Flipping NBA teams. So hot rn

Every team being bought up as financial assets gonna be run like absolute dogshit

Damn Lore and ARod were actually so cool as owners and seemed to care. Back to being nervous

Didn’t Lore just buy it not too long ago? I swear he went through hell to buy it as well

At least Glen Taylor didn’t get to profit. He sold the Wolves for 1.5 billion, but the Wolves years later got sold for 4.5 billion

everyone trying to get in before vegas & seattle

Lore tripped his investment in 4 years. Who is the new guy?

People don’t seem to understand these string of sales is tied to underlying issues in our economy. It varies by situation, but a lot of these owners leveraged themselves to buy teams and those bills are now coming due. They don’t have the cash and are forced to sell.

Huge day for Marcs

Stad, the founder and managing partner of Dragoneer Investment Group, had been a significant minority investor in the Timberwolves and Lynx under the ownership group of Lore and Alex Rodriguez.

Sources said the transfer of ownership between the Stad family and Lore developed after months of conversations and allowed Stad, Rodriguez and Lore to continue working together and maintain the Timberwolves and Lynx current leadership structures.

Stad’s wife, Elisa Stad, will serve as the Timberwolves governor. Rodriguez will continue to serve as a co-owner of both the Timberwolves and Lynx.

Lore will retain a minority investment  in the teams, while Rodriguez has decided to increase his equity percentages, sources said. Lore elected to take a step back from his co-owner and co-chairman roles in order to focus on the IPO push for his food-tech company, the Wonder Group, over the next calendar year, believing changing ownership seats with Stad gave the Timberwolves the best opportunity for continued success. - Shams

This private equity arc of the NBA go crazy

forget pokemon cards, scalping NBA teams is where the real moneys at

The NBA is just billionaires flipping franchises to billionaires now. The league will be worse for it. Guys like Portland’s owner will become more the norm than the exception.

I hope municipalities tell these wealth mongers to go kick rocks the next time they want to steal tax dollars to upgrade their arena.

Go to hell Lore and Arod wtf is this

Please don’t run this like fucking private equity firms. Oh god this is gonna suck isn’t it

Edit: I guess Stad was already the #3 majority owner and he just moved up to #1. Somewhat reassuring but still kinda odd for Lore to sell a year after getting official full control from Glen Taylor

Lore and A-Rod bought the Wolves (and Lynx) at a 1.5 Billion valuation. Lore made some serious money.

Adam Silver needs to go. This has become NBA by Blackstone

okay seriously what the fuck is going on? Two teams that were bought within the last two years have been sold within a week of each other

“American business leader”….these insiders just relay whatever they’re told. News breaking would be using descriptors that actually teach us something, not just glaze

American business leader? Shams, you gotta change a word or two when you’re fed information. You can just write “businessman.”

Time to cash in Reinsdorf.

Wtaf did Sliver do to the league man. What a sad state of affairs the NBA is in where these teams are just going to get flipped over and over.

What does this mean for A-Rod?

Don’t know anything about him. Would he like to buy the blazers too please?

Love it or List it (NBA edition)

What the fuck

Dog I just woke up

Only Marc’s I recognize is Gasol & Mero..

Gasol goes without saying..

Mero is best known for wanting to fight whomever stole his wife(Sable) from him..

He went into WWE RAW ready to throw hands.. & when he was told it was Brock who took Sable from him..

He said.. “Nah I am good” & promptly dropped his anger..

Starting to feel better about Vivek by default

Vivek, your turn

Kings next! Kings next!

Wake up babe, new Marc just dropped

What the fuck is going on? This is truly bizarre shit.

His LinkedIn profile is public, and I suggest checking it out. Because it doesn’t look like someone who should be a multi-billionaire.

I don’t want to share any links in fear of getting banned for something like doxxing, but you can just google his name.

Seems like the private equity companies have finally realized that sports teams are money printing machines, I’m surprised its actually taken this long after they were allowed to buy stakes in teams.

Very nervous about the future of sports as more and more teams are going to be controlled by dudes who are just looking to get as much money as possible out of their “assets” without caring to engage with institutions that mean so much to all of the people in a teams’ community

I wonder what kind of house of cards Lore’s purchase was built on? Remember him and Arod agreed to buy the team and then couldn’t come up with the money and then Taylor tried to ratfuck them and say “oh sorry price went up.”

In terms of net worth Lore is not very high up there like some of the other owners. I wouldn’t be shocked if the financing was some fucked up, ponzi scheme, similar to the Lakers and Dogers, and he knows its going to come crashing down and he got out while he can.

Dundon overpaid

Jesus Christ the money these fuckers have while the rest of us fight over scraps. Sold for 1.5 billion five years ago and the folk up top made so much since then that someone else is slinging 3 times that much at it.

Selling your team so hot right now

What does this mean for the wolves ?

Another private equity loser

RIP

wtf is going on?!

wtf man lol are we gonna get flipped?

excited to see how this continues the minnesota sports curse :(

Well that was fast

Oh no.

only 4.5 billion? Psshh poverty franchise

As long he don’t fuck up the lynx, this should be an excellent move for the wolves on the other side

man we just got flipped wtf😭

If I had Shams over a barrel for a scoop like this, I would make him call me something even cooler than “American business leader.”

I’d make him cut a Ric Flair promo about me in his tweet if he wanted my scoop.

The writing is on the wall for all major professional sports league. People need to realize the people at the top are no longer even pretending to care and you need to find a new hobby soon.

We’re all so fucked

What does American business leader even mean

Oh man if only I had access to millions of people’s life insurance I could buy an NBA team too

Vivek please be next.

What?

so marc lore can make more robot slop bowls

Everything is private equity now

Is Lore going to be indicted, too? Has to be liquid for the pardon-hush money.

After a 5-second google search, all I can find on him that’s not a puff piece is that he’s a Private Equity leech and a massive source of Democrat dark money funding. I guess by billionaire standards it… could be worse? 🤷‍♂️

They flippin these things like NFTs lol

is minnesota such a bad market that even with a promising team they sold for half of what the expansion franchises are reportedly getting bid up to?

Ummm, yeah this is a problem.

I get it from the owner’s perspective, “hey my team is now worth way more money, I want to cash in and make a bunch of money”.

So the problem is there is no penalty for doing this. If they built in huge fees for selling before x amount of years or something it may help, or I am sure there are logical ways of stopping this behavior of flipping.

What’s crazy is that all this has made me appreciate Tillman. He seems to actually care about the team and city and wants to put a good product on the floor.

Now if he could just stop blowing Trump, and bringing that ghoul Ken Paxton to home games we’d be in business.

These people have too much money.

Not let owners flip franchises for a certain time period, not let owners move a team within say 10 years of owning the team. Owning a franchise is losing its meaning in this current world, and the fans are the ones who get impacted most

i’m calling it rn, 5 years from now NBA valuation will drop maybe to half of this ludicrous valuation we have now.

Is he going to rename the Twolves Dragoneers?