Glen Taylor Rumors | Hoops Rumors

Alex Rodriguez’s Financial Situation Puts Timberwolves Deal In Jeopardy

August 30th, 2022 at 11:58am CST by Arthur Hill

Alex Rodriguez is struggling to come up with his share of the money to buy the Timberwolves, according to business writer Josh Kosman of The New York Post.

Rodriguez and Marc Lore were originally supposed to be equal partners in the $1.5 billion purchase, which included a $250MM down payment made in July of 2021. However, three sources tell Kosman that Rodriguez wasn’t able to pay 50% of that cost and Lore had to cover the balance. That leaves Lore with about a 13% share of the team, while Rodriguez is at 7%.

Under the purchase agreement, the prospective owners are required to make their next 20% payment by the end of the year. Kosman’s sources said Rodriguez continues to have difficulty raising his share, and Lore may eventually become the team’s majority owner. “I wouldn’t be surprised if A-Rod becomes a subservient No. 2 to Lore,” one of the sources said.

Lore refused to confirm or deny the report, telling Kosman that he and Rodriguez still work together on all their decisions.

“I couldn’t imagine having a better partner. He is one of my best friends,” Lore said. “There is no one else I would rather be partners with than Alex.”

A source familiar with both investors said Lore teamed up with Rodriguez in a failed attempt to buy the New York Mets in 2020 because he was “completely mesmerized” by Jennifer Lopez, whom Rodriguez was engaged to at the time. The star quality of Lopez created a lot of financial opportunities for Rodriguez, but those have disappeared since their breakup last year.

“His ability to raise capital went from strong to meaningfully weaker,” one of Kosman’s sources said. “J.Lo validated him.”

Rodriguez is reportedly worth about $500MM, but sources say most of his assets aren’t liquid and can’t be easily transferred to cash that could be used to buy the Wolves. Kosman notes that NBA rules won’t allow Rodriguez to become a partial owner unless he can cover at least 15% of the total purchase price without help from co-investors. That figure would be nearly $200MM with the team’s debt factored in.

If Rodriguez and Lore make their next payment on time, they’ll have the opportunity to buy an additional 40% from current owner Glen Taylor and take over control of the team by the end of next year. But a league source tells Kosman that Taylor won’t be disappointed if the current arrangement falls through because he believes the franchise is now worth more than $2 billion and he can make more by selling it to someone else.

Wolves’ Glen Taylor Talks Gobert, McDaniels, Russell, Towns

August 11th, 2022 at 4:04pm CST by Luke Adams

Appearing on The Scoop podcast with Darren Wolfson of SKOR North and 5 Eyewitness News, Timberwolves majority owner Glen Taylor admitted he was somewhat surprised by the team’s acquisition of star center Rudy Gobert, since it “happened fairly fast.”

According to Taylor, new Wolves president of basketball operations Tim Connelly had his eye on multiple impact trade targets, but Gobert was his “number one option.” The input of head coach Chris Finch, who expressed confidence in his ability to use Gobert and Karl-Anthony Towns, was also a key factor in Minnesota’s decision to pull the trigger on the blockbuster deal.

“What I did when Tim and Chris talked to me about this trade is to ask (Finch) is there a system that he knows how to utilize these players,” Taylor said. “And he was very confident that he did understand how to utilize their skill sets, being two big guys. We talked about a lot, so he convinced me that this is something that is going to take us to a winning situation, and gave us the go-ahead to make the trade.”

Taylor confirmed that the Jazz pushed for Jaden McDaniels to be part of the trade package for Gobert, which “prolonged the trade talks for a while,” but the Wolves were eventually able to meet Utah’s asking price without including the young forward.

Here’s more from Taylor on the Wolves:

Asked if he’d like to see D’Angelo Russell sign an extension before the season begins, Taylor said it might benefit both sides to hold off and see how the 2022/23 season goes. “(Finch) believes that with the new lineup, and with Russell in that lineup, that he’ll have a much better year just because of the way we’re going to play,” Taylor said. “He says he thinks there’s a big upside for Russell with this group of (players). That’s to his advantage and to our advantage if it works out.”
The decision to give Towns a super-max extension this offseason was an easy one, Taylor said: “It was a non-issue. That’s what we set it up for, the elite players, and Karl has proved he’s one of those players.”
Taylor said that he doesn’t expect the Timberwolves to make any more significant roster moves this offseason, though he didn’t rule out the possibility that Connelly could surprise him. “I just know Tim keeps his ears and eyes open all the time, looking (to see) if there’s something else that might happen,” Taylor said. “He’s very proactive if he sees an opportunity that could enhance our team. I think we’re set, but always knowing that he’ll be looking for an opportunity.”
The plan remains for Taylor to hand over control of the franchise to incoming owners Marc Lore and Alex Rodriguez in a little over a year. The Wolves’ longtime owner said he’s not having any regrets about giving up control of the team as it becomes a more legitimate contender. “No, I don’t have any second thoughts. I think it’s the right thing to do,” Taylor said. “We’ve left some options open that I’ll continue to be involved if I want to be involved, and that suits me just fine.”

Northwest Notes: Taylor, Lore, A-Rod, Kroenke, Jazz

May 26th, 2022 at 9:15pm CST by Dana Gauruder

Timberwolves owner Glen Taylor has forged a sound working relationship with minority owners Marc Lore and Alex Rodriguez, proven by their successful recruitment of Denver’s Tim Connelly to head up their front office, The Athletic’s Jon Krawczynski writes. Taylor, who allowed the duo to design an offer that would be very difficult for the Nuggets to match, enjoys the ambition and energy of Lore and A-Rod and has gained confidence in their ability to complete a major transaction.

We have more from the Northwest Division:

The press conference involving Nuggets president/governor Josh Kroenke has been postponed after he recently tested positive for COVID-19. He is one of several members of the organization to test positive this week, according to the team. The press conference, scheduled for today, has been tentatively moved to Tuesday, according to the Denver Post’s Mike Singer (Twitter links).
What are the Jazz seeking to upgrade their roster? A long, rangy wing player who is solid offensively and can defend on the perimeter and switch 1-to-5, Tony Jones of The Athletic writes. However, those players are in high demand throughout the league, which makes the Jazz’s task of finding such a player quite difficult.
The Jazz’s draft workout on Thursday included R.J. Cole (UConn), Tyson Etienne (Wichita State), Johnny Juzang (UCLA), Jared Rhoden (Seton Hall), Akoldah Gak (Australia) and Trevion Williams (Purdue), Eric Walden of the Salt Lake Tribune tweets. Williams (No. 50 on ESPN’s Best Available list) is the highest-rated among that group of second-round prospects.

Nuggets’ Connelly To Meet This Weekend With Wolves Owner

May 21st, 2022 at 10:06am CST by Dana Gauruder

Nuggets president Tim Connelly will meet with Timberwolves majority owner Glen Taylor regarding the top executive position within Minnesota’s organization, according to ESPN’s Adrian Wojnarowski.

Connelly has already discussed the position extensively with minority owners Marc Lore and Alex Rodriguez and an in-person meeting with Taylor is next in the process, Wojnarowski adds (Twitter links).

As Chris Hine of the Minneapolis Star Tribune tweets, Lore and Rodriguez have significant influence over the process, but Taylor has to sign off on any deal.

Reports regarding Minnesota’s interest in Connelly surfaced on Wednesday. He has been the head of Denver’s basketball operations since 2013, when he was named vice president of basketball operations and general manager. He was promoted to president in 2017.

Connelly is the first external candidate to be officially linked to the lead basketball job in Minnesota’s front office. Executive vice president of basketball operations Sachin Gupta, who has been serving as the head of the basketball operations department on an interim basis following the dismissal of Gersson Rosas in September, remains a candidate for the position.

Lore and Rodriguez have pushed to have a proven, prominent exec take over the basketball operations, regardless of the cost. The Nuggets have been aware of Minnesota’s interest in Connelly for some time and don’t appear poised to make a major counter-offer, Mike Singer of the Denver Post tweets.

Western Notes: G. Taylor, Curry, Mavs, Kings

April 26th, 2022 at 6:56pm CST by Luke Adams

A group of animal welfare activists – members of the organization Direct Action Everywhere who have conducted a series of protests at Timberwolves games in recent weeks – want Glen Taylor to step down from his role as the Wolves’ team owner, writes Kevin Arnovitz of ESPN.

As Arnovitz details, Taylor is the owner of Rembrandt Farms, a large-scale factory farm that recently killed more than five million birds using a method known as “ventilation shutdown plus” that activists view as inhumane. That method was employed in an effort to combat an outbreak of bird influenza.

Taylor has agreed to eventually hand over the reins of the Timberwolves to incoming owners Alex Rodriguez and Marc Lore. However, Arnovitz says the activists want to expedite the succession process, which currently doesn’t call for Rodriguez and Lore to assume full control until at least a year from now.

According to Arnovitz, Direction Action Everywhere is also demanding that Taylor contribute $11.3MM to public health and animal welfare organizations. That amount is equivalent to the $11.3MM that Rembrandt Farms received in federal funds in 2015 to combat another influenza outbreak, per ESPN.

Here’s more from around the Western Conference:

Warriors star Stephen Curry will no longer face a minutes restriction in Game 5 vs. Denver on Wednesday, head coach Steve Kerr said today (Twitter link via Kendra Andrews of ESPN). There has been speculation that Curry will reenter the starting lineup on Thursday, but Kerr didn’t confirm or deny that.
On the verge of winning a playoff series for the first time in his career, Mavericks guard Luka Doncic praised his teammates, including Dorian Finney-Smith and Reggie Bullock, who rushed to confront Jazz center Hassan Whiteside following a hard foul on Doncic on Monday. “They had my back,” Doncic said, per Tim MacMahon of ESPN. “Both of them, anybody, we had each other’s back. That’s what great teams do. I would go with these guys to war. This is a special team.”
In his offseason preview for the Kings, ESPN’s Bobby Marks (Insider link) explores the resources Sacramento has available to upgrade its roster, concluding that the draft and trade market are the team’s best bets. In Harrison Barnes, Justin Holiday, Maurice Harkless, and Alex Len, the Kings have about $35MM in expiring contracts, Marks observes.

Wolves Notes: Cauley-Stein, Edwards, Beverley, Ownership

March 8th, 2022 at 4:03pm CST by Luke Adams

In an appearance on Darren Wolfson’s The Scoop podcast at SKOR North, Timberwolves owner Glen Taylor said that Minnesota is considering adding a free agent who could help improve the team’s rebounding numbers.

Asked specifically if the Wolves could bring back veteran center Greg Monroe, who was on a 10-day deal with the club earlier this season, Taylor responded, “We’re looking at a number of possibilities.”

According to Wolfson, one possible target the Wolves have discussed internally is Willie Cauley-Stein, who recently spent time in Philadelphia on a 10-day deal. Cody Zeller, who was waived last month while recovering from a procedure on his knee, isn’t currently considered an option, Wolfson adds.

Here’s more out of Minnesota:

Anthony Edwards has missed the Timberwolves’ last four games due to knee soreness, but Taylor is confident the injury is not a major issue. “We’re dealing with some swelling and some pain,” Taylor told Wolfson. “We just want to buy a little time, but it’s nothing major or anything that will keep him from being out there soon.”
Taylor doesn’t anticipate a significant offseason roster shakeup in Minnesota. “Most players are already signed for next year, so there won’t be major changes,” he told Wolfson.
One player who had been on track for unrestricted free agency this summer was guard Patrick Beverley, but he signed a one-year, $13MM extension with the Wolves in February. Taylor said that was a fairly straightforward negotiation, since both sides had interest in continuing the relationship, and that the main issue was deciding on the length of the contract. Beverley “preferred to add something longer,” according to Taylor, who said the team wanted to maintain some flexibility beyond 2022/23.
Asked by Wolfson if the plan is still for Alex Rodriguez and Marc Lore to assume majority control of the Timberwolves in December 2023, Taylor replied, “Probably.” Pressed on whether it could happen sooner than next December or later than that, Taylor said that both scenarios are possible, indicating that nothing is set in stone yet.

Details On Timberwolves’ Dismissal Of Gersson Rosas

September 23rd, 2021 at 8:18am CST by Luke Adams

The Timberwolves‘ dismissal of president of basketball operations Gersson Rosas was made for “performance reasons,” a high-ranking team source told Jon Krawczynski and Shams Charania of The Athletic. The team’s lack of success during Rosas’ tenure was a key factor in the decision, and complaints from staffers about Rosas’ leadership also played a part, per The Athletic’s duo.

However, another issue that factored into the timing of the move was the fact that the Wolves recently learned that Rosas – who is married – had a “consensual intimate relationship” with a member of the organization, according to Krawczysnki and Charania, who suggest that the relationship made several people within the franchise uncomfortable.

The Athletic’s deep dive into the situation in Minnesota’s front office uncovered sources who said Rosas worked his staffers long hours without giving them much input into personnel decisions. Some members of the front office took issue with those decisions, such as the one to include such light protections (top-three) on the first-round pick the Wolves sent Golden State in the D’Angelo Russell trade.

Rosas did have backers within the organization, including some who reached out to The Athletic in recent weeks to defend the way things were going, per Krawczynski and Charania. Some of Rosas’ defenders believe the pandemic and the change of ownership were factors that contributed to tension in the front office, while Rosas himself “vehemently disputed” that there were any significant problems with the team’s culture.

Still, many of The Athletic’s sources described Rosas’ tenure as dysfunctional, and when those complaints reached ownership, Glen Taylor, Alex Rodriguez, and Marc Lore decided the situation was untenable and a move needed to be made sooner rather than later.

“It’s hard,” said one staffer who followed Rosas to Minnesota after he was hired in 2019. “He’s not who I thought he was.”

The report from Krawczynski and Charania is worth checking out in full if you’re an Athletic subscriber. Here are some of the other highlights:

New interim head of basketball operations Sachin Gupta is well-regarded by team officials and is expected to get a chance to earn the permanent job, sources tell The Athletic. However, Krawczynski and Charania note that Gupta did “butt heads” with Rosas this summer when Gupta sought to make a lateral move to the Rockets for a similar job with higher pay, and Rosas blocked him. Rosas defended the decision by saying that the move wouldn’t have been a promotion, and it was too close to the draft and free agency to let a top executive with so much knowledge of Minnesota’s plans leave to join a rival. According to The Athletic, Rosas “banished” Gupta from the team’s offices in August and allowed him to seek employment elsewhere at that point, but Gupta decided to stay with the Wolves after ownership got involved.
Some player agents had issues with Rosas’ negotiating tactics, according to Krawczynski and Charania, who point to the team’s recent contract talks with Jordan McLaughlin as one example. A source tells The Athletic that Rosas reneged on promises about the role McLaughlin would have going forward after Patrick Beverley was acquired. Although agents recognized Rosas’ primary allegiance was to the organization, they expected better treatment in certain scenarios, according to The Athletic’s duo. “Rosas was the cause of mishaps and pulled his promises,” the source said of the McLaughlin negotiations.
Rosas’ decision to replace head coach Ryan Saunders with Chris Finch during the season without considering any other candidates – including minority candidates – wasn’t popular with some staffers, and neither was the decision to part with veteran scout Zarko Durisic last year, per Krawczysnki and Charania. Some people believed those moves flew in the face of Rosas’ portrayal of the organization as a “family.”
Krawczynski and Charania say Rosas was “working feverishly” this offseason to try to acquire Ben Simmons, who was viewed by some people in the organization as the roster’s missing piece. It’s unclear if Gupta will have the same level of interest in the Sixers star.
A report from Jake Fischer of Bleacher Report confirms and adds some details to many of the issues reported by The Athletic, including the recent discovery of Rosas’ “consensual extramarital affair” with a team staffer.

Wolves Notes: Beverley Trade, Free Agency, Beasley

August 17th, 2021 at 5:00pm CST by Eli Cohen

In his latest piece for The Athletic, Jon Krawczynski writes that for the Timberwolves, trading Juan Hernangomez and Jarrett Culver was not just about adding a veteran defender and shooter in Patrick Beverley, but also about dealing two players who were looking for a change of scenery to get their careers back on track.

According to Krawczynski, Culver grew disenfranchised with the Wolves as he fell further and further out of the rotation in 2020/21, which caused him at times to seem to lose all confidence in himself. Hernangomez wanted out from the team that barred his participation in the Olympics due to a shoulder injury that Spanish doctors had cleared him from, and even went so far as to reach out to team owner Glen Taylor to attempt to circumvent the decision of president Gersson Rosas.

Krawczynski adds that Rosas has a relationship with Beverley going back to his time in with the Rockets, the team that originally brought the defensive-minded point guard over from Europe and got his NBA career on track.

We have more Timberwolves news:

Krawczysnki suggests that adding a little extra money in the Beverley deal will further complicate the Wolves’ efforts to sign restricted free agents Jarred Vanderbilt and Jordan McLaughlin to multiyear deals. He expects Vanderbilt to receive a multiyear contract, while the team uses te minimum salary exception to add another point guard, either McLaughlin or someone else.
Trading Culver is a concession by Rosas that the first draft pick of his tenure, a pick he traded Dario Saric and the 11th pick to acquire, was a failure, writes Michael Rand of The Star Tribune. The idea, Rand writes, was for Culver to provide a similar skill-set Beverley will now be counted on for: to play hard-nosed defense and knock down threes. Rand adds that, on his expiring salary, Beverley could be a good trade chip if the team is underperforming at the trade deadline.
Darren Wolfson of SKOR North tweets that he’s been told Beverley is “very happy” with the trade to the Wolves. Beverley, no stranger to fighting for his place in the league, has had a tumultuous couple days, and while no longer on a championship contender, he has a chance to play a vital role for an up-and-coming team.
Malik Beasley has been released from jail after serving 78 days for pleading guilty to threats of violence, writes Jeff Day of The Star Tribune. Beasley was sentenced to 120 days, and was released after 78 for good behavior. If he completes his three years of probation, the charge will be dropped from felony to misdemeanor.

Northwest Notes: Conley, Jazz, Collison, Thunder, Wolves

August 10th, 2021 at 1:45pm CST by Arthur Hill

Now that Mike Conley‘s contract situation is worked out, he’s focused on helping the Jazz win a championship, writes John Coon of The Associated Press. Conley received interest from multiple teams before agreeing to a three-year, $68MM contract to stay in Utah.

“Last year had a disappointing end to it,” he said. “But all the strides we’ve made along the way allow us to come into this season still chasing that championship — that ultimate goal. And it’s something that’s truly attainable. Something we can grasp. We’re right there. We’re knocking on the door.”

Conley also addressed the hamstring issue that caused him to miss five of the six games in the second-round series with the Clippers, saying he’s making progress toward a full recovery.

There’s more from the Northwest Division:

The Jazz haven’t historically been a popular destination for free agents, but that may be changing after the team’s success last season, per Sarah Todd of The Deseret News. In addition to keeping Conley, Utah was able to sign veteran free agents Rudy Gay and Hassan Whiteside. “A lot of really, really good teams were coming after me and wanted me to be there but I think this team was the team that had the most need for what I can do,” Gay said in his introductory press conference. “The culture, the ownership group is great, coach Quin (Snyder) is great. They really sold me on it.”
The Thunder announced in a press release on Tuesday that Nick Collison has been hired to the team’s front office, having been named a special assistant to general manager Sam Presti. According to Joe Mussatto of The Oklahoman (Twitter link), Eric Maynor is also moving from the OKC Blue staff to the Thunder as a player development coach, while Anthony Morrow has been hired as a lifestyle services and engagement associate.
The $27.5MM+ trade exception the Thunder created in last fall’s Steven Adams trade has now expired. As Bobby Marks of ESPN (Instagram video) observes, it’s not a big loss for Oklahoma City, since the team can still create up to $32MM in cap room by renouncing the rest of its exceptions if it so chooses.
Incoming Timberwolves owners Alex Rodriguez and Marc Lore continue to do the media rounds, speaking to Jon Krawczynski of The Athletic about how their partnership with Glen Taylor will work for the next couple years, and talking to Shams Charania of Stadium (video link) about their commitment to Minnesota.

Luke Adams contributed to this post.

Northwest Notes: Jazz, Nuggets, Martin Sr., Timberwolves

August 6th, 2021 at 6:40pm CST by Dana Gauruder

The Jazz’s free agent moves were designed to make them a more complete playoff team, Tony Jones of The Athletic writes. Signing Rudy Gay in free agency and trading for Eric Paschall will allow Utah to match up better against small-ball lineups. The was something the Jazz struggled with when the Clippers went small against them in the postseason. The Jazz are also looking to sign their own restricted free agent, Trent Forrest, to a two-way deal, according to Jones.

We have more from the Western Conference:

The Nuggets began their summer league mini-camp on Friday following a COVID-19 related pause, Kyle Frederickson of the Denver Post reports. Denver’s first three practices were canceled due to health and safety protocols after a positive test and subsequent contact tracing.
Kenyon Martin Sr. is back in the NBA as an assistant coach with the Nuggets’ summer league team, Marc Spears of The Undefeated tweets. He’s hoping to remain in the league in a coaching capacity.
In a detailed interview with the Timberwolves‘ buyers, Jon Krawczynski of The Athletic tells of how former baseball All-Star Alex Rodriguez and Marc Lore made their deal with Glen Taylor. The transfer of ownership will be gradual process and Lore prefers it that way. “Glen had the team for almost 30 years. We’re thinking similarly,” Lore said. “We’re going to have this team for at least the next 30 years. … We don’t think we have all the answers. We’re not ready, quite frankly, to be making all the decisions right now.”