Its never easy with Glen, sale could be voided

[kekgeek]

BREAKING: Meyer Orbach, the second largest shareholder in the Minnesota Timberwolves, filed a complaint in U.S. District Court in Minneapolis alleging owner Glen Taylor's pending sale to Lore-Rodriguez is in violation of franchise's partnership agreement: https://t.co/NlM0Cd324s

[kekgeek]

The complaint filed by Orbach includes a significant revelation: Despite Taylor's public statements to the contrary, there's no provision in the $1.5B sales agreement with Marc Lore and Alex Rodriguez that requires the new ownership group to keep the franchise in Minnesota.

[WildWolf2813]

He shouldn't own a goldfish, let alone a team.

[kekgeek]

This story on the sale of the Timberwolves includes reporting from ?@wojespn? and ?@WindhorstESPN? that...

"Essentially, there are no contractual limitations to keep Lore and Rodriguez from moving the Timberwolves to a new city." https://t.co/GsrKDGXLS5

[bleedspeed]

As long as we have the United nobody will notice.

[Monster]

Thanks for posting.

I'm not worried I fully expect the sale is going to go through in some way shape or form. I'm also not particularly worried about the team moving either. If I remember right Lip isn't a fan of Orbach I'm not sure he said why but I remember Lip feeling less than positive about him. This sale does seem to be kinda complicated and I'm not sure why. Maybe this is more typical than I have been aware of before.

[Lipoli390]

I don't recall commenting on Orbach. I don't know anything about him other than the fact he's a New Jersey/New York real estate mogul. That's probably reason enough to dislike him. I have a lot more respect for wealthy people who acquired their wealth by building a real business.

More importantly, I'm not worried about the sale being voided. Orbach probably has a good case against Glen, but Orbach doesn't care whether the sale goes through. He just wants some money out of it. He'll claim that he could have made more money selling his minority stake before Glen sold the team than he can after the sale. So he'll claim money damages that reflect the difference. He and Glen will probably settle because Orbach just wants money and probably doesn't want to pay legal fees for a full trial. Again, Orbach is a real New York real estate owner. He sees a money-making opportunity without having to invent or create anything and he's going to take it. Simple as that.

I'm disappointed that Glen didn't include a clause to keep the team here. But I've always thought the best assurance the team stays here is the NBA's preference to collect franchise fees for new teams in the two viable locations, Seattle and Vegas. So I'm not too worried about it.

This whole thing is so Glen Taylor. He could have worked this out in advance with Orbach. And he could have included a stay-in-Minnesota clause. Anyway, it will be good to move on from Glen.

[Coolbreeze44]

Excellent speculation Lip. I don't believe there isn't a stay in Minnesota agreement of some type.

[thedoper]

I dont think it should be any sort of revelation now that Taylor sucks. If a new owner moves so be it.

[Monster]

I don't recall commenting on Orbach. I don't know anything about him other than the fact he's a New Jersey/New York real estate mogul. That's probably reason enough to dislike him. I have a lot more respect for wealthy people who acquired their wealth by building a real business.

More importantly, I'm not worried about the sale being voided. Orbach probably has a good case against Glen, but Orbach doesn't care whether the sale goes through. He just wants some money out of it. He'll claim that he could have made more money selling his minority stake before Glen sold the team than he can after the sale. So he'll claim money damages that reflect the difference. He and Glen will probably settle because Orbach just wants money and probably doesn't want to pay legal fees for a full trial. Again, Orbach is a real New York real estate owner. He sees a money-making opportunity without having to invent or create anything and he's going to take it. Simple as that.

I'm disappointed that Glen didn't include a clause to keep the team here. But I've always thought the best assurance the team stays here is the NBA's preference to collect franchise fees for new teams in the two viable locations, Seattle and Vegas. So I'm not too worried about it.

This whole thing is so Glen Taylor. He could have worked this out in advance with Orbach. And he could have included a stay-in-Minnesota clause. Anyway, it will be good to move on from Glen.

Lip I think whatever you said about Orbach was out of me mentioning Wolfson saying something about Orbach being a possible owner in the future. You said something about how you really doubted it but something else you said or the way you said it gave me an impression you didn't view him favorably. I apologize if it made it sound like I put words in your mouth.

Glen certainly doesn't have the benefit of the doubt but what your wrote and reading the article makes it sound like Orbach is just finding an opportunity to make more money. I know it's more complicated than this but it sounds like people with money fighting over money. Lets get back to figuring out how to trade players on the roster based on their salaries...ugh. Lol

As for whatever stuff is or isn't in the sale to keep the team here...quite frankly I'll somewhat hesitantly trust what Glen says about the teams staying here and any language about it over Orbach. The reality is based on the info we have now the team is going nowhere like Glen said and it's been reported the league is looking to expand and make MORE money that way so they aren't going to approve a move. Orbach is looking for any way he can discredit Glen at this point. It's been reported in a few different ways that Glen can't really do anything really significant to keep the Wolves in MN so this news shouldn't really shock anyone that's been paying attention. It sounds to me like Glen put SOMETHING in the contract even if it wasn't very binding. Was that misleading? Probably but Glen also wasn't likely looking to be like saying publicly to everyone initially like "hey I know the league is expanding (even though that hasn't been officially announced) and the team is going no where so don't worry Minnesotans!" So he just said he would put some language in there and make it sound good (probably makes him think he looks good). Even if Glenn COULD have done something reasonably significant...this is big business...they could have shook hands on it, ate some of Becky's lasagna together, signed a contract in blood, broke a medallion in 3 pieces and each kept one for all time, sacrificed a goat, spent 4 hours together in a steam room, each adopted a cute little rescue animal from the same litter together and...whatever amount of time down the road if it benefited ARod and Lore enough they could get out of it. I mean maybe those guys are men of their word but I wouldn't count on it in general.