Turd Taylor Out As Majority Owner

[flexbuffchest]

Hopefully today



BRING BACK KG. HE NEEDS TO BE A PART OF THIS SEASON

[OliverMiller]

It's funny that there was ever any doubt. There was zero chance they were going to pass on buying such a valuable asset at such a discount.

[Beef Supreme]

Hope these guys have the stones, and pockets, to keep this team together as long as it is successful.


Lord knows the community supports it.

[jffl_commish]

Good riddance.

[boxter432]

"Turd Taylor" almost always makes me laugh

[weimy froob]

It's funny that there was ever any doubt. There was zero chance they were going to pass on buying such a valuable asset at such a discount.

pretty sure they had to go find more money to buy the team though. the collateral of the discounted price for the franchise allowed them to--but it's still kind of a red flag to me.

[Beef Supreme]

It's funny that there was ever any doubt. There was zero chance they were going to pass on buying such a valuable asset at such a discount.

pretty sure they had to go find more money to buy the team though. the collateral of the discounted price for the franchise allowed them to--but it's still kind of a red flag to me.

This is what I’m afraid of.


As much as Taylor sucked, you knew he had the money. He got a rap for being cheap and selling picks, but he wasn’t afraid to pay for good teams. He broke the NBA with the contract he gave KG.


My fear is the team has a great run this year, but then makes basketball decisions based on finances that make the team worse but more solvent. That might be a dealbreaker for me. If that’s what they do, you can forget about this team ever mattering. Rosters that can compete for titles are expensive. If you can’t pay the cover, you can’t get into the show.

[flexbuffchest]

It's funny that there was ever any doubt. There was zero chance they were going to pass on buying such a valuable asset at such a discount.

pretty sure they had to go find more money to buy the team though. the collateral of the discounted price for the franchise allowed them to--but it's still kind of a red flag to me.

Lore never really had an issue, from what I remember it was just arod that was potentially having to come up with more money.

Lore is reportedly worth 4.1 billion while Glen is worth "only" $2.9 billion,.

https://www.dinosystem.com/marc-lore-ne ... lifestyle/

Marc Lore is the co-founder of Jet.com and has a net worth of $4.1 billion, making him one of the youngest billionaires ever created.

https://www.forbes.com/profile/glen-tay ... bb6e1b719b

[HeHateMe]

Good. Thankful Glen saved the team back in the 90s... and glad his time as the majority owner is coming to an end.

I do think Vegas and Seattle will get expansion franchises so I'm not too worried about the Wolves moving but it would not shock me if there are future markets (KC, Vancouver, Nashville?, Austin?) that are used as leverage to get the Wolves a new arena here. At this point I'd almost prefer the Wild and Wolves to go in together on a new arena...

[weimy froob]

Nov 21, 2023 -
Business
Scoop: A-Rod and Marc Lore talking to Carlyle about T-Wolves financing

Alex Rodriguez and Marc Lore are working toward a deal whereby private equity giant Carlyle Group would invest in their purchase of the Minnesota Timberwolves NBA franchise and Minnesota Lynx WNBA franchise, Axios has learned from several sources.

Why it matters: This would settle down widespread speculation that the pair's financing might not come together, and reflects the ever-climbing values of pro sports clubs.

Details: A-Rod and Lore agreed to buy the basketball clubs in mid-2021, via a tranched-out purchase at a $1.5 billion valuation. This included an initial 20% stake, which has now grown to 40%.

The pair have an option to add another 40%, which they must exercise by year-end and fund by next March. That's the piece Carlyle is expected to help with, although discussions remain ongoing with other investors that might take small pieces.
Carlyle's tentative investment would come at around a $2.3 billion valuation. Part of that premium is just tied to NBA price inflation since A-Rod and Lore signed their original deal — based on sales of clubs in Phoenix and Charlotte — but it's also because the T-Wolves have become a much better on-court product, which has translated into significantly higher attendance and TV ratings.
Look ahead: The remaining 20% stake would be held by current majority owner Glen Taylor, but Rodriguez and Lore have a future option to buy that piece as well.

https://www.axios.com/2023/11/21/a-rod- ... mberwolves

[OliverMiller]

Nov 21, 2023 -
Business
Scoop: A-Rod and Marc Lore talking to Carlyle about T-Wolves financing

Alex Rodriguez and Marc Lore are working toward a deal whereby private equity giant Carlyle Group would invest in their purchase of the Minnesota Timberwolves NBA franchise and Minnesota Lynx WNBA franchise, Axios has learned from several sources.

Why it matters: This would settle down widespread speculation that the pair's financing might not come together, and reflects the ever-climbing values of pro sports clubs.

Details: A-Rod and Lore agreed to buy the basketball clubs in mid-2021, via a tranched-out purchase at a $1.5 billion valuation. This included an initial 20% stake, which has now grown to 40%.

The pair have an option to add another 40%, which they must exercise by year-end and fund by next March. That's the piece Carlyle is expected to help with, although discussions remain ongoing with other investors that might take small pieces.
Carlyle's tentative investment would come at around a $2.3 billion valuation. Part of that premium is just tied to NBA price inflation since A-Rod and Lore signed their original deal — based on sales of clubs in Phoenix and Charlotte — but it's also because the T-Wolves have become a much better on-court product, which has translated into significantly higher attendance and TV ratings.
Look ahead: The remaining 20% stake would be held by current majority owner Glen Taylor, but Rodriguez and Lore have a future option to buy that piece as well.

https://www.axios.com/2023/11/21/a-rod- ... mberwolves

I still don't think those means the deal was ever in doubt. He isn't the typical made money from oil type owner, but the dude has never had an issue raising capital.

[somuchyummy]

I'm giving Glen a little slack lately even though his ownership of the team has left us with years of meh and worse. But he's ok. Just donated $172M dollars worth of farmland to three south Minnesota nonprofits - basically giving them a flush income stream to do their work into the next century.

[weimy froob]

Nov 21, 2023 -
Business
Scoop: A-Rod and Marc Lore talking to Carlyle about T-Wolves financing

Alex Rodriguez and Marc Lore are working toward a deal whereby private equity giant Carlyle Group would invest in their purchase of the Minnesota Timberwolves NBA franchise and Minnesota Lynx WNBA franchise, Axios has learned from several sources.

Why it matters: This would settle down widespread speculation that the pair's financing might not come together, and reflects the ever-climbing values of pro sports clubs.

Details: A-Rod and Lore agreed to buy the basketball clubs in mid-2021, via a tranched-out purchase at a $1.5 billion valuation. This included an initial 20% stake, which has now grown to 40%.

The pair have an option to add another 40%, which they must exercise by year-end and fund by next March. That's the piece Carlyle is expected to help with, although discussions remain ongoing with other investors that might take small pieces.
Carlyle's tentative investment would come at around a $2.3 billion valuation. Part of that premium is just tied to NBA price inflation since A-Rod and Lore signed their original deal — based on sales of clubs in Phoenix and Charlotte — but it's also because the T-Wolves have become a much better on-court product, which has translated into significantly higher attendance and TV ratings.
Look ahead: The remaining 20% stake would be held by current majority owner Glen Taylor, but Rodriguez and Lore have a future option to buy that piece as well.

https://www.axios.com/2023/11/21/a-rod- ... mberwolves

I still don't think those means the deal was ever in doubt. He isn't the typical made money from oil type owner, but the dude has never had an issue raising capital.

i never thought it was in doubt. i just am dubious about ownership that doesn't have ties to the region with this franchise. here's hoping that all doubts are ill-founded.

this story is basically a heads up on how they're financing the purchase.

[Jack Soo 5]

Hope these guys have the stones, and pockets, to keep this team together as long as it is successful.


Lord knows the community supports it.

What's their lasagna game like?

[jffl_commish]

I'm giving Glen a little slack lately even though his ownership of the team has left us with years of meh and worse. But he's ok. Just donated $172M dollars worth of farmland to three south Minnesota nonprofits - basically giving them a flush income stream to do their work into the next century.

Yet still pays his employees like dog shit

[flexbuffchest]

I'm giving Glen a little slack lately even though his ownership of the team has left us with years of meh and worse. But he's ok. Just donated $172M dollars worth of farmland to three south Minnesota nonprofits - basically giving them a flush income stream to do their work into the next century.

I don't doubt that Glen Taylor is a great human being. I'm sure he is. But as a sports owner? Heck no.

[YBBR]

Woohoo!

[somuchyummy]

You probably find nice guys who are billionaires and total psychopaths who are - but I would guess almost all live in an isolation chamber in terms of real feedback. Do you think anyone in the last twenty years has told Glen to his face, "Jesus Glen, you totally fucked that up."? Highly doubt it. The toadie factor has to be off the charts.

[Beef Supreme]

You probably find nice guys who are billionaires and total psychopaths who are - but I would guess almost all live in an isolation chamber in terms of real feedback. Do you think anyone in the last twenty years has told Glen to his face, "Jesus Glen, you totally fucked that up."? Highly doubt it. The toadie factor has to be off the charts.

Probably right.


I’m always torn on these billionaire charity donations. They affect so many lives in so many wonderful ways, you can’t help but be grateful and appreciative. But there’s almost no sacrifice for them. It’s nothing. It has less impact in their lives than if you or I donate $100 to something. Sometimes it’s even to their benefit with tax write-offs and whatnot. So I don’t want to praise them too much for ocassionally offering crumbs from the table.

That’s a general statement and not Taylor specific. I’m also sure there are cases where billionaires really did dig deep and make actual sacrifices, so I don’t want to paint with too broad a brush without acknowledging that.

[weimy froob]

I'm giving Glen a little slack lately even though his ownership of the team has left us with years of meh and worse. But he's ok. Just donated $172M dollars worth of farmland to three south Minnesota nonprofits - basically giving them a flush income stream to do their work into the next century.

the proceeds from the rented out land every year. creative philanthropy. the article's in the strib if anyone's interested.

[somuchyummy]

You probably find nice guys who are billionaires and total psychopaths who are - but I would guess almost all live in an isolation chamber in terms of real feedback. Do you think anyone in the last twenty years has told Glen to his face, "Jesus Glen, you totally fucked that up."? Highly doubt it. The toadie factor has to be off the charts.

Probably right.


I’m always torn on these billionaire charity donations. They affect so many lives in so many wonderful ways, you can’t help but be grateful and appreciative. But there’s almost no sacrifice for them. It’s nothing. It has less impact in their lives than if you or I donate $100 to something. Sometimes it’s even to their benefit with tax write-offs and whatnot. So I don’t want to praise them too much for ocassionally offering crumbs from the table.

That’s a general statement and not Taylor specific. I’m also sure there are cases where billionaires really did dig deep and make actual sacrifices, so I don’t want to paint with too broad a brush without acknowledging that.

But. He didn't just leave it to his family. As he said, the gift is hopefully a hundred year thing - keeping these orgs flush and not dependent every quarter on contributions. Allows them to plan way ahead too, which I'm sure they couldn't before. It's creative, and a great model for fat cats to make lasting positive contributions to society. And 80 years from now, no one is going to be singing the praises of Glen. He'll just be some guy's name on a plaque, he knows that and seems to be ok with it.

[Beef Supreme]

You probably find nice guys who are billionaires and total psychopaths who are - but I would guess almost all live in an isolation chamber in terms of real feedback. Do you think anyone in the last twenty years has told Glen to his face, "Jesus Glen, you totally fucked that up."? Highly doubt it. The toadie factor has to be off the charts.

Probably right.


I’m always torn on these billionaire charity donations. They affect so many lives in so many wonderful ways, you can’t help but be grateful and appreciative. But there’s almost no sacrifice for them. It’s nothing. It has less impact in their lives than if you or I donate $100 to something. Sometimes it’s even to their benefit with tax write-offs and whatnot. So I don’t want to praise them too much for ocassionally offering crumbs from the table.

That’s a general statement and not Taylor specific. I’m also sure there are cases where billionaires really did dig deep and make actual sacrifices, so I don’t want to paint with too broad a brush without acknowledging that.

But. He didn't just leave it to his family. As he said, the gift is hopefully a hundred year thing - keeping these orgs flush and not dependent every quarter on contributions. Allows them to plan way ahead too, which I'm sure they couldn't before. It's creative, and a great model for fat cats to make lasting positive contributions to society. And 80 years from now, no one is going to be singing the praises of Glen. He'll just be some guy's name on a plaque, he knows that and seems to be ok with it.

I know. It’s a great thing. I’m just always torn on how much praise I think these guys should get. That’s all.

[Catalyst]

I love how he has an article written in his own paper what a great dude he is.

[flexbuffchest]

Arod &Lore doing what Turd Taylor should have done years ago

[TrueBlue]

I love how he has an article written in his own paper what a great dude he is.

[OliverMiller]

I will say, I always thought A-Rod was a phony (and on some level he probably still is), but this was pretty damn good.

https://youtube.com/watch?v=kkDHplLJz5w ... 7XQSdvREA_

[flexbuffchest]

Best season in Wolves history by far.

Elite team
Turd Taylor out
KG comes back

[somuchyummy]

I'll just say I don't want KG in charge of free agency, trades or draft analysis.

[BuDG123]

Felipe has been running his league in the DR for years and is good friends with ARod. He was also asked to be part of the program, things seem to be progressing

[Mplsfonz]

I'll just say I don't want KG in charge of free agency, trades or draft analysis.

I don't want him involved in anything. At this point anything more than a cheerleader is too much.