Its never easy with Glen, sale could be voided

[kekgeek]

Sources: Glen Taylor has responded to Meyer Orbach's lawsuit claiming the right to liquidate his $300M stake in ownership of the Minnesota Timberwolves

Part of Taylor's response is that "there may never be a sale" -- and that Rodriguez and Lore merely have an option to purchase https://t.co/tCDcErt38s

[kekgeek]

If Orbach's claim is held up by the court, all minority owners -- there are 11 ownership parties -- will have the right to liquidate their shares, likely forcing a new ownership agreement to agreed upon between Taylor and Rodriguez and Lore. Could be a significant roadblock.

[Monster]

I really don't know enough about this stuff but I'm going to take a stab at it while asking some questions too.

1. How much of the Wolves and Lynx are Lore and ARod planning to buy? Are they only planning to by Glen's shares or everything?

I'll assume that one way or another Orbach wants to sell his shares. He wants to sell them now because in theory I suppose the value of them is now locked in for 2 years. His money can't increase in value if the sale goes up. So he wants to cash in on the 1.5 billion valuation now which probably is smart IF he actually plans to sell. It's possible in 2 years of the Wolves somehow become good and start bringing in cash (and new TV deals are signed) the franchise could be worth closer to 2 billion. Let's say Orbach wanted to cash out and just took his money somewhere and got like 3% interest for 2 years. That's what close to 20 million?

The problem is that it doesn't look like a sale has been completed especially one that would mean someone else is a controlling interest.

Another question...let's say Lore and Arod where planning to buy everyone out after 2 years. Who is going to want to buy in for a few months only to sell their shares off? Like I said above there is a chance the franchise increases in value but if the price is locked in...there is no benefit.

2. Is the 1.5 billion price locked in or is that based on some sort of estimate? I could see someone complain about having to sell their shares at a locked in price 2 years from now.

Ultimately I really doubt this puts the sale in jeopardy but I suppose it's possible. I think the NBA might have an interesting whether this sale goes through so they could help things a lot if they like the Lore Arod group. It's also possible Arod and Lore find a way to end up with enough money (liquidating assets) to make some of the sale problems less of a problem.

[AbeVigodaLive]

I guess all this distracts us a bit from Glen Taylor either (1) lying to us. (2) being a dim-witted rub again by taking somebody for their word, similar to the ridiculous Andrew Wiggins "try harder" nonsense.

[thedoper]

I guess all this distracts us a bit from Glen Taylor either (1) lying to us. (2) being a dim-witted rub again by taking somebody for their word, similar to the ridiculous Andrew Wiggins "try harder" nonsense.

I'll take both. He definitely lied publicly. He was quoted multiple times saying there would there would be a clause in the deal to keep the team in Minnesota. The dim-witted rub evidence seems insurmountable. I wonder if or why it still works as a distraction for anyone. Glen is the worst.

[AbeVigodaLive]

I guess all this distracts us a bit from Glen Taylor either (1) lying to us. (2) being a dim-witted rub again by taking somebody for their word, similar to the ridiculous Andrew Wiggins "try harder" nonsense.

I'll take both. He definitely lied publicly. He was quoted multiple times saying there would there would be a clause in the deal to keep the team in Minnesota. The dim-witted rub evidence seems insurmountable. I wonder if or why it still works as a distraction for anyone. Glen is the worst.

The rub is that I'm the rube for forgetting the "e"... dammit.

[thedoper]

I guess all this distracts us a bit from Glen Taylor either (1) lying to us. (2) being a dim-witted rub again by taking somebody for their word, similar to the ridiculous Andrew Wiggins "try harder" nonsense.

I'll take both. He definitely lied publicly. He was quoted multiple times saying there would there would be a clause in the deal to keep the team in Minnesota. The dim-witted rub evidence seems insurmountable. I wonder if or why it still works as a distraction for anyone. Glen is the worst.

The rub is that I'm the rube for forgetting the "e"... dammit.

You're a pragmatic rube at least Abe.

[Monster]

Glen won against Orbach in what sounds like a pretty easy decision by the judge. The sale will continue as planned.