ARod maybe, but Lore is a multibillionaire like Glen, and he's well connected too so I doubt he'd have any problem rounding up the funds. Given Glen's age and ARod's competitiveness, I think they are fine with at least a year under the second apron if they feel the team is a contender. They are also smart businessman who I'm sure know that team success will help build franchise value. I'm sure before they signed off on the Rudy deal, they expected KAT and Rudy tandem to be a several year endeavor. I know some feel a KAT or Rudy trade is inevitable, but I am not one of them.
Yeah, Lore has a reported net worth of $4 Billion, which eclipses Taylor's $2.9 Billion. He also appears to be much more of a riverboat gambler than Glen, so I think he will be both more willing and more able to dig into his pockets to pay a very punitive lux tax...IF he thinks he has a team that can win a championship. ARod is also a very wealthy man at $450 million, but my guess is he will not be as willing to cough up for the lux tax. They may have to come up with a creative approach...perhaps one where Lore covers the lux tax in exchange for increasing his percentage of ownership.
I am just saying Doogie (who is an idiot) was reporting that they are really struggling to get the funds and they are not on track for the deadline in December (an extension could be given). Then Kyle Tiege said yesterday that be has been hearing whispers of the same thing. Now this is not Jon K or Dane Moore reporting these things so I’m not in a panic but it is something to monitor
How is Doogie an idiot? And if so, why are you using him as a source to make your point? By the way, I think Doogie is great. He is one of the most fan friendly beat writers covering the Wolves. I can ask him questions about the Wolves and he responds quickly. I've done it many times over the years. Terrific Guy!
But back to the topic you raised. Lore is listed at having $4.1 billion and he's a guy that has raised a lot of money in ventures. Taylor is a multibillionaire. ARod doesn't compare to the other two guys in terms of wealth, but he has money and connections. The Wolves ownership group can afford to pay out millions in luxury tax if they think it will give them a greater chance to field a title contender. Do you really think TC made the Gobert trade without the ownership's blessings and the ability to see it through even if it costs the owners luxury tax dollars?
Yeah, Lore has a reported net worth of $4 Billion, which eclipses Taylor's $2.9 Billion. He also appears to be much more of a riverboat gambler than Glen, so I think he will be both more willing and more able to dig into his pockets to pay a very punitive lux tax...IF he thinks he has a team that can win a championship. ARod is also a very wealthy man at $450 million, but my guess is he will not be as willing to cough up for the lux tax. They may have to come up with a creative approach...perhaps one where Lore covers the lux tax in exchange for increasing his percentage of ownership.
I am just saying Doogie (who is an idiot) was reporting that they are really struggling to get the funds and they are not on track for the deadline in December (an extension could be given). Then Kyle Tiege said yesterday that be has been hearing whispers of the same thing. Now this is not Jon K or Dane Moore reporting these things so I’m not in a panic but it is something to monitor
How is Doogie an idiot? And if so, why are you using him as a source to make your point? By the way, I think Doogie is great. He is one of the most fan friendly beat writers covering the Wolves. I can ask him questions about the Wolves and he responds quickly. I've done it many times over the years. Terrific Guy!
But back to the topic you raised. Lore is listed at having $4.1 billion and he's a guy that has raised a lot of money in ventures. Taylor is a multibillionaire. ARod doesn't compare to the other two guys in terms of wealth, but he has money and connections. The Wolves ownership group can afford to pay out millions in luxury tax if they think it will give them a greater chance to field a title contender. Do you really think TC made the Gobert trade without the ownership's blessings and the ability to see it through even if it costs the owners luxury tax dollars?
I am no expert on high finance, but there is net worth and then there is the liquidity of that net worth and how accessing funds affects the person's overall investment portfolio, tax implications, etc. Now perhaps he could borrow against illiquid assets, but the interest rate landscape has changed since A-Rod and Lore made their first payment.
I have no idea what is happening, but you can't just look at net worth alone.
I am just saying Doogie (who is an idiot) was reporting that they are really struggling to get the funds and they are not on track for the deadline in December (an extension could be given). Then Kyle Tiege said yesterday that be has been hearing whispers of the same thing. Now this is not Jon K or Dane Moore reporting these things so I’m not in a panic but it is something to monitor
How is Doogie an idiot? And if so, why are you using him as a source to make your point? By the way, I think Doogie is great. He is one of the most fan friendly beat writers covering the Wolves. I can ask him questions about the Wolves and he responds quickly. I've done it many times over the years. Terrific Guy!
But back to the topic you raised. Lore is listed at having $4.1 billion and he's a guy that has raised a lot of money in ventures. Taylor is a multibillionaire. ARod doesn't compare to the other two guys in terms of wealth, but he has money and connections. The Wolves ownership group can afford to pay out millions in luxury tax if they think it will give them a greater chance to field a title contender. Do you really think TC made the Gobert trade without the ownership's blessings and the ability to see it through even if it costs the owners luxury tax dollars?
I am no expert on high finance, but there is net worth and then there is the liquidity of that net worth and how accessing funds affects the person's overall investment portfolio, tax implications, etc. Now perhaps he could borrow against illiquid assets, but the interest rate landscape has changed since A-Rod and Lore made their first payment.
I have no idea what is happening, but you can't just look at net worth alone.
Excellent point, Q. It's unlikely that anyone, even someone with a net worth of $4.1 billion, has the liquid funds to pay for a franchise. Most likely Lore and ARod were looking at financing options when they entered into their memo of understanding with Glen, and the underlying interest rates have changed significantly in the past two years. Also, Lore invested a lot of money in his food delivery startup Wonder Group, and I don't know how that is doing. If that ends up being a failed venture, his ability to complete the Wolves buyout may be jeopardized.
How is Doogie an idiot? And if so, why are you using him as a source to make your point? By the way, I think Doogie is great. He is one of the most fan friendly beat writers covering the Wolves. I can ask him questions about the Wolves and he responds quickly. I've done it many times over the years. Terrific Guy!
But back to the topic you raised. Lore is listed at having $4.1 billion and he's a guy that has raised a lot of money in ventures. Taylor is a multibillionaire. ARod doesn't compare to the other two guys in terms of wealth, but he has money and connections. The Wolves ownership group can afford to pay out millions in luxury tax if they think it will give them a greater chance to field a title contender. Do you really think TC made the Gobert trade without the ownership's blessings and the ability to see it through even if it costs the owners luxury tax dollars?
I am no expert on high finance, but there is net worth and then there is the liquidity of that net worth and how accessing funds affects the person's overall investment portfolio, tax implications, etc. Now perhaps he could borrow against illiquid assets, but the interest rate landscape has changed since A-Rod and Lore made their first payment.
I have no idea what is happening, but you can't just look at net worth alone.
Excellent point, Q. It's unlikely that anyone, even someone with a net worth of $4.1 billion, has the liquid funds to pay for a franchise. Most likely Lore and ARod were looking at financing options when they entered into their memo of understanding with Glen, and the underlying interest rates have changed significantly in the past two years. Also, Lore invested a lot of money in his food delivery startup Wonder Group, and I don't know how that is doing. If that ends up being a failed venture, his ability to complete the Wolves buyout may be jeopardized.
I shouldn’t have used idiot when talking about Doogie because like you said he is super fan friendly. He is just wrong a lot and I think he just spews everything he hears. That is why I didn’t post it when he mentioned the sale could be in jeopardy a week ago. Then Kyle Tiege mentioned he has heard similar whispers yesterday so I give it a little miss weight on what Doogie reported. Who knows with Arod and Lore but I think it’s safe to say that it hasn’t been a smooth transition to ownership from a financial standpoint. So I think it is fair to ask how willing are the new owners going to be to spend in lux tax. Obviously I hope they have 0 issues with it but I do think it’s a fair point to bring up
I am just saying Doogie (who is an idiot) was reporting that they are really struggling to get the funds and they are not on track for the deadline in December (an extension could be given). Then Kyle Tiege said yesterday that be has been hearing whispers of the same thing. Now this is not Jon K or Dane Moore reporting these things so I’m not in a panic but it is something to monitor
How is Doogie an idiot? And if so, why are you using him as a source to make your point? By the way, I think Doogie is great. He is one of the most fan friendly beat writers covering the Wolves. I can ask him questions about the Wolves and he responds quickly. I've done it many times over the years. Terrific Guy!
But back to the topic you raised. Lore is listed at having $4.1 billion and he's a guy that has raised a lot of money in ventures. Taylor is a multibillionaire. ARod doesn't compare to the other two guys in terms of wealth, but he has money and connections. The Wolves ownership group can afford to pay out millions in luxury tax if they think it will give them a greater chance to field a title contender. Do you really think TC made the Gobert trade without the ownership's blessings and the ability to see it through even if it costs the owners luxury tax dollars?
I am no expert on high finance, but there is net worth and then there is the liquidity of that net worth and how accessing funds affects the person's overall investment portfolio, tax implications, etc. Now perhaps he could borrow against illiquid assets, but the interest rate landscape has changed since A-Rod and Lore made their first payment.
I have no idea what is happening, but you can't just look at net worth alone.
Absolutely true, Q. Liquidity does matter. But to me, liquidity might affect timing arrangements for payments and as long as Glen and Lore are looking for a smooth transfer at a price agreeable to both, they will work things out. But I also know that Marc Lore is a savvy businessman who is connected to venture capital and has the ability to raise money if the value justifies it. But the question really was is the ownership group willing to pay luxury tax under the second apron to support a team they believe is a title contender. I absolutely believe that to be the case and whether Taylor or Lore is the majority owner at the time a decision is made to roster a team that goes over the second apron, I still think the ownership group as it exists then will opt to do it. As I pointed out in another post, it might just be a one year second apron roster as they could restructure Rudy's contract as early as the 2025-26 season.
I am no expert on high finance, but there is net worth and then there is the liquidity of that net worth and how accessing funds affects the person's overall investment portfolio, tax implications, etc. Now perhaps he could borrow against illiquid assets, but the interest rate landscape has changed since A-Rod and Lore made their first payment.
I have no idea what is happening, but you can't just look at net worth alone.
Excellent point, Q. It's unlikely that anyone, even someone with a net worth of $4.1 billion, has the liquid funds to pay for a franchise. Most likely Lore and ARod were looking at financing options when they entered into their memo of understanding with Glen, and the underlying interest rates have changed significantly in the past two years. Also, Lore invested a lot of money in his food delivery startup Wonder Group, and I don't know how that is doing. If that ends up being a failed venture, his ability to complete the Wolves buyout may be jeopardized.
I shouldn’t have used idiot when talking about Doogie because like you said he is super fan friendly. He is just wrong a lot and I think he just spews everything he hears. That is why I didn’t post it when he mentioned the sale could be in jeopardy a week ago. Then Kyle Tiege mentioned he has heard similar whispers yesterday so I give it a little miss weight on what Doogie reported. Who knows with Arod and Lore but I think it’s safe to say that it hasn’t been a smooth transition to ownership from a financial standpoint. So I think it is fair to ask how willing are the new owners going to be to spend in lux tax. Obviously I hope they have 0 issues with it but I do think it’s a fair point to bring up
I see it the same way you do, Kek. Doogie has a history of inaccurate “reporting” but when someone like Kyle echoes the same rumor it can’t be summarily dismissed and it’s worth tracking. It still think the decision to exceed the 2nd apron will turn more on the related transactional limitations than the overall wealth of ownership. However, ownership wealth and the liquidity of their assets are additional considerations. I doubt any owner WANTs to spend money on additional penalties/taxes unless absolutely necessary. Owners with less to spend will be less willing to pay those penalties. And then there are the enormous transactional limitations that flow from exceeding the second apron. All those things combined tell me there is a very narrow set of circumstances under which the Wolves ownership will be willing to exceed the second apron. That’s why I continue to believe it’s more likely than not that the Wolves trade Rudy, KAT, Naz or Jaden before next July 1.
The Wolves can literally return the same rotation for the 2024-25 season if they want. They can sign Conley and Kyle in free agency, hopefully Conley at a reasonable price. I see the Second Apron as nothing more than a hefty tax bill with a few limitations that most smart teams can work around. Glen is 82 and I'm sure would like to see the Wolves win a championship before he dies. As, they say you can't take it with you. I don't want to trade any of our top nine rotation guys and I don't think we'll have to.
I’m going to worry about the second apron next spring when the Wolves are hanging their first WCF banner! Or when they fail to make the play-in. Or something in between, lol.
