Lore — 37% to 36%.
The obvious question is why would Taylor do that? Except, there really isn’t a good answer, unless we assume he never intended to follow through on the deal.”
“Interestingly enough, the actual equity purchase agreement between Taylor and Rodriguez/Lore was made public through the lawsuit I previously mentioned between Taylor and Meyer Orbach, an existing Minnesota Timberwolves limited partner.
I wasn’t able to get an opinion from any of the lawyers who worked on this specific agreement. But I ran it by several sources who have worked on dozens of sports transactions, and the overwhelming opinion is that, unless there is something we don’t know, Rodriguez and Lore should be entitled to the 90-day extension.”
“also think it’s worth noting that Taylor has changed his story multiple times. At first, it was that Rodriguez and Lore didn’t have the money. Then, after several outlets, including The Athletic, reviewed financial documentation proving they submitted a fully capitalized offer to the NBA, the league’s top insider insinuated they were cheap.
So, are they too flashy for spending $40 million on an executive and $10 million on an in-arena owners suite? Or are they too cheap for submitting a financial projection that would have put the the Timberwolves under the luxury tax threshold next season?
Maybe it’s both, but you could see why the stories start to contradict each other.”
“Taylor is 83 years old. He is currently overseeing the best Timberwolves team he’s had in decades, and he doesn’t intend to give that up without a fight, whether fair or foul.
However, from everything I’ve gathered, it may not be his choice. Legal experts say the contract is “ironclad.” His limited partners are getting more upset every day this drags on. It appears Taylor has undermined the agreement from Day 1, and even his best efforts won’t let him void a signed contract just because the team got better.”
And also, for the ppl crying about lore and arod submitting financial paperwork showing an unwillingness to go into the luxury tax next year:
“Someone has already leaked a document to NBA insider Adrian Wojnarowski, claiming Taylor got nervous that Rodriguez and Lore were going to blow up a championship-contending team because they submitted a financial plan to the NBA that placed the franchise under the luxury tax threshold.
“After decades of futility, the Timberwolves are the West’s top seed, and Lore and Rodriguez’s cost-cutting projections were among the concerns that led Taylor to void a contract that would’ve finalized the sale of the Timberwolves,” said Wojnarowski.
My sources confirmed this is true — Rodriguez and Lore did submit a projection that put them under the salary cap next season. However, I’m also told that this is relatively normal, with many owners choosing to submit lower projections only to revise them at a later date once they see how competitive their team is in the playoffs.”
I dare someone to defend Taylor after this
- flexbuffchest
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Re: Turd Taylor Out As Majority Owner
∆ just read that whole piece. The most thorough one to date.
Reinforces that Glen is a bigger snake than we all may have realized and that his goose may be cooked.
Reinforces that Glen is a bigger snake than we all may have realized and that his goose may be cooked.
“We will protect the fanbase from Glen Taylor” -Alex Rodriguez.
Marc Lore - “I don’t care if that wrinkly old chicken roaster has a few more hairs on his head than I do, a deal is a deal.”
Marc Lore - “I don’t care if that wrinkly old chicken roaster has a few more hairs on his head than I do, a deal is a deal.”
- Lightning
- KFAN Rube Chat Hall of Fame Member
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Re: Turd Taylor Out As Majority Owner
not surprised, at all.
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Re: Turd Taylor Out As Majority Owner
I look forward to this getting resolved. I still don't trust anything that comes out of Alex Rodriguez's mouth... I don't think Lore has done anything to break trust at this point.flexbuffchest wrote: ↑Tue Apr 23, 2024 11:07 am ∆ just read that whole piece. The most thorough one to date.
Reinforces that Glen is a bigger snake than we all may have realized and that his goose may be cooked.
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Re: Turd Taylor Out As Majority Owner
Not sure of the author of this and how “reliable” he is. If this is true, it’s EVERYTHING I have said in this thread. Ole Skinflint got cold feet, plain and simple. If he was serious about selling , why not just find another buyer, why pull them off the market altogether? He’s just seen franchises skyrocket in value and he’s looking to get out of a bad business deal he agreed to.SKOLMN wrote: ↑Tue Apr 23, 2024 10:34 am Yet another piece implicating Taylor never intended to sell the team and this having nothing to do with arod/lore not having the funds. Get over your hatred for arod, taylor is a snake and needs to go!
https://huddleup.substack.com/p/the-i ... taylor
It’s a very long read but I’ll post some of the more damning parts below.
“But more importantly, through my conversations with sources, I’ve discovered that Taylor's cancellation of the deal was more about cold feet than it was about Rodriguez and Lore not having the money.”
“Sources close to the situation tell me that since Taylor sold his personal equity to Rodriguez and Lore, rather than LP equity, his ownership stake in the team actually fell below Rodriguez and Lore — ~34% for Taylor to ~36% for Rodriguez and Lore.
But rather than letting this happen, which was going to happen anyway during the next acquisition payment, sources said Taylor quietly purchased a small equity stake from an existing limited partner. I’m told that the limited partner was Bill Sexton, and his 2.96% equity stake (combined with Taylor’s existing ~34% stake), put the current Timberwolves owner back in front of Rodriguez and Lore — 37% to 36%.
The obvious question is why would Taylor do that? Except, there really isn’t a good answer, unless we assume he never intended to follow through on the deal.”
“Interestingly enough, the actual equity purchase agreement between Taylor and Rodriguez/Lore was made public through the lawsuit I previously mentioned between Taylor and Meyer Orbach, an existing Minnesota Timberwolves limited partner.
I wasn’t able to get an opinion from any of the lawyers who worked on this specific agreement. But I ran it by several sources who have worked on dozens of sports transactions, and the overwhelming opinion is that, unless there is something we don’t know, Rodriguez and Lore should be entitled to the 90-day extension.”
“also think it’s worth noting that Taylor has changed his story multiple times. At first, it was that Rodriguez and Lore didn’t have the money. Then, after several outlets, including The Athletic, reviewed financial documentation proving they submitted a fully capitalized offer to the NBA, the league’s top insider insinuated they were cheap.
So, are they too flashy for spending $40 million on an executive and $10 million on an in-arena owners suite? Or are they too cheap for submitting a financial projection that would have put the the Timberwolves under the luxury tax threshold next season?
Maybe it’s both, but you could see why the stories start to contradict each other.”
“Taylor is 83 years old. He is currently overseeing the best Timberwolves team he’s had in decades, and he doesn’t intend to give that up without a fight, whether fair or foul.
However, from everything I’ve gathered, it may not be his choice. Legal experts say the contract is “ironclad.” His limited partners are getting more upset every day this drags on. It appears Taylor has undermined the agreement from Day 1, and even his best efforts won’t let him void a signed contract just because the team got better.”
And also, for the ppl crying about lore and arod submitting financial paperwork showing an unwillingness to go into the luxury tax next year:
“Someone has already leaked a document to NBA insider Adrian Wojnarowski, claiming Taylor got nervous that Rodriguez and Lore were going to blow up a championship-contending team because they submitted a financial plan to the NBA that placed the franchise under the luxury tax threshold.
“After decades of futility, the Timberwolves are the West’s top seed, and Lore and Rodriguez’s cost-cutting projections were among the concerns that led Taylor to void a contract that would’ve finalized the sale of the Timberwolves,” said Wojnarowski.
My sources confirmed this is true — Rodriguez and Lore did submit a projection that put them under the salary cap next season. However, I’m also told that this is relatively normal, with many owners choosing to submit lower projections only to revise them at a later date once they see how competitive their team is in the playoffs.”
I dare someone to defend Taylor after this
If Arod and Lote were truly looking to get under the cap, WHY IN THE HELL would they approve extensions for McDaniels and Conley? 2 guys that could be replaceable at cheaper prices. It didn’t make sense then, doesn’t make sense now and doesn’t support that notion.
We will see how this plays out. Again, wait for hard core proof to cast final judgment on Slinflint Taylor:
- jffl_commish
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Re: Turd Taylor Out As Majority Owner
How anyone can ever defend that POS Taylor is beyond me.
Let's get Tropical