davemang wrote: ↑Sun Mar 31, 2024 12:31 pm
This will be really interesting going into the offseason if they’re still duking it out. Wolves looking at going 25-50m into the tax next year when in their history they’ve gone 25m into the tax total. In theory with minority owners, that tax burden is shared right? Who does TC have to take direction from? If they’re in a legal battle, who gets to make the decisions and who pays the tax?
Very relevant questions, Dave. I think that as long as Glen remains as majority owner, he calls the shots. TC has to listen to him, because the majority owner has the power to fire him. And you are correct...all of the minority owners and limited partners share in the lux tax. I know that certain limited partners have opted to be bought out by Glen in the past rather than participating in the tax.
I note that Glen and Becky were at the game yesterday. Does anyone know if they were booed at times during the game? I'm disappointed if a group of fans didn't at least start a chant...something like "complete the sale!". Minnesota Nice, I guess.
On the Dane Moore podcast, Lore/ARod said Glen has banned them from coming to games! We should note the Wolves are now 0-1 in games in which Glen has banned them from attending.
Connelly boss is Glen Taylor. I would not be shocked if Connelly leaves this offseason. He almost left last offseason if you remember. Connelly was brought in by Lore/Arod, I would be a little surprised if he stayed if Glen still has the team by this time next year.
Also heard that there was no noticeable boos or chants at Glen
Seems like it would be hard to organize a chant or boo-fest of a person that isn't introduced or on the field of play. Plus you may have a lot of long-time season ticket holders that stick strictly to traditional media sources and may view ARod and Lore with suspicion as interlopers ("Glen's a loser, but he's OUR loser!"). And lastly, there were probably a lot of casual fans there that only have a fuzzy idea of what is going on.
Not that it matters since the final decision always rests with the owner, but doesn't Tim Connelly technically report to Ethan Casson, the CEO of the Wolves or do most owners truly have a dual reporting structure of business ops and basketball ops? I figured those two roles split out under the CEO and not the owner.
Really interesting article by Jim Souhan in todays StarTrib about this situation. He likens all the sycophants (including Jim Pete, Finchie, and some of the players) coming over to greet/hug the Taylors before the game started to the final scene in Godfather I...where everyone shows up to kiss Pacino's ring after his competition had been eliminated. Funny, but also very telling.
Taylor is Souhan's employer, so we have to take Jim's comments with a grain of salt. But he postulates that Glen staying on as majority owner could be the best result. While Lore and ARod are not a known commodity in terms of their loyalty to Minnesota, Glen is not...he stepped up to keep the Wolves in the state, and also saved the StarTrib when it was going down. As long as the Taylor family is making the decisions (and Becky is only 66 and a superfan, as are many of the kids and grandkids). we can feel confident the Wolves are not leaving.
Further, as I've mentioned before, Lore/Arod will still be 40% owners. And having 2 billionaires plus the well-healed ARod in the ownership group (as well as other limited partners) leads to a bundle of cash available to pay any luxury tax that might pop up.
Who knows what is going to happen here, but Souhan's article made me feel a little bit better.
Q-is-here wrote: ↑Mon Apr 01, 2024 11:12 am
Seems like it would be hard to organize a chant or boo-fest of a person that isn't introduced or on the field of play.
This was pretty funny when I read it Remember the old Peyton Manning commercials where he's trying to get a chant going at random people just doing their jobs? Hilarious!
FNG wrote: ↑Tue Apr 02, 2024 1:30 pm
Really interesting article by Jim Souhan in todays StarTrib about this situation. He likens all the sycophants (including Jim Pete, Finchie, and some of the players) coming over to greet/hug the Taylors before the game started to the final scene in Godfather I...where everyone shows up to kiss Pacino's ring after his competition had been eliminated. Funny, but also very telling.
Taylor is Souhan's employer, so we have to take Jim's comments with a grain of salt. But he postulates that Glen staying on as majority owner could be the best result. While Lore and ARod are not a known commodity in terms of their loyalty to Minnesota, Glen is not...he stepped up to keep the Wolves in the state, and also saved the StarTrib when it was going down. As long as the Taylor family is making the decisions (and Becky is only 66 and a superfan, as are many of the kids and grandkids). we can feel confident the Wolves are not leaving.
Further, as I've mentioned before, Lore/Arod will still be 40% owners. And having 2 billionaires plus the well-healed ARod in the ownership group (as well as other limited partners) leads to a bundle of cash available to pay any luxury tax that might pop up.
Who knows what is going to happen here, but Souhan's article made me feel a little bit better.
Does anyone know about how much the team makes every year after expenses? The thing is, the more you spend the more revenue you should take in (assuming you are good and sell more seats, merch,etc). Then you have playoff games, more merch, etc... Making an extra "whatever million" by making a playoff run can offset the lux tax expense. Maybe become even more profitable. I'm just spitballing here since I have no data. But the point is they likely don't take money from their own pockets in the end. More money invested can equal a greater return even.
It is a bit of a gamble though. If the team does poorly, your star player/s get hurt. You just lose out in the end.
FNG wrote: ↑Tue Apr 02, 2024 1:30 pm
Really interesting article by Jim Souhan in todays StarTrib about this situation. He likens all the sycophants (including Jim Pete, Finchie, and some of the players) coming over to greet/hug the Taylors before the game started to the final scene in Godfather I...where everyone shows up to kiss Pacino's ring after his competition had been eliminated. Funny, but also very telling.
Taylor is Souhan's employer, so we have to take Jim's comments with a grain of salt. But he postulates that Glen staying on as majority owner could be the best result. While Lore and ARod are not a known commodity in terms of their loyalty to Minnesota, Glen is not...he stepped up to keep the Wolves in the state, and also saved the StarTrib when it was going down. As long as the Taylor family is making the decisions (and Becky is only 66 and a superfan, as are many of the kids and grandkids). we can feel confident the Wolves are not leaving.
Further, as I've mentioned before, Lore/Arod will still be 40% owners. And having 2 billionaires plus the well-healed ARod in the ownership group (as well as other limited partners) leads to a bundle of cash available to pay any luxury tax that might pop up.
Who knows what is going to happen here, but Souhan's article made me feel a little bit better.
IDK...I'm sure a lot of those folks giving Taylor hugs have known him and Becky personally and they probably have warm relationships. That doesn't make him a good owner or guileless businessman.
FNG wrote: ↑Tue Apr 02, 2024 1:30 pm
Really interesting article by Jim Souhan in todays StarTrib about this situation. He likens all the sycophants (including Jim Pete, Finchie, and some of the players) coming over to greet/hug the Taylors before the game started to the final scene in Godfather I...where everyone shows up to kiss Pacino's ring after his competition had been eliminated. Funny, but also very telling.
Taylor is Souhan's employer, so we have to take Jim's comments with a grain of salt. But he postulates that Glen staying on as majority owner could be the best result. While Lore and ARod are not a known commodity in terms of their loyalty to Minnesota, Glen is not...he stepped up to keep the Wolves in the state, and also saved the StarTrib when it was going down. As long as the Taylor family is making the decisions (and Becky is only 66 and a superfan, as are many of the kids and grandkids). we can feel confident the Wolves are not leaving.
Further, as I've mentioned before, Lore/Arod will still be 40% owners. And having 2 billionaires plus the well-healed ARod in the ownership group (as well as other limited partners) leads to a bundle of cash available to pay any luxury tax that might pop up.
Who knows what is going to happen here, but Souhan's article made me feel a little bit better.
To the bolded:
Glen is 82. The family by all accounts, doesn't want the team after Glen dies (otherwise, why even entertain any seller). Glen's appetite for moving the team is 0.0%. Even if the next owner's desire is 0.1%, the odds still go up. I remember Mackey and Judd saying when this all started that they'd be fine risking the team being relocated as long as Glen sold the team because Glen was that bad. Now they're paranoid about whether the team's gonna move. If they move one day, they move, but as of now it feels like Glen (and some fans) are waiting for a much younger owner with really deep pockets who happens to be from the state and not only wants to keep the Wolves in Minneapolis but dammit, he's gonna spend a huge chunk towards a new arena. That group likely doesn't exist. Basically we're looking for our answer to Ryan Smith (Utah's owner). If that person was around, the team woulda been sold by now.
Remember the old Peyton Manning commercials where he's trying to get a chant going at random people just doing their jobs? Hilarious!
