Browns owner Jimmy Haslam exploring purchase of nba’s Timberwolves

[soxhop411]

https://www.sportico.com/business/sales/2020/cleveland-browns-jimmy-haslam-timberwolves-1234612602/

Cleveland Browns owner Jimmy Haslamis exploring a bid for the Minnesota Timberwolves, according to two people with direct knowledge of the situation.

Sportico reported in July that billionaire T-Wolves owner Glen Taylor had retained The Raine Group to sell the National Basketball Association franchise he has owned since 1994.

The Straus Group, the family office of Daniel Straus—a former investor in the NBA’s Memphis Grizzlies—had entered into exclusive talks to buy the NBA team, but no agreement was reached by its expiration, said the people, who were granted anonymity because the matter is private.

Just what the Timberwolves need, a winner like Jimmy Haslam!

 

[InstaFace]

Hasn't Minneapolis suffered enough?

Just let KG buy the team. He can't be any worse than Jordan at recruiting and managing people, and it'd be great for PR.

 

[Devizier]

What discount would the NBA accept to keep a low-rent con artist like Haslam from ever becoming a member of the owners club?

 

[soxhop411]

Hasn't Minneapolis suffered enough?

Just let KG buy the team. He can't be any worse than Jordan at recruiting and managing people, and it'd be great for PR.

Agreed.

What discount would the NBA accept to keep a low-rent con artist like Haslam from ever becoming a member of the owners club?

When is the last time the NBA did that to a person that had the highest bid?

 

[nattysez]

When is the last time the NBA did that to a person that had the highest bid?

Taking a lower bid to bring in someone who you prefer to sell to would not be unprecedented. The NBA itself didn't do it, but Larry Ellison had the highest bid for the Warriors but got outmaneuvered by Lacob's group.

 

[HowBoutDemSox]

Another group emerges, lead by entrepaneur Jay Bloom and . . . Arron Afflalo?

Afflalo’s team held discussions with the Raine Group, the search firm working with Wolves owner Glen Taylor to identify candidates, on Wednesday. Afflalo is partnering with entrepreneur Jay Bloom and several other deep-pocketed investors to make a run at buying the team, which first became available at the end of July. The group has not yet met with Taylor or any representatives of the Timberwolves for advanced discussions but is confident it has the financial means and long-term vision for talks to progress to that point.

Neither had any ties to the Twin Cities, which may or may not be an issue:

Afflalo was a dogged defender and respected locker-room leader during his years in the league. He does not have the name recognition locally of another former player that had expressed interest in buying the team, Timberwolves legend Kevin Garnett. But it does appear that Afflalo has been able to assemble the finances to at least get an audience from Raine Group that Garnett has been unable to amass to this point. Afflalo made about $60 million in his playing career, good money but nowhere near enough to be significantly involved in a business deal expected to surpass $1.3 billion. His playing experience and relationships across the league would aid the transition into the NBA for a group of prospective owners that do not have sports ties, and Bloom helped recruit the financial backing to make a serious bid.

There will be other factors involved in Taylor’s evaluation of any candidate. Afflalo is from California and started living in Las Vegas after the 2011 lockout. Bloom is from New York but has a residence in Las Vegas as well.

https://theathletic.com/2055189/2020/09/09/sources-group-led-by-arron-afflalo-engaging-in-talks-to-buy-timberwolves/