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Post by Nick K on Mar 28, 2024 12:23:09 GMT -6
Another new low for Glen? I am shocked to read the news. I honestly feel embarrassed. If this turns out to be an issue with Glen being a snake....I have supported him in the past and that support will be gone. I'm with you on this one kingsxman. I'll forever appreciate Glen for keeping the team here but if the Lore group really did have the money all set to go this would put Glen in a bad light. Very snake like.
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Post by tmirvin on Mar 28, 2024 12:35:39 GMT -6
I hate Taylor! I'm assuming all the positive moves, both inside the arena and construction of the team, were mostly arod & lore. If that assumption is correct and Taylor resumes making team decisions and things go south, what a waste of being a fan for the last 35 years. Maybe arod & lore could pay money to lock KG & Taylor in a room together.
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Post by levine on Mar 28, 2024 12:42:42 GMT -6
If this turns out to be an issue with Glen being a snake....I have supported him in the past and that support will be gone. I'm with you on this one kingsxman. I'll forever appreciate Glen for keeping the team here but if the Lore group really did have the money all set to go this would put Glen in a bad light. Very snake like. No one looks good here. Glen looks like Mr. Burns and Lore and ARod look like inept snake oil salesmen.
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Post by XRaySpecs on Mar 28, 2024 12:56:13 GMT -6
They might not be out. I can see their side if they really had the money set up with their limited partner and ok'd by the league. Obviously this will go to arbritation. Maybe this is a bad move by Glen. It's tough to tell at this point. I'm sure you're right that this isn't the end. Depending on the valuation currently (I've seen as high as $2.8B projected for the Wolves), it's over billion dollars difference. That's obviously worth fighting over unless there's something behind the scenes that makes it a slam dunk case contractually. Regardless of what happens with the actual ownership, it's 100% a bad move by Glen in the PR department. He's going to come off as greedy and rightly so. Not saying he might not have the right to do what he's doing contractually, but it's 100% self interest. If he really wanted the sale to keep moving forward, he could have. He talked about communication breaking down, but that's a 2 way street. If he didn't want what happened today to happen, he could have just reached out months ago to Lore and let them know what he thought the deal meant in terms of being on target with approvals etc. He didn't do that though. He wanted it to fall apart and so he stayed quiet until he could come out today saying they didn't meet the contract terms. Glen wanted this.
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Post by XRaySpecs on Mar 28, 2024 12:58:23 GMT -6
Just wait...this ends with us rooting for Ant in Seattle or Las Vegas.
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Post by cory on Mar 28, 2024 13:02:47 GMT -6
This will be ugly. Common sense would say that if Glen was upset with them missing benchmarks, he should have been vocal or pulled the plug earlier. I assume that ability was there. Doing so right now if they actually had the cash and had met the Glen approved checkpoints up until this point, whether they were extended or not through Glen's approval would lead me to think that Glen doesn't have much standing. I really worry that the franchise is on the upswing, Glen likely wants to go out a winner, and the Lore/ARod relationship likely dwindled to a point that Glen was feeling a lot of FOMO. Tough to make sense and we'll see where the reporting goes but Glen has a long history of questionable, uneven, or just odd decision making when it comes to the Wolves. Unless he feared they were moving the team somehow or they actually didn't have the cash, I am dubious of Glen's public comments. This won't be his first lawsuit from a minority owner either. A lot of odd things swirl around this guy and his NBA ownership history.
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Post by levine on Mar 28, 2024 13:21:20 GMT -6
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Post by cory on Mar 28, 2024 13:21:32 GMT -6
Is this peak Glen Taylor owning the Wolves cluster f--kery or is it bottom of the barrel Glen Taylor cluster f--kery? I can't tell.
Jon K's last tweet seemed to hint that Glen just did get cold feet and doesn't want to sell and he's using missed deadlines as the excuse. The question is though do they have the cash now or as of yesterday? Did they screw up dates because of leap year? What is going on? Of all the times to have this b.s. happen, it happens during the best season in franchise history.
Glen has somehow outdone himself.
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Post by levine on Mar 28, 2024 13:28:45 GMT -6
Dan Bowling (who has been on Dane Moore's podcast a few times during all this):
“These guys came in and helped me have the best team I’ve ever had. Now I can sell for more so I’m going to do all I can to do that” - what I hear him saying.
Whole thing is odd though. They definitely have enough money. Seems to me Glen is trying to get out of his own deal.
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They can totally afford it. So, from what I know, he’s just trying to back out of his own deal. Either totally legal or totally 🐍- we shall see.
Always interesting with Glen.
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Good news is, they do own 40% and that can’t be disputed. Also, Glen isn’t young and his fam doesn’t want it.
They all need to work together so I’m sure they will figure it out.
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I think they still close the deal. They believe they haven’t missed a deadline and also absolutely have enough money. Lore just put $100M into Wonder.
Glen has been on the record at least twice stating things that aren’t true, like when he said they missed the deadline of March 1st, when it’s really end of Q1.
Not sure what’s going on, but likely Glen to blame. We shall see though.
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Post by quinn on Mar 28, 2024 13:37:58 GMT -6
Dan Bowling (who has been on Dane Moore's podcast a few times during all this):“These guys came in and helped me have the best team I’ve ever had. Now I can sell for more so I’m going to do all I can to do that” - what I hear him saying. Whole thing is odd though. They definitely have enough money. Seems to me Glen is trying to get out of his own deal. --------- They can totally afford it. So, from what I know, he’s just trying to back out of his own deal. Either totally legal or totally 🐍- we shall see. Always interesting with Glen. --------- Good news is, they do own 40% and that can’t be disputed. Also, Glen isn’t young and his fam doesn’t want it. They all need to work together so I’m sure they will figure it out. --------- I think they still close the deal. They believe they haven’t missed a deadline and also absolutely have enough money. Lore just put $100M into Wonder. Glen has been on the record at least twice stating things that aren’t true, like when he said they missed the deadline of March 1st, when it’s really end of Q1. Not sure what’s going on, but likely Glen to blame. We shall see though. Reeeeally interesting. Bowling is super invested in Lore as a businessman, so I actually trust him more than almost anyone on this. It really is starting to sound more like Lo-Rod capitalized on a great opportunity (a crappy deal for Glen) and now Glen, realizing how good the team is and how high its value has skyrocketed, is getting cold feet. It really strikes me as a kid who's taking his ball and going home.
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Post by jojo on Mar 28, 2024 13:55:15 GMT -6
Dan Bowling (who has been on Dane Moore's podcast a few times during all this):“These guys came in and helped me have the best team I’ve ever had. Now I can sell for more so I’m going to do all I can to do that” - what I hear him saying. Whole thing is odd though. They definitely have enough money. Seems to me Glen is trying to get out of his own deal. --------- They can totally afford it. So, from what I know, he’s just trying to back out of his own deal. Either totally legal or totally 🐍- we shall see. Always interesting with Glen. --------- Good news is, they do own 40% and that can’t be disputed. Also, Glen isn’t young and his fam doesn’t want it. They all need to work together so I’m sure they will figure it out. --------- I think they still close the deal. They believe they haven’t missed a deadline and also absolutely have enough money. Lore just put $100M into Wonder. Glen has been on the record at least twice stating things that aren’t true, like when he said they missed the deadline of March 1st, when it’s really end of Q1. Not sure what’s going on, but likely Glen to blame. We shall see though. Bowling is a Lore guy so he’s going to take his side. Ive heard him before with Dane go up and down at how Lore doesn’t have a problem raising money. But he may have played it a little too slick in this case. He’s not dealing with funding a startup this is an old school team owner. But I find it interesting that Glen essentially admits he is “partially” doing this because the value has increased so much. By which he means “mainly”.
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Post by quinn on Mar 28, 2024 13:58:44 GMT -6
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Post by XRaySpecs on Mar 28, 2024 14:32:28 GMT -6
Reeeeally interesting. Bowling is super invested in Lore as a businessman, so I actually trust him more than almost anyone on this. It really is starting to sound more like Lo-Rod capitalized on a great opportunity (a crappy deal for Glen) and now Glen, realizing how good the team is and how high its value has skyrocketed, is getting cold feet. It really strikes me as a kid who's taking his ball and going home. I agree on Glen. He's obviously trying to claw back that he made a "bad" deal. Bowling is a huge Lore backer so his take is certainly one sided. With the kind of deal Lore was getting, why let it go this long? Why even give Glen a chance to do something like this? Should have had this finalized a long time ago. If Lore is competent, this really shouldn't require much arbitration. Lore can't be considered "a smart guy" if Glen is able to nullify the deal at this point. Would a great business guy not know the specifics of the deal in terms of what had to be finalized with the league and when? Glen is either making stuff up and Lore wins easily, or Lore dropped the ball big time on not knowing the parameters of the deal.
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Post by quinn on Mar 28, 2024 15:16:41 GMT -6
Reeeeally interesting. Bowling is super invested in Lore as a businessman, so I actually trust him more than almost anyone on this. It really is starting to sound more like Lo-Rod capitalized on a great opportunity (a crappy deal for Glen) and now Glen, realizing how good the team is and how high its value has skyrocketed, is getting cold feet. It really strikes me as a kid who's taking his ball and going home. I agree on Glen. He's obviously trying to claw back that he made a "bad" deal. Bowling is a huge Lore backer so his take is certainly one sided. With the kind of deal Lore was getting, why let it go this long? Why even give Glen a chance to do something like this? Should have had this finalized a long time ago. If Lore is competent, this really shouldn't require much arbitration. Lore can't be considered "a smart guy" if Glen is able to nullify the deal at this point. Would a great business guy not know the specifics of the deal in terms of what had to be finalized with the league and when? Glen is either making stuff up and Lore wins easily, or Lore dropped the ball big time on not knowing the parameters of the deal. If I had to guess as to why nothing got paid early if they had the money, my guess is it comes down to the saying, "Don't give anyone money before you have to." My guess is that with people as rich as Lore is, they have plenty of other interests that will make them money quicker. Like Dan said, he just put $100 mil into Wonder. My guess is he didn't think Glen would try to snake him like this and honor the timeframe of their deal.
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Post by cory on Mar 28, 2024 15:21:45 GMT -6
So we have Woj reporting the ARod/Lore stance. Doogie reporting on the Taylor stance. We need Jon K to give us the real scoop. I see he has missed a little time lately due to some family health. I hope everyone is OK because we need Jonny Athletic on this beat.
Glen looks like a real embarassment from what I am gathering so far. He clearly has not wanted this to go forward for the last 3-4 months and has been trying to undercut the deal however he could by leaking things. Golum needs to go away.
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Post by levine on Mar 28, 2024 15:25:57 GMT -6
So we have Woj reporting the ARod/Lore stance. Doogie reporting on the Taylor stance. We need Jon K to give us the real scoop. I see he has missed a little time lately due to some family health. I hope everyone is OK because we need Jonny Athletic on this beat. Glen looks like a real embarassment from what I am gathering so far. He clearly has not wanted this to go forward for the last 3-4 months and has been trying to undercut the deal however he could by leaking things. Golum needs to go away.
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Post by cory on Mar 28, 2024 15:37:43 GMT -6
So we have Woj reporting the ARod/Lore stance. Doogie reporting on the Taylor stance. We need Jon K to give us the real scoop. I see he has missed a little time lately due to some family health. I hope everyone is OK because we need Jonny Athletic on this beat. Glen looks like a real embarassment from what I am gathering so far. He clearly has not wanted this to go forward for the last 3-4 months and has been trying to undercut the deal however he could by leaking things. Golum needs to go away. Oh I'm waiting for the 10,000 word write up on this. Jon will eventually deliver that if anyone. My speculation is that the other investors have been working Glen over on how much he and they are losing at the current price of sale and that any way to get out of it will be a windfall. It seems like the issue is Lore and ARod have filed paperwork to the league for the approval of the financing but they don't have that completed and reviewed so the money is not in hand. Glen is saying since he doesn't have the money, the deal is off. The language of the agreement will be really interesting as will whoever is the arbitrator. I don't think it's an issue of them not having the cash, just not having the approvals essentially.
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Post by Nick K on Mar 28, 2024 16:32:52 GMT -6
Dan Bowling (who has been on Dane Moore's podcast a few times during all this):“These guys came in and helped me have the best team I’ve ever had. Now I can sell for more so I’m going to do all I can to do that” - what I hear him saying. Whole thing is odd though. They definitely have enough money. Seems to me Glen is trying to get out of his own deal. --------- They can totally afford it. So, from what I know, he’s just trying to back out of his own deal. Either totally legal or totally 🐍- we shall see. Always interesting with Glen. --------- Good news is, they do own 40% and that can’t be disputed. Also, Glen isn’t young and his fam doesn’t want it. They all need to work together so I’m sure they will figure it out. --------- I think they still close the deal. They believe they haven’t missed a deadline and also absolutely have enough money. Lore just put $100M into Wonder. Glen has been on the record at least twice stating things that aren’t true, like when he said they missed the deadline of March 1st, when it’s really end of Q1. Not sure what’s going on, but likely Glen to blame. We shall see though. Reeeeally interesting. Bowling is super invested in Lore as a businessman, so I actually trust him more than almost anyone on this. It really is starting to sound more like Lo-Rod capitalized on a great opportunity (a crappy deal for Glen) and now Glen, realizing how good the team is and how high its value has skyrocketed, is getting cold feet. It really strikes me as a kid who's taking his ball and going home. That's what it looks like to me. Lore is supposed to be worth 4 billion! I doubt it's only about the money.
Glen put it up for sale when the team was horse bleep and he was tired of it. He finally finds buyers that promise to keep the team here. Now the team is winning and Taylor is rejuvenated. Pulling the plug stinks to high heaven here.
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Post by jr on Mar 28, 2024 17:07:20 GMT -6
The equation has to include the fact that when purchased, the franchise was worth what they agreed upon. This uptick in value is due to the decisions and hirings that A-Rod and Lore made. They increased the value, not Glen, and there is no reason to think that its value was already on the rise because of Glen's work. As far as I know/remember, Glen didn't have buyers knocking down the door at the price for which he sold to A-lore. I'd like to hear KG's take on this. He's probably got a lot of bleeps to say.
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Post by levine on Mar 28, 2024 17:17:35 GMT -6
The equation has to include the fact that when purchased, the franchise was worth what they agreed upon. This uptick in value is due to the decisions and hirings that A-Rod and Lore made. They increased the value, not Glen, and there is no reason to think that its value was already on the rise because of Glen's work. As far as I know/remember, Glen didn't have buyers knocking down the door at the price for which he sold to A-lore. I'd like to hear KG's take on this. He's probably got a lot of bleeps to say. There is definitely something to that, but I'm sure they'll also look at the sales of NBA clubs between when the deal started and today and see overall appreciation.
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Post by jojo on Mar 28, 2024 17:24:46 GMT -6
They also said they planned to build a new stadium with private money, which we all no Glen would have no part of.
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Post by levine on Mar 28, 2024 17:29:26 GMT -6
They also said they planned to build a new stadium with private money, which we all no Glen would have no part of. Glen today said he's perfectly happy with Target Center.
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Post by kingsxman on Mar 28, 2024 18:10:57 GMT -6
They might not be out. I can see their side if they really had the money set up with their limited partner and ok'd by the league. Obviously this will go to arbritation. Maybe this is a bad move by Glen. It's tough to tell at this point. I'm sure you're right that this isn't the end. Depending on the valuation currently (I've seen as high as $2.8B projected for the Wolves), it's over billion dollars difference. That's obviously worth fighting over unless there's something behind the scenes that makes it a slam dunk case contractually. Regardless of what happens with the actual ownership, it's 100% a bad move by Glen in the PR department. He's going to come off as greedy and rightly so. Not saying he might not have the right to do what he's doing contractually, but it's 100% self interest. If he really wanted the sale to keep moving forward, he could have. He talked about communication breaking down, but that's a 2 way street. If he didn't want what happened today to happen, he could have just reached out months ago to Lore and let them know what he thought the deal meant in terms of being on target with approvals etc. He didn't do that though. He wanted it to fall apart and so he stayed quiet until he could come out today saying they didn't meet the contract terms. Glen wanted this. Bingo. Its starting to become clear with the statements that Glen is finding loopholes (if not even creating loopholes) to get the team back. He didnt know how to run a team and now he is F'ing "Jealous" of the fact that Lore and ARod turned this thing around so quickly. And by all indications....it WAS Lore and Arod who would essentially put the plan together and Glen would just agree. Glen couldnt stand the fact that they were going to get all the glory that the team was now good. What an old greedy prick.
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Post by kingsxman on Mar 28, 2024 18:12:57 GMT -6
Just wait...this ends with us rooting for Ant in Seattle or Las Vegas. You KNOW this is how it ends. Its Timberwolves.
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Post by kingsxman on Mar 28, 2024 18:21:38 GMT -6
They also said they planned to build a new stadium with private money, which we all no Glen would have no part of. Glen today said he's perfectly happy with Target Center. Guess I'll be keeping my tickets longer than I expected. I fully expected to be dealing with a new arena in 5 years and all the things that go with it: seat license fee's, huge uptick in prices, etc. Was going to price me out. I'm not rich and these arent a write off for a business. I'm just a fan.
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