People on this subreddit don’t read articles. And they’re allergic to trying learn about the details of anything so a new post where they just have to glance at it is probably helpful (derogatory).
Remarkably every single highest scoring comment on the main post is wrong, or incredibly misguided.
- The Timberwolves are not flipping the team to new owner. There’s a new majority owner, but Stad was already a significant minority owner prior to the sale. The sale is being done this way in order to retain continuity for the team. This was an active choice by Lore instead of selling outside.
- The ESPN report seems to indicate that A-Rod is increasing his equity percentages in the team.
- Lore is still going to remain a minority owner.
- The article explicitly indicates that all of this was done this way so they could all continue working together.
- So because of 1/2/3 that means when they say 4.5 billion they mean the total valuation of the team. The actual amounts being bought and sold are less than that amount being exchanged.
This plea won’t go anywhere. But please anyone out there, read articles. Like whole articles, it takes like three minutes, your life will improve for it. Often you will even be less angry at things because of it.
https://www.espn.com/nba/story/_/id/49681800/sources-stad-reaches-deal-controlling-stake-t-wolves-lynx