I think this got lost in the chaos of today. Not that Lore/ARod were guaranteed to do it either, but I think this likely signals the end of this roster after this season. Let’s enjoy it while we can.
Full excerpt:
Of course, maintaining majority ownership means the questions that Lore and Rodriguez were set to face — such as how deep to allow the front office to go into the luxury tax, which comes with a massive financial bill, to keep the current core of players together, and the potential for a new arena — now fall on Taylor’s desk.
“I think we’ll have the challenge of keeping this team together, because we have a lot of really good, high-paid players, and that’s going to be a challenge,” Taylor said. “I think the arena is a long-term, big plan, and you’d have to get people on it. So I still have all the same … opportunities you look at either way in the future, and I’ve always been willing to take on the opportunities.”
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glen taylor would rather spend more money on chicken farms than on the timberwolves
Even if Lore/ARod do end up completing the purchase somehow (and were committed/able to pay the tax), the litigations to get there are going to take a long time—Glens going to be at the helm this offseason no matter what.
I don’t know why people are assuming Glen won’t pay the tax. If anything he’s more likely to pay the tax then two guys who don’t even have enough money to buy the team
I trust Taylor to go into the luxury tax way more than Payment Plan LorRod 😂😂😂 I’m on team Glen.
Hey Glen it’s the best season you’ve had since 04… Shut the fuck up. Why would you possibly talk about the tax or breaking the team up. You greedy weasel shut up before you ruin this whole thing.
Anyone that buys the chicken shit Glennn and his puppet Doogie are spitting deserves whatever comes to them. 30 years of him proving to you he’s an inept piece of shit yet y’all think he’s suddenly gonna pay extra to win? FUCK NO, this greedy old fuck saw his sale price look like chump change after the new guys rehabbed this moribund franchise in one summer, now Glen wants to keep his chicken clawed old man hands on the prize and act like they good b/c of him??
Forever fuck Glen Taylor, the most inept piece of shit owner this city has ever seen, and yes I’m including Norm Green in that comp.
To be maybe unduly optimistic, there’s a difference between going into the tax and ducking the tax. If Taylor wants to get below the line, they need to trade either KAT or Jaden into cap space, both which feel wildly unlikely, where both are obviously kneecapping a championship caliber team.
I honestly am on the pessimistic side for Lore/A-rod too. I mean they aren’t worth a billion between them. They were the faces for investment companies. And apparently that was so tenuous that with a team who’s value probably had doubled in the past few years, they struggled to get the funding at a very good price point.
That’s worrisome. Seriously were unable to secure 600 million for a 40% stake in a team valued at 3 billion now (aka a 1.2 billion dollar stake). Somehow they couldn’t get that in time to force the deal through. It was simple, get the check to Glen by the between January 1 and March 27.
I get the “anything new has to be better”, and this is in no way defending Glen as owner but sometimes that grass isn’t greener on the other side.
That said purely from the financial piece what Glen is doing IF that is a missed payment is what anyone would do as much as it sucks to see as a fan. 60% of the team he can sell a controlling stake in for about a billion more than the deal he had with A-Rod and Lore. If they back out of it by not paying in time…
Let’s say you have a Michael Jordan card. You bought it 20 years ago for $500. Right now they are going for $4,000. You put it on Ebay. And someone buys it for $4k. They have 4 calendar days to complete the payment. And on day 2 Jordan passes away. Day 3 you see Jordan rookie cards selling for 1 billion dollars. Day 4 your buyer hasn’t paid. Do you give them a week extension out of the goodness of your heart? Or do you say sorry, your payment wasn’t made, and repost your card to sell for a billion dollars?
I’m not giving away a billion bucks. Just me. I’ve never had that money, don’t know at all what it would be like, but I’m not giving away a billion dollars unless I absolutely have to.
And A-rod and Lore have to have known this. They have to had known at all costs, close this deal between Jan 1 and March 27th. And that kinda has me wondering about that grass being greener. Talk about the worst financial decision that could be made. Here you are as those two. And you have a deal which nets 600 million dollars as soon as it’s signed. And they can’t get someone to sign on? How messed up of a start is that?
Hopefully either things will work out, or more info will come out that A-rod and Lore aren’t just absolutely incompetent. But right now, that seems to be a possible case.
For the roster, that luxury tax is brutal. I’m not sure NY/Hong Kong investment companies care about winning in Minneapolis. Take a look at OKC or Milwaukee or SA. Small market/revenue teams winning a lot for a stint doesn’t really translate to a ton of added revenue. So, adding 150+ mil in salary/tax next year mostly means instead of 40 mil profit they are looking at 100 mil in losses. For a company whose goal isn’t putting up banners, but increasing their profits to bump their stock based on their investments all over the world, I’m not sure keeping the Wolves together is their choice they would like. And if they tell Connely the Wolves must keep team costs under X dollars… well cutting salary is really his only option there.
They challenge is you figuring out how to pay the luxury tax after you do the right thing… we got something here Glen dont f us.
No, it’s not a challenge. You’re a f*king mutilbillionaire whose team has doubled in value.