Another new owner incoming

[Q-is-here]

A couple things from all the reading and podcasts I have listened to on the situation. (Lip has actually covered a lot of this)

- Adding Bloomberg means nothing when it comes to arbitration with Glen. The A Rod/Lore camp now having more money does not effect the situation at all when it comes to arbitatiration. It comes down to did A Rod/Lore break the contract in any way and that is what will be decided on.

- Even if A Rod/Lore win Arbitration it does not mean they will own the team for sure. The owners have to vote. Now Bloomberg money might help that situation because the new owner should have more financial backing but we have to remember Glen has been friends with these people for a long time, Glen does not want to sell the team, will Glen owner friends actually agree to make A Rod/Lore the new owners. I personally think this is the biggest hurdle.

- Sure there is always a risk of the team moving but I will say the NBA does not want that and they are going to expand to Seattle and Vegas and with that each owner will get 300 million in expansion fees. They do not want the Wolves moving to Seattle or Vegas they want an expansion to Vegas.

- Main reason Bloomberg is involved is to buy out Glen if they win ownership. Sounds like whoever wins between Glen and A Rod side the other side is going to be bought out (For the better).

- I know there is going to be concerns of moving if Arod/Lore win. However it was mentioned that Bloomberg is a New Yorker and that is scary. I will say the Vikings Owner in the Wilfs are also New Yorkers and they have had great success building the Vikings organization in Minnesota.

- Based on podcasts and reports from Jon K. It sounds like A Rod group is operating like they own the team. They have had discussions about a new Target Center and for it to be privately funded. I know the rumor of the new arena would be Eagan and they want to create a Timberwolves village, and it is very unlikely that the twin cities would still have the Wolves going forward. A Rod group has also had discussions to get rid of Balleys and he wants to create it own "YES" network for Minnesota sports. Once again if they are able to privately fund the arena and get a TV Network done, that is a lot of long term financial potential for the new owners. So yes they might move the team, however they are doing a great job of hiding it with having conversations of plans in Minnesota

- Tim Connelly did not get a raise to 15 million he got about a 1.5 million dollar raise and his opt out is pretty much a Glen Taylor clause. If Glen retains the team Tim will opt out next year. Glen and Connelly just have a ok relationship at best.

- Bloomberg being added helps a ton for being able to pay the Lux tax however, there is still a lot of roster construction issues when in the 2nd apron. So yes one hurdle is solved in the financial aspect of the tax however roster construction is really hard. I will say I am expecting Slow Mo to be back on a 1 year deal bigger than expect because of that and they will use his contract to trade for multiple players next year (Just a prediction from me).

- At the end of the day I want Arod and Lore to run this team, I know Glen sucks. I like what Arod and Lore have done for this organization. If they fuck us I will be super sad but I can't do the Glen era again. Also I think moving the team is such a small possibility from everything I said above.

- Carlos mentioned the "No Moving Clause" Glen wanted with A Rod/Lore and that is not legally possible to put in. It was verbally agreed on but that is just like Glen looking Wiggins in the eye asking if he would try hard. It means nothing

Excellent summary Kekgeek! This is very helpful to those of us that haven't done much digging into on this topic.

[mjs34]

A couple things from all the reading and podcasts I have listened to on the situation. (Lip has actually covered a lot of this)

- Adding Bloomberg means nothing when it comes to arbitration with Glen. The A Rod/Lore camp now having more money does not effect the situation at all when it comes to arbitatiration. It comes down to did A Rod/Lore break the contract in any way and that is what will be decided on.

- Even if A Rod/Lore win Arbitration it does not mean they will own the team for sure. The owners have to vote. Now Bloomberg money might help that situation because the new owner should have more financial backing but we have to remember Glen has been friends with these people for a long time, Glen does not want to sell the team, will Glen owner friends actually agree to make A Rod/Lore the new owners. I personally think this is the biggest hurdle.

- Sure there is always a risk of the team moving but I will say the NBA does not want that and they are going to expand to Seattle and Vegas and with that each owner will get 300 million in expansion fees. They do not want the Wolves moving to Seattle or Vegas they want an expansion to Vegas.

- Main reason Bloomberg is involved is to buy out Glen if they win ownership. Sounds like whoever wins between Glen and A Rod side the other side is going to be bought out (For the better).

- I know there is going to be concerns of moving if Arod/Lore win. However it was mentioned that Bloomberg is a New Yorker and that is scary. I will say the Vikings Owner in the Wilfs are also New Yorkers and they have had great success building the Vikings organization in Minnesota.

- Based on podcasts and reports from Jon K. It sounds like A Rod group is operating like they own the team. They have had discussions about a new Target Center and for it to be privately funded. I know the rumor of the new arena would be Eagan and they want to create a Timberwolves village, and it is very unlikely that the twin cities would still have the Wolves going forward. A Rod group has also had discussions to get rid of Balleys and he wants to create it own "YES" network for Minnesota sports. Once again if they are able to privately fund the arena and get a TV Network done, that is a lot of long term financial potential for the new owners. So yes they might move the team, however they are doing a great job of hiding it with having conversations of plans in Minnesota

- Tim Connelly did not get a raise to 15 million he got about a 1.5 million dollar raise and his opt out is pretty much a Glen Taylor clause. If Glen retains the team Tim will opt out next year. Glen and Connelly just have a ok relationship at best.

- Bloomberg being added helps a ton for being able to pay the Lux tax however, there is still a lot of roster construction issues when in the 2nd apron. So yes one hurdle is solved in the financial aspect of the tax however roster construction is really hard. I will say I am expecting Slow Mo to be back on a 1 year deal bigger than expect because of that and they will use his contract to trade for multiple players next year (Just a prediction from me).

- At the end of the day I want Arod and Lore to run this team, I know Glen sucks. I like what Arod and Lore have done for this organization. If they fuck us I will be super sad but I can't do the Glen era again. Also I think moving the team is such a small possibility from everything I said above.

- Carlos mentioned the "No Moving Clause" Glen wanted with A Rod/Lore and that is not legally possible to put in. It was verbally agreed on but that is just like Glen looking Wiggins in the eye asking if he would try hard. It means nothing

I think that is just a formality as long as the financing/assets are in place. They already approved them as minority owners so they likely have no other red flags to worry about.

Have you heard rumors about any issues between Connelly and Taylor? Taylor seems to be more of a "hands off" owner and loyal to his people. As long as the money is there, I wouldn't expect there to be an issue now that he is settled here in Mn.

[AbeVigodaLive]

During a recent Dane Moore podcast Jon K stated that Arod/Lore have mentioned a privately financed arena in the near future.

Yeah. I just heard about that from a couple of buddies last night. They also said that they already have the location picked out... but when the owner of that land was asked... he said he hasn't been contacted.

I don't know. But I should probably learn more about what's going on.

My buddies also wondered whether that statement was more of a PR move to get local support from fans. We'll see when it comes down to it whether any new arena would be publicly financed. I'd be SHOCKED if the people in charge don't at least try to get public money first.

Where is the location?

They said it was behind Target Center/Target Field... closer to 94 and where the Farmers Market is.

[kekgeek]

A couple things from all the reading and podcasts I have listened to on the situation. (Lip has actually covered a lot of this)

- Adding Bloomberg means nothing when it comes to arbitration with Glen. The A Rod/Lore camp now having more money does not effect the situation at all when it comes to arbitatiration. It comes down to did A Rod/Lore break the contract in any way and that is what will be decided on.

- Even if A Rod/Lore win Arbitration it does not mean they will own the team for sure. The owners have to vote. Now Bloomberg money might help that situation because the new owner should have more financial backing but we have to remember Glen has been friends with these people for a long time, Glen does not want to sell the team, will Glen owner friends actually agree to make A Rod/Lore the new owners. I personally think this is the biggest hurdle.

- Sure there is always a risk of the team moving but I will say the NBA does not want that and they are going to expand to Seattle and Vegas and with that each owner will get 300 million in expansion fees. They do not want the Wolves moving to Seattle or Vegas they want an expansion to Vegas.

- Main reason Bloomberg is involved is to buy out Glen if they win ownership. Sounds like whoever wins between Glen and A Rod side the other side is going to be bought out (For the better).

- I know there is going to be concerns of moving if Arod/Lore win. However it was mentioned that Bloomberg is a New Yorker and that is scary. I will say the Vikings Owner in the Wilfs are also New Yorkers and they have had great success building the Vikings organization in Minnesota.

- Based on podcasts and reports from Jon K. It sounds like A Rod group is operating like they own the team. They have had discussions about a new Target Center and for it to be privately funded. I know the rumor of the new arena would be Eagan and they want to create a Timberwolves village, and it is very unlikely that the twin cities would still have the Wolves going forward. A Rod group has also had discussions to get rid of Balleys and he wants to create it own "YES" network for Minnesota sports. Once again if they are able to privately fund the arena and get a TV Network done, that is a lot of long term financial potential for the new owners. So yes they might move the team, however they are doing a great job of hiding it with having conversations of plans in Minnesota

- Tim Connelly did not get a raise to 15 million he got about a 1.5 million dollar raise and his opt out is pretty much a Glen Taylor clause. If Glen retains the team Tim will opt out next year. Glen and Connelly just have a ok relationship at best.

- Bloomberg being added helps a ton for being able to pay the Lux tax however, there is still a lot of roster construction issues when in the 2nd apron. So yes one hurdle is solved in the financial aspect of the tax however roster construction is really hard. I will say I am expecting Slow Mo to be back on a 1 year deal bigger than expect because of that and they will use his contract to trade for multiple players next year (Just a prediction from me).

- At the end of the day I want Arod and Lore to run this team, I know Glen sucks. I like what Arod and Lore have done for this organization. If they fuck us I will be super sad but I can't do the Glen era again. Also I think moving the team is such a small possibility from everything I said above.

- Carlos mentioned the "No Moving Clause" Glen wanted with A Rod/Lore and that is not legally possible to put in. It was verbally agreed on but that is just like Glen looking Wiggins in the eye asking if he would try hard. It means nothing

I think that is just a formality as long as the financing/assets are in place. They already approved them as minority owners so they likely have no other red flags to worry about.

Have you heard rumors about any issues between Connelly and Taylor? Taylor seems to be more of a "hands off" owner and loyal to his people. As long as the money is there, I wouldn't expect there to be an issue now that he is settled here in Mn.

So the source is Doogie so take it as a grain of salt even though he has Glen Taylor as a legit source. He mentioned that the reason there is an opt out is because if Glen retains as owner. Calling their relationship “lukewarm at best”

[Coolbreeze44]

Thanks Kek for the info.

I just can't see the team moving, it really makes no sense. I think a Wolves village in Eagan would be awesome. That area was once the epicenter of sports in the market and it was a great time to be a fan. Sounds like all good news to me.

[Lipoli390]

A couple things from all the reading and podcasts I have listened to on the situation. (Lip has actually covered a lot of this)

- Adding Bloomberg means nothing when it comes to arbitration with Glen. The A Rod/Lore camp now having more money does not effect the situation at all when it comes to arbitatiration. It comes down to did A Rod/Lore break the contract in any way and that is what will be decided on.

- Even if A Rod/Lore win Arbitration it does not mean they will own the team for sure. The owners have to vote. Now Bloomberg money might help that situation because the new owner should have more financial backing but we have to remember Glen has been friends with these people for a long time, Glen does not want to sell the team, will Glen owner friends actually agree to make A Rod/Lore the new owners. I personally think this is the biggest hurdle.

- Sure there is always a risk of the team moving but I will say the NBA does not want that and they are going to expand to Seattle and Vegas and with that each owner will get 300 million in expansion fees. They do not want the Wolves moving to Seattle or Vegas they want an expansion to Vegas.

- Main reason Bloomberg is involved is to buy out Glen if they win ownership. Sounds like whoever wins between Glen and A Rod side the other side is going to be bought out (For the better).

- I know there is going to be concerns of moving if Arod/Lore win. However it was mentioned that Bloomberg is a New Yorker and that is scary. I will say the Vikings Owner in the Wilfs are also New Yorkers and they have had great success building the Vikings organization in Minnesota.

- Based on podcasts and reports from Jon K. It sounds like A Rod group is operating like they own the team. They have had discussions about a new Target Center and for it to be privately funded. I know the rumor of the new arena would be Eagan and they want to create a Timberwolves village, and it is very unlikely that the twin cities would still have the Wolves going forward. A Rod group has also had discussions to get rid of Balleys and he wants to create it own "YES" network for Minnesota sports. Once again if they are able to privately fund the arena and get a TV Network done, that is a lot of long term financial potential for the new owners. So yes they might move the team, however they are doing a great job of hiding it with having conversations of plans in Minnesota

- Tim Connelly did not get a raise to 15 million he got about a 1.5 million dollar raise and his opt out is pretty much a Glen Taylor clause. If Glen retains the team Tim will opt out next year. Glen and Connelly just have a ok relationship at best.

- Bloomberg being added helps a ton for being able to pay the Lux tax however, there is still a lot of roster construction issues when in the 2nd apron. So yes one hurdle is solved in the financial aspect of the tax however roster construction is really hard. I will say I am expecting Slow Mo to be back on a 1 year deal bigger than expect because of that and they will use his contract to trade for multiple players next year (Just a prediction from me).

- At the end of the day I want Arod and Lore to run this team, I know Glen sucks. I like what Arod and Lore have done for this organization. If they fuck us I will be super sad but I can't do the Glen era again. Also I think moving the team is such a small possibility from everything I said above.

- Carlos mentioned the "No Moving Clause" Glen wanted with A Rod/Lore and that is not legally possible to put in. It was verbally agreed on but that is just like Glen looking Wiggins in the eye asking if he would try hard. It means nothing

Great summation of the situation, kek. You’ve completely captured my sense of things.

[Carlos Danger]

- Carlos mentioned the "No Moving Clause" Glen wanted with A Rod/Lore and that is not legally possible to put in. It was verbally agreed on but that is just like Glen looking Wiggins in the eye asking if he would try hard. It means nothing

FYI, I found an old article of what was said at the time of the deal regarding a "no move clause".

https://www.nbcsports.com/nba/news/glen ... olves-sale

It was stated at the time that any such clause would be difficult to enforce. But, without anyone other than the parties involved knowing the exact language...we don't know what we don't know.

Even though I'm not a Taylor fan, I do believe he has an agreement in place to keep the team here. But I would also assume there would be windows or "outs" based on different criteria or time limitations. Nobody is paying that kind of money to be handcuffed without options. That stated, I agree with most everyone else, a move in the near term seems unlikely. Longer term - nobody knows. It was probably the one good thing about home grown Taylor owning the team - we knew they were not going anywhere (including the playoff - cue rimshot)

[kekgeek]

- Carlos mentioned the "No Moving Clause" Glen wanted with A Rod/Lore and that is not legally possible to put in. It was verbally agreed on but that is just like Glen looking Wiggins in the eye asking if he would try hard. It means nothing

FYI, I found an old article of what was said at the time of the deal regarding a "no move clause".

https://www.nbcsports.com/nba/news/glen ... olves-sale

It was stated at the time that any such clause would be difficult to enforce. But, without anyone other than the parties involved knowing the exact language...we don't know what we don't know.

Even though I'm not a Taylor fan, I do believe he has an agreement in place to keep the team here. But I would also assume there would be windows or "outs" based on different criteria or time limitations. Nobody is paying that kind of money to be handcuffed without options. That stated, I agree with most everyone else, a move in the near term seems unlikely. Longer term - nobody knows. It was probably the one good thing about home grown Taylor owning the team - we knew they were not going anywhere (including the playoff - cue rimshot)

It’s not in the purchase agreement so we do sort of no. Like the article said it’s so hard to put a no move clause in.

Purchase agreement below: https://www.courtlistener.com/docket/59 ... -v-taylor/

I’ve not read the purchase agreement in full, however people like Dane and Doogie have and I think they would of mentioned the no moving clause

[Carlos Danger]

It’s not in the purchase agreement so we do sort of no. Like the article said it’s so hard to put a no move clause in.

Purchase agreement below: https://www.courtlistener.com/docket/59 ... -v-taylor/

I’ve not read the purchase agreement in full, however people like Dane and Doogie have and I think they would of mentioned the no moving clause

Refresh me...where did Dane and Doogie go to Law School again? I'm just busting your chops. I'm going by what Taylor himself said (multiple times) at the time of the deal which was widely published back then. And maybe I'm a fool, but I put more stock in that than whatever someone unfamiliar with the negotiations/agreement might be saying. Taylor would obviously have first hand knowledge of what was included and where to find that language (if it exists). That would be a good question for D and D to ask Taylor.

Here's a quote from Taylor on around the time the deal was being finalized:

"The 80-year-old Taylor purchased the Timberwolves in 1994 for $88 million to keep them from moving to New Orleans. He told reporters when the negotiations with Lore and Rodriguez began that the franchise remaining in Minnesota was a condition of the sale.

“There was no use talking to them if they didn’t agree to that,” Taylor said in an April 10 interview with The Associated Press."

https://www.nba.com/news/sued-by-partne ... -wont-move

[Monster]

I read through this thread to get a sense of what some of you had to say about this since I didn’t get to read what people thought during my in season hiatus.

My thoughts:

I’m no investment guru but I know there are no sure things. however if I had a bunch of money I would absolutely be in on investing in an NBA team. Maybe it dies out in 10-20 years or something but I’m feeling pretty good about my investment growing. I’ll add that the Wolves deal also includes ownership of the Lynx. If you don’t have NBA money and there was a WNBA franchise available to purchase…I think that would be something to seriously consider. That league is on the rise. The Lynx are off to a hot start this season and the value of that franchise could go through the roof. Oh and the Wolves have this Anthony Edward’s guy…he is going to make whoever owns the Wolves a bunch of money.

Jon K said recently he thinks part of the reason they are looking for a privately financier arena is that with all the other recent stadiums being built that public money might simply be tapped out. The other thing about building it yourself and reaping the profits is…you get to decide on things not wait for a bunch of other people to be like no we don’t want to pay for that or whatever.

I don’t live in MN so where the team is located doesn’t matter as much to me as someone who has season tickets etc but like Lip says I just don’t see any reasonable path to moving the team. It’s a good market and other major franchises have no problem making plenty of money. Golden state had more history than the Wolves but they went through a pretty shitty stretch and nobody was like oh man those warriors are cool and then they had a generational talent in Steph Curry etc and had a dynasty. Even with all the money they have paid out they have likely made a massive amount of money. Don’t underestimate the idea that owners like the idea that they can take something that isn’t working and make it amazing or be the savior etc. Mr Taylor is himself an example of that but imagine if the Wolves end up having a run of being a legit good franchise for the next 20 years Lore and Arod etc could end up with credit and be lauded here. Not a bad why to have a legacy all while making billions.

I’m interested in how things play out with arbitration. I’m not sure I buy Wolfsen’s report that Taylor and Connelly don’t get a long that well. Connelly is basically exactly the type of guy Glen likes. He also likes someone that can make him money and get him a good team. Jon K said their relationship is just fine.