Another new owner incoming

[kekgeek]

Former NYC Mayor Michael Bloomberg -- ranked one of richest people in the world -- has agreed to join the Marc Lore and Alex Rodriguez group to buy the Minnesota Timberwolves/Lynx, sources tell me and @ShamsCharania.

Story at @TheAthletic:

[WildWolf2813]

This seemed random as hell.

He's definitely a rich man, rich enough to buy this team outright himself if he wanted to. Luckily it seems like he's in it for financial purposes and is gonna be lower on the totem pole than Lore and A-Rod.

He's kind of a flip flopper and I'd rather hear Lore and A-Rod be at the forefront of team related matters and just leave Bloomberg to monitor finances since he excels at that.

If Bloomberg's money is behind you, I don't think this team has to worry about going cheap.

As a New Yorker admittedly I didn't love him as mayor, but history is gonna appreciate him over time, especially compared the ones before and after him.

[Wolvesfan21]

He's a politician so he certainly qualifies as scumbag POS (most are of course). As long as he's not majority owner I suppose it'll be OK. And it's not like Glen was a good guy either. The only positive thing Glen did was keep the team here. Other then that he's been horrible as owner and person. Failure and among the worst owners in all of sports.

[BloopOracle]

I don't know much about his politics, I just remember finding it amusing that he essentially paid his way to the presidential debate stage in 2020 lol. I'm more interested in his pocketbook

[Q-is-here]

He's a moderate democrat, being fairly conservative on economics (business friendly) and education (pro-school choice) and more liberal socially. I'd say the media arm of his business empire somewhat reflects this as well. Hard to find news sources these days that are fairly down the middle - Bloomberg News comes close.

But that's all besides the point. He made his real money with trading terminals and software that financial firms use to this day. Expensive stuff that his namesake company has a chokehold on. As far as I know, it's still privately held with him as the majority owner.

I don't see this news as anything but good. It doesn't sound like he'd needlessly meddle and he's basically a big gun to help buttress the finances of the Lore/Arod group.

[FNG]

This has to be considered good news. The Wolves ownership pockets just got a lot deeper...there won't be too many concerns about lux tax now!

The details will be interesting to learn, if they are ever disclosed. Was Bloomberg always part of the deal, and thus in at the same (low) price as ARod and Lore? Or is he buying a portion of the team for the current, much higher price?

[Lipoli390]

He's a moderate democrat, being fairly conservative on economics (business friendly) and education (pro-school choice) and more liberal socially. I'd say the media arm of his business empire somewhat reflects this as well. Hard to find news sources these days that are fairly down the middle - Bloomberg News comes close.

But that's all besides the point. He made his real money with trading terminals and software that financial firms use to this day. Expensive stuff that his namesake company has a chokehold on. As far as I know, it's still privately held with him as the majority owner.

I don't see this news as anything but good. It doesn't sound like he'd needlessly meddle and he's basically a big gun to help buttress the finances of the Lore/Arod group.

I agree. This is terrific news.

[AbeVigodaLive]

He's a moderate democrat, being fairly conservative on economics (business friendly) and education (pro-school choice) and more liberal socially. I'd say the media arm of his business empire somewhat reflects this as well. Hard to find news sources these days that are fairly down the middle - Bloomberg News comes close.

But that's all besides the point. He made his real money with trading terminals and software that financial firms use to this day. Expensive stuff that his namesake company has a chokehold on. As far as I know, it's still privately held with him as the majority owner.

I don't see this news as anything but good. It doesn't sound like he'd needlessly meddle and he's basically a big gun to help buttress the finances of the Lore/Arod group.

Ha. I remember reading Bloomberg News for a spell back when I was looking for a more moderate, even-handed news source.

Apparently, I didn't think much of the site... I'd forgotten all about it until your post.

[Carlos Danger]

I take this news as Lore/Arod securing more $ to complete the deal. As I understood the kerfuffle, it was all about making timely payments. Taylor saw an opportunity to make more money on the deal by trying to cancel it based on Lore/Arod not meeting a deadline. I guess that will be for the courts/arbitration to decide. But they should have enough money now if it is determined the sale is still in contract. IF Taylor somehow retains ownership - I'm not sure I can stay a fan. Maybe Bloomberg can pay Glen what he wants to just get the F#ck out of the way.

[FNG]

He's a moderate democrat, being fairly conservative on economics (business friendly) and education (pro-school choice) and more liberal socially. I'd say the media arm of his business empire somewhat reflects this as well. Hard to find news sources these days that are fairly down the middle - Bloomberg News comes close.

But that's all besides the point. He made his real money with trading terminals and software that financial firms use to this day. Expensive stuff that his namesake company has a chokehold on. As far as I know, it's still privately held with him as the majority owner.

I don't see this news as anything but good. It doesn't sound like he'd needlessly meddle and he's basically a big gun to help buttress the finances of the Lore/Arod group.

Very much a moderate, Q. He actually was elected mayor of NYC (twice I think) as a Republican, but then ran for president as a Democrat in 2000. He's a smart guy, so I thought he would be an effective candidate...but his one debate was a disaster! He was a little naive in thinking the many skeletons in his closet wouldn't come up in a debate.

Anyway, none of that has any implications here. He's on board merely to make the financial situation a little easier.