[Shams] Marc Lore and Alex Rodriguez have closed a second, $290 million payment toward full ownership of the Minnesota Timberwolves, sources tell me and @JonKrawczynski. The Lore-Rodriguez group now owns 40% of the team. They have one more payment before becoming majority owners.
Marc Lore and Alex Rodriguez have closed a second, $290 million payment toward full ownership of the Minnesota Timberwolves, sources tell me and @JonKrawczynski. The Lore-Rodriguez group now owns 40% of the team. They have one more payment before becoming majority owners.
— Shams Charania (@ShamsCharania) March 28, 2023
by cdotter99
12 Comments
hope there’s money left for the inevitable luxury tax. fuck it, a title parade as well.
you too can buy the minnesota timberwolves for just three easy payments of 300 million dollars
Its good that they are ahead of payments by putting extra in. In theory that should relieve burden on them.
The LAST thing we need is the ownership transition hitting the rocks
That’s positive news. According to the NY Post article that was posted here a few weeks ago, the final payment is structured to be another 40% equity so that they collectively own 80%. But considering the increase of NBA franchise values, it’s hard for me to believe they couldn’t find another partner if it was absolutely necessary.
I think it’s fair to still wonder how this all goes longterm. It’s hard to argue that this has been a substantial change for the Wolves franchise, and I think a lot of it has been positive. It does seem like the business, fan experience side has improved. We all know the ups and downs of Tim Connelly, but it was a substantial swing from Lore and A-Rod.
The potential downside is that the moment that the sale closes, I think it’s very likely that we’ll be hearing about the need for a new arena. I love the Wolves, but I’m not a fan of publicly funded sports arenas. My feelings aside, I think it will be a difficult campaign to convince the city of Minneapolis, the County and/or the state to contribute public funds for it.
One step closer to me and ARod drinking presidente together on Nicollet in late June.
Retired jersey coming soon…😈🐺
I wish they were as active as they were during last years lead up to the playoffs…
A-Rod and Marc let’s hop to it 🐺
The idea of ARod going to Mankato makes me giggle…
Becoming a Play-In Champion got me fucked up because now I don’t know if I ironically like A-Rod or actually like A-Rod.
There’s that pioneer press guy that continually reports “arod and lore are broke” scoops…wonder what he thinks of this.
Championship parade once that scumbag chicken killer Glen Taylor is gone.
They should give slomo 5%