1. The contact is ironclad regarding a call option around the closing. This basically says the NBA has to approve before they can close, therefore an automatic extension. The contract is below – enjoy!
Obviously, if the NBA doesn’t approve, you’re not going to pay for the ownership. That’s spelled out here. So, Glen is in breach of contract. Also, the March 27th date is fictional, real deadline is now the end of June as they await NBA approval.
2. I’m not sure why Glen continues to make false statements, which he’s done multiple times regarding dates, but it’s been clear many times that he doesn’t understand his own deal. Odd too, as these are his partners even if they don’t secure the next 40%. Marc and Alex have certainly helped increase the valuation of the entity – Glen can’t just take that back now.
3. What will happen next: Marc and Alex rarely speak about rumors and untruths, which is why they have been quiet. However, Glen putting out press releases and saying the team is not for sale will force their hand.
I’m sure you’ll hear from Marc and Alex soon to clear up their whole story, hopefully on my favorite podcast…
4. The end game: Glen’s historical reputation will be amplified as he’s forced to sell his shares because he didn’t understand his own deal.
Everyone's asking for my take on the Lore + Arod situation. Instead of replying to all the DM's here you go:
1. The contact is ironclad regarding a call option around the closing. This basically says the NBA has to approve before they can close, therefore an automatic extension.… pic.twitter.com/zQS87eSm1y
— Dan Bowling (@Dan4Bowling) March 29, 2024
by TylerIreland
4 Comments
Yup. Preety much how i read the contract too. Glen is just posturing at this point
This guy is an idiot. “Obviously you don’t pay if you’re not approved.” Yeah sorry bud, that’s not how the contract works. You needed to close the deal and THEN you have 90 extra days for NBA approval. A-Rod has clearly been struggling to put up the money, Lore has his piece covered. A-Rod lost a huge business partner in 9-figure J-Lo when they ended their engagement just after the deal was announced and he has massively struggled to put up $$$ since including as recently as last week.
Is this the guy that has a hard-on for Marc Lore?
Anyone speaking with any sort of certainty about the specifics of this situation is effectively telling you not to trust them.
I cannot conceive of a world where Glen and the people around him are so grossly incompetent that they don’t understand their own deal in a way that some random dude could easily understand. Maybe there’s some legal precedent or piece of contract minutia that gets ARod and Lore some extra leeway, but I just cannot fathom it’s a simple as Bowling is making it out to be.
Also, he has a clear and unrelenting bias for Lore (one listen to his appearance on that first Dane Moore appearance should make that abundantly clear). I wouldn’t trust anything he says on this front right now.