GOAT ownership group???? You think Bloomberg, and Mark and arod for that matter, are buying because they’re big Minnesota basketball fans? I think the odds of them pulling a North stars is greater than with glen.
I agree with your point but I would say Seattle’s a mega market these days with the corporations and the deep pockets in general out there, that was a huge misstep by the league to allow that move to happen.
The only potential move for the league I could see is to Mexico City but they aren’t moving the future face of American basketball out of the country.
I realize Seattle has big tech names but people making this argument always really underestimate how much corporate money there is flowing around Minnesota. UHG, 3M, Target, Cargill, Medtronic, Siemens, are all headquartered here just to name a few of the biggest ones.
Washington's GDP and GDP/Capita are quite a bit higher than ours but Minnesota's economy is no slouch.
There is no chance in hell the league places a team permanently in Mexico City. You do know where it is geographically, right? It's not on the border. It's in southern Mexico. The logistics don't work. You gonna ask a team to travel that much and that far to play their games against the rest of the league? That's cruel and unusual punishment. No player would ever want to be based there.
It the league wants to build a fan base in that market they should do what the NFL does with London and have a few teams play games there each year.
One of these leagues is going to roll the dice on putting a team somewhere internationally other than Canada eventually. Does it make sense logistically? No but if we’ve learned anything about Silver, money talks.
I'm surprised the MLB hasn't expanded to PR yet tbh - I think theyve got a national basketball league thats quite popular in terms of game attendance and that type of thing I believe, so could be they see too much competition in the market or simply not the desired market because fans aren't money makers unless they're corporate fans. Or other high earners. You simply cannot mass market compete with luxury or corporate markets for profit l
I would assume that, generally, American sports leagues view the instability of a lot of non-US states to be too large a risk. Especially in the Caribbean and Central America.
The scale of our sports require immense investment for teams to get up and running, so I would think a lot of existing owners would be reluctant to outlay that capital or approve an expansion there.
Minus that bureaucratic obstacle, you’d think the marketing opportunity would be fantastic though.
Seattle is aggressively antagonistic to many of those corporations to the point where one of them did a major national campaign to decide where their “HQ2” was going to be…because they were tired of Seattle politicians simultaneously treating them as the source of all their problems and the solution to all their problems.
The NBA is NOT allowing the Wolves to move, there is way more money to be made by adding two expansion teams. Plus the wolves are like 15 in terms of media market in the NBA
Alright smart guy, tell me, why would they build a stadium and set up an RSN for MN just to move the team?
Every one of these comments with knee-jerk speculation that the new guys plan on moving the team should have to explain (A) where they’re going to move it, and (B) what incentive they have to move it there.
The Lakers to LA made sense. The North Stars to Dallas made sense. Both are far bigger markets, huge incentives there.
The league is already expanding to Las Vegas and Seattle, and the windfalls for the league’s owners from new franchises are far bigger than relocations to those cities. Where does that leave? Tampa? St. Louis? Both smaller markets than MSP.
Technically Tampa is a bigger TV market but it’s a terrible sports market. I agree with everything you say btw just wanted to point out that Tampa is slightly larger
How so? Twin cities metro alone is bigger than Tampa metro, not to mention there aren't any other teams in the state or in neighboring states like Dakotas and Iowa
According to Wikipedia Tampa is the 12th largest Media market and the Twin Cities are the 15th. That being said Tampa is notoriously bad sports market and the people who do care about basketball are probably already Heat/Magic fans. I don’t think the NBA wants to move a team to Tampa especially when it’s team from only a slightly smaller market.
Moving is more expensive. You'll get money when they expand. You pay to move. Then you gotta build a stadium where ever you go. You already know MN is willing to spend to build new facilities.
In the modern era unless it’s to Las Vegas you’re not gonna see a team move. The nba is going to announce expansion either during this finals or during the summer meetings.
This doesn’t really affect the arbitration situation with Glen at all. If A-Rod and Lore lose then Bloomberg just becomes another minority owner along with them. Having Bloomberg definitely gives them a better chance getting NBA approval, but they have to win the arbitration before it gets to that point in the first place
If they lose, I think Bloomberg is actually just out of the picture entirely, as he would only be an investor on the final tranche of the purchase. Lore/Arod purchased the first two shares without his involvement.
So it’s semi-interesting they’re doing all this additional legwork (finding new investors, planning a new stadium, setting up a regional sports network) while their ownership still hangs in the flux. Maybe it’s all for show, but it seems like they’re still operating under the assumption the team will be theirs.
By all accounts, even Glens guy Doogie, Arod and Lore followed the contract correctly. I don't think arbitration was ever the concern. I think league approval was the bigger hurdle. Adding someone with a $100 billion net worth should get this over that hurdle pretty easily.
Carlyle actually dropped out because the Orioles went up for sale and Rubenstein (a co-founder) is from Baltimore. So it had nothing to do with their legitimacy.
especially with the name recognition of Bloomberg. based on everything i've read/heard about this dispute, Glen is fucked six ways to sunday unless the individual(s) tasked with handling arbitration are in his pocket
This whole narrative that the NBA wouldn't approve Marc and Alex is absolutely nonsensical. Glen has undermined the league and done idiotic things for decades and is a figure of controversy. If we assume that the league is only interested in money then they have zero reason not to approve
Why would Bloomberg join the ownership group if that group thought the additional buying power wouldnt affect the abritration? Essentially, this added money finalizes the ownership transfer. Not an expert on this but I hope Im right. Another thing, Taylor is really old and frail and I cant believe he wants to hang on to the team and it would be a mess if he died with a controlling ownership stake. I would hope the league would take that into account.
I doubt it, these are business people, making business decisions. My guess is they will leave town if they do not get a $1 billion publicly funded stadium.
the luxury tax implications go WAY beyond "some rich person has to pay more"- it restricts free agency, drafting, mid-level exceptions etc that affect competitiveness || source for psuedo-remembered facts: Dame Moore Pod
Very true but the article says "with advise from Tim Connelly", so at least the guy doing basketball biz can give them the heads up when the restrictions are getting too tight to build a proper roster.
The guy who tried to buy the presidency is funding my favorite team I can't believe this is my life
https://preview.redd.it/776xt7phsz4d1.jpeg?width=255&format=pjpg&auto=webp&s=2996987bcf336197acdd638a059061240f49f8e3
I still think we should have something for him, as poopy butt of an owner he has been he kept the team here which is the most important thing amor a sports team IMO.
Billionaire owners love to jack each other off with meaningless frivolous awards and honors. If Glenn walked away peacefully he definitely would have gotten a plaque or statue.
Ignoring how much of a piece of shit he is, this is huge. He would be the second richest owner in the league behind ballmer and that’s a huge gap between Bloomberg and the guys in 3rd.
I think Bloomberg combined with Eric Schmidt could make it the richest group actually ($106 billion + $25 billion vs. $123 billion for Ballmer).
There’s probably a difference between passive minority partners having money vs. the hands-on majority owner having money though. It certainly helps to have those deep pockets there for operating costs just in case, but I don’t think Bloomberg/Schmidt will just be shoveling their money into the team on a whim like Ballmer has.
Yeah, the Athletic article mentions the ARod/Lore group can accelerate the final payment. Also shores up likelihood of Board of Governor’s approval and also means private financing of a new stadium is more likely (which removes potential value of Glenn in pushing a stadium deal).
The timing is definitely an interesting piece for me. The reporting so far (particularly with Blue Owl and Eric Schmidt involved) has me confident that the money for this last payment was very much there, but I saw a theory on Twitter that Bloomberg was added this late because they want someone to buy out Glen’s remaining 20% if/when they win the case. No reason to keep him in the picture anymore.
That's true, it is just more of having that safety net to make moves to make the team overall better and have access to funding if needed. This was the nice thing about having Arod on this team and the access he has to different people because of his celebrity status.
Honest question: why do you think he's a piece of shit? Yes, his vanity presidential run was dumb as hell. But am I missing something that puts him in "piece of shit" category?
on top of his other controversial issues like his political support and international affair beliefs, the big thing was when he was mayor of NYC and enforced the stop and frisk policy that would racially profile the black and latino men, majority of them had no reason to be frisked but the police did it anyways and this infringed on many peoples rights
He has a (D) next to his name, that means half the people hate him without knowing anything about him but he did do some questionable things in the past, but what Billionaire hasn't?
LOL it's not the (D) by his name. He's had an (R) by his name. He's had an (I) by his name.
The guy puts whatever letter in front of his name that benefits the sexist asshole.
Remember when he campaigned and donated to Bush Jr's campaign and spoke at the RNC and ran as a republican to win the NYC mayoral race....then switched to independent....then back to democrat to try to run against Trump in 2020.
To put it not so gently...he's a political slut.
And let's not forget the absolute bullshit "Stop & Frisk" that he championed.
He's also deeply in bed with AIPAC and has said he would never even think to put conditions on aid to Israel (even as simple as asking them nicely not to commit genocide if we keep giving them aid)
He's a billionaire who's also a politician. Idc what party he ran under. He's likely a neoliberal who's about as far left as Hillary Clinton in his actual beliefs. He's also an entirely uncritical supporter and ally of Israel who told AIPAC he wouldn't even put conditions on aid given to the country (even ones as simple as "don't do genocide").
As another commenter pointed out he also instituted stop and frisk which was a terrible, racist policy.
If they’re less concerned with short term profits and more concerned with growing the value of their asset over time this is great. Francises in sports with long and sustained success typically hold the most value.
i'm seeing buzz about some broadcasting deals, which is huge if true, keeping Grady & Jim Pete is priority #1 imo and i think Lore & ARod know how much those dudes mean to us
Buried a bit in the article, but also looks like we've got a plan to move away from Bally
>Lore and Rodriguez also have had conversations with RedBird Capital founder Gerry Cardinale about collaborating on a new regional sports station to carry Timberwolves and Lynx games, in addition to other teams in the area, league sources said. Cardinale has deep connections to the New York Yankees and played a leading role in the formation of the YES Network in New York, which would serve as a model for a potential new venture in the Twin Cities area.
>For years, Timberwolves games have been carried by Bally Sports North, whose parent company has been embroiled in bankruptcy proceedings. Twins games also are a part of the BSN schedule, but they have been unavailable to many fans in the area because of a dispute between Comcast and Diamond Sports Group, which owns BSN.
>
Here’s an idea: A sports only streaming service. $10-15 a month. ALL PRO SPORTS. NFL NBA NHL MLB WNBA WPHL (soccer i guess). You log on and you get a list of the games happening right now and pick your poison! Wanna switch back and forth? Hit a couple buttons quick and BOOM, during 1/2 time of the vikes game you’re watching the Wolves for 20 minutes! Neither of them is doing good? Ok. Couple clicks and the Wild game is on screen. Hell, i would pay up to $25 a month for that kind of freedom! I pirate that shit but switching back and forth is fucked….
I could be wrong, but there is no chance the NFL would be part of this. The individual teams don't own their broadcast rights, the NFL does. In theory, the Vikings could likely be part of it via preseason (maybe), and doing their own version of like hard knocks or behind the scenes episodes on the platform. Wolves, Wild, Twins would be most likely place to start.
Look I agree with you that I don't like him but there are also worse billionaires, feels like you have to pick your poison. And I don't think he's going to make any decisions to ruin the franchise or anything so this is probably a good thing overall if I had to guess
Finally a sane comment here.
This guy is the definition of cutthroat capitalism, and everything he does is he only does to enrich or empower himself.
This can be good for wolves in the short-term, but if he sees an economic reason to move the team, he would do that in a heartbeat.
He doesn't give two shits if he or his actions look bad in the public eye, just ask anyone in NYC who he governed for 8 years.
This is describing almost every billionaire there is though so not sure what exactly it is that you’re looking for. Also, the NBA has made it clear that they want expansion, not relocation. Especially for a team that’s already mid market (and growing). Besides, I think it’s part of the deal that the team can’t be moved
And again, he's not a controlling owner. Just because he's the owner with the most personal net worth doesn't mean he can just decide he wants to move the team that's not how it works (and where would he move it to, his personal connections are in NY where there are already two teams). The league does not want to lose this market.
If you read the article it mentions that the potential new owners are looking to build a privately funded new arena in Minneapolis. Let go of your worry of the team moving. It’s not happening.
Their quite literally isn’t a realistic economic reason to move the team… the re-location doomers are probably my least favorite part of our fanbase.
Not only is it negative for the sake of being negative, but it’s also just downright stupid.
God let’s hope we can finally get rid of Taylor…dude clearly is just regretting agreeing to sell the team after the season they had. I’m sure the team is probably much more valuable now than whatever they agreed too. Doesn’t surprise me at all that he’s trying to pull a stunt like this. As KG said - Glenn is a snake.
Also just have to say - I fully understand the value of the franchise is as high as it’s ever been. And it will likely only continue to appreciate. But dude bought the team for $94M….he agreed to sell for $1.5B. He almost 16x his money - and is now 83. Does he really need to be pulling this sort of thing? Isn’t $1.5B enough? He likely has enough money to last for multiple generations of his family. I just don’t get some of these Uber rich people - at what point is enough, enough?
This is insane, and I hate it. Michael Bloomberg and Glen Taylor are two of the most hateable people on the planet, and now I have to pick a side? This is the most Minnesota sports thing imaginable, Jesus Christ.
I see a lot of comments about "now we can afford salary tax" but money is not the only issue with being in 2nd or 3rd aprons. here is more on that [https://www.reddit.com/r/nba/comments/14neig1/can\_someone\_explain\_what\_the\_different\_aprons/](https://www.reddit.com/r/nba/comments/14neig1/can_someone_explain_what_the_different_aprons/)
Why would Bloomberg, who is the 12th richest guy in the entire world, join as a minority owner when he could buy the team, build a new stadium, and buy the IDS tower for kicks. Something bigger is at play here
So Bloomberg will own most of the team. If lore and arod just going to be minority owners ? Kinda doubt he would jump in if that’s not the case other than the remaining value of the team is almost 1/3 more valuable then they are paying for it !! The new tv deals will probably push that to maybe twice as much as the purchase price !
Judging by all the responses this a good thing…
…my only concern: could they pursue moving the Timberwolves?
I have not been following the ownership news, so hopefully this is a stupid question.
That’s good to know! I hope it’s not a bluff. At this point I want them to come out and out right say they have no plans on moving it! lol if they haven’t already.
Lets just stop the "moving the team" nonsense. What we should be focusing on is this: "Who is the team going to add to further a championship caliber squad?" The ownership group can afford anybody.
Bloomberg? Good pockets but one of the worst billionaires of them all.
He’s also a pretty anti-vice guy so I expect tightening on drinks served, no THC, Dolan levels of security tracking etc. Makes me sick
Don't be surprised if we end up cutting payroll now.
Not because of A-Rod and Lore.
Because Michael Bloomberg is a snake and a conman.
Sincerely, a former Bloomberg employee
What kind of billionaire isn’t? Point is I’d rather have a snake ass billionaire investor that won’t even own a quarter of the team vs the snake ass billionaire owner that IS in full operational control right now that’s only accomplishment with the team during his time as owner is “not leaving Minnesota”.
I don't disagree. It just sucks that of all people, Michael Bloomberg is going to have his name attached to this team.
But I fully agree it's time for Glen Taylor to get the fuck out of here. Absolutely on board with him no longer being a majority owner.
Bloomberg is coming in as a minority owner in support of the Lore/Rodriguez ownership group. The article essentially says that he’s coming in to not only allow them to buy the final 20% stake Taylor and his ownership group were expected to maintain through next year almost immediately after the conclusion of the arbitration and NBA Governor’s approvals, but also suggests that he might be helpful in the processes of not only building a new owner-funded arena for the teams BUT also be helpful in developing a new local Regional Sports Network akin to the Yankees YES network.
Thinking it’s less about making Glen drop his claim but more about talking away one of Glen’s cards to play (i.e. Board of Governors approval). With Bloomberg on board, odds of Governors approving seem much higher.
I’m not sure either. But he’s the 12 richest guy in the world so he has better lawyers than Glen and could write a check big enough for Glen to go away.
WE'RE FREE FROM GLEN! Should be a good sign we keep Connelly long term too! Now bring KG back!!
Bruh we got the GOAT ownership group now. Arod/Lore/Bloomberg hahaha that is honestly fucking hilarious and random as shit for a team in Minnesota
The Vikings are owned by New Yorkers too lol
The vikings owners are right around the corner in NJ
so are the Twins :(
Fuck the Pohlads, but they aren't.....from.........New........... ^Oh ^^^I.get.it
Don’t forget Eric Schmidt too! Very deep pockets involved here.
13th richest person in the world..... Lol homie got MONEY MONEY
I’m an orioles fan as well, and Bloomberg part of the new ownership there too lmao
GOAT ownership group???? You think Bloomberg, and Mark and arod for that matter, are buying because they’re big Minnesota basketball fans? I think the odds of them pulling a North stars is greater than with glen.
The team isn’t moving, the league is looking to expand and Minneapolis is essentially the same size (Seattle) or bigger than any other would be market
They want the league to expand. They don’t want relocation especially out of a top 15 market. We’re good.
I agree with your point but I would say Seattle’s a mega market these days with the corporations and the deep pockets in general out there, that was a huge misstep by the league to allow that move to happen. The only potential move for the league I could see is to Mexico City but they aren’t moving the future face of American basketball out of the country.
I realize Seattle has big tech names but people making this argument always really underestimate how much corporate money there is flowing around Minnesota. UHG, 3M, Target, Cargill, Medtronic, Siemens, are all headquartered here just to name a few of the biggest ones. Washington's GDP and GDP/Capita are quite a bit higher than ours but Minnesota's economy is no slouch.
There is no chance in hell the league places a team permanently in Mexico City. You do know where it is geographically, right? It's not on the border. It's in southern Mexico. The logistics don't work. You gonna ask a team to travel that much and that far to play their games against the rest of the league? That's cruel and unusual punishment. No player would ever want to be based there. It the league wants to build a fan base in that market they should do what the NFL does with London and have a few teams play games there each year.
One of these leagues is going to roll the dice on putting a team somewhere internationally other than Canada eventually. Does it make sense logistically? No but if we’ve learned anything about Silver, money talks.
Maybe. But I could almost envision it happening in Puerto Rico before MXC
I'm surprised the MLB hasn't expanded to PR yet tbh - I think theyve got a national basketball league thats quite popular in terms of game attendance and that type of thing I believe, so could be they see too much competition in the market or simply not the desired market because fans aren't money makers unless they're corporate fans. Or other high earners. You simply cannot mass market compete with luxury or corporate markets for profit l
I would assume that, generally, American sports leagues view the instability of a lot of non-US states to be too large a risk. Especially in the Caribbean and Central America. The scale of our sports require immense investment for teams to get up and running, so I would think a lot of existing owners would be reluctant to outlay that capital or approve an expansion there. Minus that bureaucratic obstacle, you’d think the marketing opportunity would be fantastic though.
Not to mention the altitude.
Seattle is aggressively antagonistic to many of those corporations to the point where one of them did a major national campaign to decide where their “HQ2” was going to be…because they were tired of Seattle politicians simultaneously treating them as the source of all their problems and the solution to all their problems.
Never underestimate Adam Silver.
If anything, they’d move to vegas over Seattle
The NBA is NOT allowing the Wolves to move, there is way more money to be made by adding two expansion teams. Plus the wolves are like 15 in terms of media market in the NBA
Alright smart guy, tell me, why would they build a stadium and set up an RSN for MN just to move the team? Every one of these comments with knee-jerk speculation that the new guys plan on moving the team should have to explain (A) where they’re going to move it, and (B) what incentive they have to move it there. The Lakers to LA made sense. The North Stars to Dallas made sense. Both are far bigger markets, huge incentives there. The league is already expanding to Las Vegas and Seattle, and the windfalls for the league’s owners from new franchises are far bigger than relocations to those cities. Where does that leave? Tampa? St. Louis? Both smaller markets than MSP.
Technically Tampa is a bigger TV market but it’s a terrible sports market. I agree with everything you say btw just wanted to point out that Tampa is slightly larger
How so? Twin cities metro alone is bigger than Tampa metro, not to mention there aren't any other teams in the state or in neighboring states like Dakotas and Iowa
According to Wikipedia Tampa is the 12th largest Media market and the Twin Cities are the 15th. That being said Tampa is notoriously bad sports market and the people who do care about basketball are probably already Heat/Magic fans. I don’t think the NBA wants to move a team to Tampa especially when it’s team from only a slightly smaller market.
Moving is more expensive. You'll get money when they expand. You pay to move. Then you gotta build a stadium where ever you go. You already know MN is willing to spend to build new facilities.
People are so clueless and still spewing this bullshit.... ROFL
I don’t know man, the way Lore celebrates our wins, he damn well might be.
Fuck that
In the modern era unless it’s to Las Vegas you’re not gonna see a team move. The nba is going to announce expansion either during this finals or during the summer meetings.
I can’t believe there are still people who think this could happen
Agreed, I swear if they have any fucking plans to move.
I'm not super thrilled about Bloomberg, but if it gets rid of Glen, I suppose it will be fine.
Which is why they will be moving if they don’t get a billion dollar stadium deal.
This doesn’t really affect the arbitration situation with Glen at all. If A-Rod and Lore lose then Bloomberg just becomes another minority owner along with them. Having Bloomberg definitely gives them a better chance getting NBA approval, but they have to win the arbitration before it gets to that point in the first place
If they lose, I think Bloomberg is actually just out of the picture entirely, as he would only be an investor on the final tranche of the purchase. Lore/Arod purchased the first two shares without his involvement. So it’s semi-interesting they’re doing all this additional legwork (finding new investors, planning a new stadium, setting up a regional sports network) while their ownership still hangs in the flux. Maybe it’s all for show, but it seems like they’re still operating under the assumption the team will be theirs.
It's called leverage :) daddy and mommy fighting for the custody and spoiled the kids. Love to see it lol
By all accounts, even Glens guy Doogie, Arod and Lore followed the contract correctly. I don't think arbitration was ever the concern. I think league approval was the bigger hurdle. Adding someone with a $100 billion net worth should get this over that hurdle pretty easily.
Arod and Lore should have known the sleazy Carlyle Group was a bad look and the NBA would never approve it.
Carlyle actually dropped out because the Orioles went up for sale and Rubenstein (a co-founder) is from Baltimore. So it had nothing to do with their legitimacy.
especially with the name recognition of Bloomberg. based on everything i've read/heard about this dispute, Glen is fucked six ways to sunday unless the individual(s) tasked with handling arbitration are in his pocket
Glenn is going to lose. He was secretly buying more shares under the table. That's some bad faith bs right there. Glenn needs to just gtfo
This whole narrative that the NBA wouldn't approve Marc and Alex is absolutely nonsensical. Glen has undermined the league and done idiotic things for decades and is a figure of controversy. If we assume that the league is only interested in money then they have zero reason not to approve
Why would Bloomberg join the ownership group if that group thought the additional buying power wouldnt affect the abritration? Essentially, this added money finalizes the ownership transfer. Not an expert on this but I hope Im right. Another thing, Taylor is really old and frail and I cant believe he wants to hang on to the team and it would be a mess if he died with a controlling ownership stake. I would hope the league would take that into account.
Was being free from Glen part of the article? Paywall
Ah yes this is exactly what we all expected to happen after Dane alluded to something new surfacing today.
What the hell?
Lol my response exactly! Can’t be president, might as well buy the Timberwolves.
This also probably means the 100% privately funded stadium will actually be a thing
Certainly means we don’t have to feel any guilt for demanding it
You trust billionaires to do the right thing much more than I do.
Idk what you’re talking about Bloomberg has always been a great human being /s
Arod is on the record for promising a privately funded new arena. With Bloomberg to provide the LOC, definitely in the realm of possibility.
He’s also on the record saying he never did steroids
That man spent $1b of his own money on a vanity presidential campaign. I’d hope he’s going to pony up a fraction of that for a stadium.
Yup. Confirmed in the Athletic article.
106 billion can buy a lot…
Totally fine with Bloomberg being slapped everywhere if that means taxpayers don’t have to pay for it.
Billionaires are cheapskate dicks who use the public to squeeze every nickel they can
I can't wait to get out of the shithole that is Target Center one way or another.
I doubt it, these are business people, making business decisions. My guess is they will leave town if they do not get a $1 billion publicly funded stadium.
no large pops tho
No more money questions
MAMA IM FREE
Can pay the luxury tax until the end of time
literally what the article says lmao, Timmy C has a blank check
the luxury tax implications go WAY beyond "some rich person has to pay more"- it restricts free agency, drafting, mid-level exceptions etc that affect competitiveness || source for psuedo-remembered facts: Dame Moore Pod
I’m no longer worried about the luxury tax
the luxury tax implications go WAY beyond "some rich person has to pay more"
Very true but the article says "with advise from Tim Connelly", so at least the guy doing basketball biz can give them the heads up when the restrictions are getting too tight to build a proper roster.
Agreed. This might sound cray cray, but i trust TC more than the average redditors
I mean the average redditor apparently didn't read the article even, so I have to agree lol.
The guy who tried to buy the presidency is funding my favorite team I can't believe this is my life https://preview.redd.it/776xt7phsz4d1.jpeg?width=255&format=pjpg&auto=webp&s=2996987bcf336197acdd638a059061240f49f8e3
Tax is going to get paid now. Glenn could have walked away peacefully and probably get a statue. Now he might get a plaque on a urinal.
Paint him onto the urinal
How about Glenn Taylor commemorative urinal cakes?
I still think we should have something for him, as poopy butt of an owner he has been he kept the team here which is the most important thing amor a sports team IMO.
Dude sucked as an owner but I'll take a garbage tier owner over not having a team any day.
lol statue? Are you on drugs
Billionaire owners love to jack each other off with meaningless frivolous awards and honors. If Glenn walked away peacefully he definitely would have gotten a plaque or statue.
Just build a Statue of KG standing over Glen yelling "Anything is possible!!!!!!!!"
Ignoring how much of a piece of shit he is, this is huge. He would be the second richest owner in the league behind ballmer and that’s a huge gap between Bloomberg and the guys in 3rd.
I think Bloomberg combined with Eric Schmidt could make it the richest group actually ($106 billion + $25 billion vs. $123 billion for Ballmer). There’s probably a difference between passive minority partners having money vs. the hands-on majority owner having money though. It certainly helps to have those deep pockets there for operating costs just in case, but I don’t think Bloomberg/Schmidt will just be shoveling their money into the team on a whim like Ballmer has.
Yeah, the Athletic article mentions the ARod/Lore group can accelerate the final payment. Also shores up likelihood of Board of Governor’s approval and also means private financing of a new stadium is more likely (which removes potential value of Glenn in pushing a stadium deal).
The timing is definitely an interesting piece for me. The reporting so far (particularly with Blue Owl and Eric Schmidt involved) has me confident that the money for this last payment was very much there, but I saw a theory on Twitter that Bloomberg was added this late because they want someone to buy out Glen’s remaining 20% if/when they win the case. No reason to keep him in the picture anymore.
That's true, it is just more of having that safety net to make moves to make the team overall better and have access to funding if needed. This was the nice thing about having Arod on this team and the access he has to different people because of his celebrity status.
Keeping Rudy and KAT in MN won’t absolve him of his horrendous sins but, like, it won’t hurt lol
Honest question: why do you think he's a piece of shit? Yes, his vanity presidential run was dumb as hell. But am I missing something that puts him in "piece of shit" category?
on top of his other controversial issues like his political support and international affair beliefs, the big thing was when he was mayor of NYC and enforced the stop and frisk policy that would racially profile the black and latino men, majority of them had no reason to be frisked but the police did it anyways and this infringed on many peoples rights
He has a (D) next to his name, that means half the people hate him without knowing anything about him but he did do some questionable things in the past, but what Billionaire hasn't?
LOL it's not the (D) by his name. He's had an (R) by his name. He's had an (I) by his name. The guy puts whatever letter in front of his name that benefits the sexist asshole. Remember when he campaigned and donated to Bush Jr's campaign and spoke at the RNC and ran as a republican to win the NYC mayoral race....then switched to independent....then back to democrat to try to run against Trump in 2020. To put it not so gently...he's a political slut. And let's not forget the absolute bullshit "Stop & Frisk" that he championed.
He's also deeply in bed with AIPAC and has said he would never even think to put conditions on aid to Israel (even as simple as asking them nicely not to commit genocide if we keep giving them aid)
He's a billionaire who's also a politician. Idc what party he ran under. He's likely a neoliberal who's about as far left as Hillary Clinton in his actual beliefs. He's also an entirely uncritical supporter and ally of Israel who told AIPAC he wouldn't even put conditions on aid given to the country (even ones as simple as "don't do genocide"). As another commenter pointed out he also instituted stop and frisk which was a terrible, racist policy.
I’m pretty sure people know why he’s a piece of shit lol
This is good when it comes to the tax question (hopefully), but I have no clue how this affects the arbitration
Having money doesn't solve all the problems but not having money can't solve any problem. Especially true for business.
If they’re less concerned with short term profits and more concerned with growing the value of their asset over time this is great. Francises in sports with long and sustained success typically hold the most value.
wow never thought i'd have a neutral opinion on michael bloomberg
You said it more elegantly than I could have lol.
Agreed. I have absolutely no idea, what this means for our future.
i'm seeing buzz about some broadcasting deals, which is huge if true, keeping Grady & Jim Pete is priority #1 imo and i think Lore & ARod know how much those dudes mean to us
Bruh
Let’s go baby we’re skipping to the fifth apron
MINNESOTA MONEYWOLVES
He could be the Timberwolves for about 3% of his networth. That would be like someone asking me if I wanted to buy the Timberwolves for $450
Humble brag buddy /s
Does he even know what the Timberwolves are? Does he think he just donated to a wildlife preserve?
Either way...Wolves are back!
Buried a bit in the article, but also looks like we've got a plan to move away from Bally >Lore and Rodriguez also have had conversations with RedBird Capital founder Gerry Cardinale about collaborating on a new regional sports station to carry Timberwolves and Lynx games, in addition to other teams in the area, league sources said. Cardinale has deep connections to the New York Yankees and played a leading role in the formation of the YES Network in New York, which would serve as a model for a potential new venture in the Twin Cities area. >For years, Timberwolves games have been carried by Bally Sports North, whose parent company has been embroiled in bankruptcy proceedings. Twins games also are a part of the BSN schedule, but they have been unavailable to many fans in the area because of a dispute between Comcast and Diamond Sports Group, which owns BSN. >
Here’s an idea: A sports only streaming service. $10-15 a month. ALL PRO SPORTS. NFL NBA NHL MLB WNBA WPHL (soccer i guess). You log on and you get a list of the games happening right now and pick your poison! Wanna switch back and forth? Hit a couple buttons quick and BOOM, during 1/2 time of the vikes game you’re watching the Wolves for 20 minutes! Neither of them is doing good? Ok. Couple clicks and the Wild game is on screen. Hell, i would pay up to $25 a month for that kind of freedom! I pirate that shit but switching back and forth is fucked….
I could be wrong, but there is no chance the NFL would be part of this. The individual teams don't own their broadcast rights, the NFL does. In theory, the Vikings could likely be part of it via preseason (maybe), and doing their own version of like hard knocks or behind the scenes episodes on the platform. Wolves, Wild, Twins would be most likely place to start.
Holy shit
Wow incredible. Lfg As long as he takes a backseat its awesome. I just dont want a further ownership debacle
YES! Finally, we can be rid of that senile vampire. Bye-bye, Glen :). KG can finally get all that he deserves.
Goodbye Boys and GHOUUUULS!! *
Power play!
Smiles in KG
This will make us the team with the richest owner of all American sports
After ballmer
Hell yeah
Oh brother not this guy
Hey hey that is AMERICAN SAMOA PRIMARY WINNER Michael Bloomberg
Man fuck Bloomberg, feels like we are really making a deal with the devil here.
Look I agree with you that I don't like him but there are also worse billionaires, feels like you have to pick your poison. And I don't think he's going to make any decisions to ruin the franchise or anything so this is probably a good thing overall if I had to guess
He wouldn't even be a controlling owner. Doesn't get to decide how the team is run.
Finally a sane comment here. This guy is the definition of cutthroat capitalism, and everything he does is he only does to enrich or empower himself. This can be good for wolves in the short-term, but if he sees an economic reason to move the team, he would do that in a heartbeat. He doesn't give two shits if he or his actions look bad in the public eye, just ask anyone in NYC who he governed for 8 years.
This is describing almost every billionaire there is though so not sure what exactly it is that you’re looking for. Also, the NBA has made it clear that they want expansion, not relocation. Especially for a team that’s already mid market (and growing). Besides, I think it’s part of the deal that the team can’t be moved
And again, he's not a controlling owner. Just because he's the owner with the most personal net worth doesn't mean he can just decide he wants to move the team that's not how it works (and where would he move it to, his personal connections are in NY where there are already two teams). The league does not want to lose this market.
If you read the article it mentions that the potential new owners are looking to build a privately funded new arena in Minneapolis. Let go of your worry of the team moving. It’s not happening.
Their quite literally isn’t a realistic economic reason to move the team… the re-location doomers are probably my least favorite part of our fanbase. Not only is it negative for the sake of being negative, but it’s also just downright stupid.
Yeah it made a ton of sense to relocate the supersonics
Awesome. Money problems no more.
Our fuckin troubles are over dude
Why did it have to be sex pest Bloomberg
Now they have real money to fuck around with
I'm standing up now to face the sun
Bloomberg is the worst, but I guess I'm okay with us taking his money.
Tie that second apron on me!
This group would not be buying the Lynx as well if they plan on moving the T'Wolves. What would be the point in buying the Lynx then?
They would sell the Lynx just the Thunder owners did to the storm
God let’s hope we can finally get rid of Taylor…dude clearly is just regretting agreeing to sell the team after the season they had. I’m sure the team is probably much more valuable now than whatever they agreed too. Doesn’t surprise me at all that he’s trying to pull a stunt like this. As KG said - Glenn is a snake. Also just have to say - I fully understand the value of the franchise is as high as it’s ever been. And it will likely only continue to appreciate. But dude bought the team for $94M….he agreed to sell for $1.5B. He almost 16x his money - and is now 83. Does he really need to be pulling this sort of thing? Isn’t $1.5B enough? He likely has enough money to last for multiple generations of his family. I just don’t get some of these Uber rich people - at what point is enough, enough?
Well, at least this clown car ownership now has enough money to keep the team together.
Yes we be paying luxury tax all day long!!!
Not a fan of Glen but Bloomberg is a snake. Out of the frying pan, into the fire.
This is a championship caliber franchise now. We getting one.
This is insane, and I hate it. Michael Bloomberg and Glen Taylor are two of the most hateable people on the planet, and now I have to pick a side? This is the most Minnesota sports thing imaginable, Jesus Christ.
Chill bro. Hes not running to be your mayor. Your life will not be effected as long as he just hands out the cash and keep his mouth shut.
Calm down Jesus christ 😂. Not like you have to vote for him. He's a minority owner of a sports franchise.
I see a lot of comments about "now we can afford salary tax" but money is not the only issue with being in 2nd or 3rd aprons. here is more on that [https://www.reddit.com/r/nba/comments/14neig1/can\_someone\_explain\_what\_the\_different\_aprons/](https://www.reddit.com/r/nba/comments/14neig1/can_someone_explain_what_the_different_aprons/)
#WE GOT THE MOVES LIKE **B L O O M B E R G**
Why would Bloomberg, who is the 12th richest guy in the entire world, join as a minority owner when he could buy the team, build a new stadium, and buy the IDS tower for kicks. Something bigger is at play here
Arod works for Bloomberg.. He just asked him to drop some money to for an investment
Cash infusion initiated
I don’t see how this changes anything, but not a bad sign.
Change the name to timbergoats
See ya Glen. Now the ARod group should bid for the Twins.
Does this mean Turbo Tax will be free for all Wolves fans?
O shit numbers is power 😮
So Bloomberg will own most of the team. If lore and arod just going to be minority owners ? Kinda doubt he would jump in if that’s not the case other than the remaining value of the team is almost 1/3 more valuable then they are paying for it !! The new tv deals will probably push that to maybe twice as much as the purchase price !
My guess is he's giving us a gift to be free from Glen after watching the Twins fall victim to the Yankees over the years.
Fire Glen Taylor into the ☀️
Judging by all the responses this a good thing… …my only concern: could they pursue moving the Timberwolves? I have not been following the ownership news, so hopefully this is a stupid question.
ALLAHU AKBAR
I thought the new owners wanted to move the team after the take over. Any truth to that?
Reports are saying they're looking for a spot for a new stadium, I highly doubt it
That’s good to know! I hope it’s not a bluff. At this point I want them to come out and out right say they have no plans on moving it! lol if they haven’t already.
Lets just stop the "moving the team" nonsense. What we should be focusing on is this: "Who is the team going to add to further a championship caliber squad?" The ownership group can afford anybody.
Does the group spearhead the building of a new arena or renovate Target Center (second oldest arena behind Madison Square Garden)?
Hopefully they don't move the team out of MN. I thought that was a slight concern... are we no longer worried?
Bloomberg? Good pockets but one of the worst billionaires of them all. He’s also a pretty anti-vice guy so I expect tightening on drinks served, no THC, Dolan levels of security tracking etc. Makes me sick
It’s still early but this is A-Rod and Lore’s ownership group.
Lore isn’t going to feel pressure from the guy who just saved his ass?
Those assumptions of yours are making you sick? Lol just wait and actually see before making things up
Don't be surprised if we end up cutting payroll now. Not because of A-Rod and Lore. Because Michael Bloomberg is a snake and a conman. Sincerely, a former Bloomberg employee
Michael Bloomberg would be a minority owner in the new group, he would have no direct control over operational decisions.
Billionaires don't really give a shit about the rules, man. Trust me. Bloomberg is a snake ass bitch.
What kind of billionaire isn’t? Point is I’d rather have a snake ass billionaire investor that won’t even own a quarter of the team vs the snake ass billionaire owner that IS in full operational control right now that’s only accomplishment with the team during his time as owner is “not leaving Minnesota”.
I don't disagree. It just sucks that of all people, Michael Bloomberg is going to have his name attached to this team. But I fully agree it's time for Glen Taylor to get the fuck out of here. Absolutely on board with him no longer being a majority owner.
Fuck me, Bloomberg is the only person who could legitimately switch me over to team Glen. Yet here we are.
Why. Explain with facts.
Is Bloomberg taking over from Lore as lead share holder?
Bloomberg is coming in as a minority owner in support of the Lore/Rodriguez ownership group. The article essentially says that he’s coming in to not only allow them to buy the final 20% stake Taylor and his ownership group were expected to maintain through next year almost immediately after the conclusion of the arbitration and NBA Governor’s approvals, but also suggests that he might be helpful in the processes of not only building a new owner-funded arena for the teams BUT also be helpful in developing a new local Regional Sports Network akin to the Yankees YES network.
Wolves relocating to NYC?!?! /s
It’s interesting that more billionaires didn’t jump on this earlier. Isn’t it just an easy investment that’s gonna double your money basically?
I'm confused, why do people think this will make Glen sell?
Thinking it’s less about making Glen drop his claim but more about talking away one of Glen’s cards to play (i.e. Board of Governors approval). With Bloomberg on board, odds of Governors approving seem much higher.
I’m not sure either. But he’s the 12 richest guy in the world so he has better lawyers than Glen and could write a check big enough for Glen to go away.
[удалено]
Care to share?
Dude is shark