It just doesn't make sense why him jumping in as a minority owner would all of a sudden change anything at all in that regard.
Bloomberg a minority owner without a controlling say or calling any shots. He's basically a silent partner money guy (which all ownership groups have).
There's a lot more money to be made here with this franchise, which is one of the reasons Arod and Lore wanted this team. They have real estate plans that not only include a new arena, but a whole entertainment district around the arena. And they have plans to create a regional sports media channel/network. All that right here will make them money. They want to self finance a lot of the arena stuff (makes sense because then they'll own it rather than the state or city and become richer and the team will be worth more) and Bloomberg makes that easier for them to do. I've heard Arod has already started making local real estate investments.
Bloomberg's home and personal connections are NYC, which already has two teams. This isn't a Seattle/OKC situation where the owner wanted to move a team to their home city.
This is a top 15 market with a great fan base and sell out crowds. Lore and Arod know that. They both own homes and live here during the season so it's not like they are out of touch w the fan base. They're very involved locally. Lore was a chairperson of the state's bid to host the world's fair.
Isn't it part of the terms of the sale they can't move the team?
The NBA has no incentive to move this team and doesn't want to. They already have indicated Vegas and Seattle will get expansion teams. That's better for the Leage and all the owners than moving a team. The NBA doesn't want the 15th biggest market to lose a team.
What am I missing? Why are some people scared about this?
ETA: saw Jon K reply to a question on Twitter about this: "I can’t figure out why people are thinking that way. League wants to expand to Seattle and Vegas, not move there. And Twin Cities is a great market. Doesn’t make sense to move."https://x.com/JonKrawczynski/status/1798922402275164285?t=HPfqCm_NAHt5P6zSYDThxQ&s=19
by ComputerPractical748
17 Comments
Because Minnesotan’s are pre-miserable and assume the worst.
He came on because arod and lore have plans for that huge stadium village and Minnesota is going to pay for it that’s a huge boost to his pocket book to own a percentage of that. Also pair that with a potential face of the league. The franchise value will only increase. Which is crazy considering how much he is already worth
Also their willingness to pay the tax is 100% to keep the team good so people don’t complain about paying for the village. People would bitch so hard if the team that showed up for the last 20 years was getting a multi billion dollar upgrade, but winning solves everything.
As a wolves fan I’m pumped tbh.
I haven’t seen the moving the team stuff, but I’m definitely against him being involved. I don’t want that sack of shit anywhere near anything that I love. I wouldn’t trust that asshole to microwave a bag of popcorn for me. I genuinely don’t understand why anybody on this sub is for this shit. This is legitimately a worse development than Glen renegging on the deal.
Mike Bloomberg is a lying peice of shit, but I guess you’ll all find that out soon enough, because none of you fucking have eyeballs apparently.
I think the only move the Wolves make is to the Eastern Conference.
I think in generals sports franchises will be moved almost never going forward. Most top markets in most sports are now taken
People who enjoy MN sports teams are by nature masochist. This is just another form of them expressing it.
Flyover chip on the shoulder.
It’s the same idiots who assume every piece of news means the team is moving.
Yeah, moving the team wouldn’t make sense anymore. Only Seattle and Vegas could be considered better spots, and the League wants the expansion purchase money. That ship has sailed.
Because in our lifetimes, we have watched the North Stars* move under complete surprise/cover of darkness and the Twins under the threat of contraction. We’ve also had nothing but heartbreak in over 30 years of sports fandom here.
Can’t fix stupid
“Top 15 fan base with a great fan base and sell out crowds” 😂 I don’t think I’ve ever heard those words to describe the Timberwolves fan base
Because people are stupid.
Yeah, let’s build out a local TV infrastructure so we can move the team to Queens.
What your missing is we already went through the “give us a stadium or we will move” with the Vikings. The NFL didn’t care about losing “a top 15 market”
I’m from Sioux Falls, SD and I am a Lakers fan, but I come to Timberwolves games a lot, hope they don’t move the team. But I’m a Twins and Wild fan.
Like you say, their financial partners aren’t tied to Minnesota. The investment firms out of LA and Hong Kong, or Bloomberg out of NYC don’t care if the team is in Minnesota or not. That is the ONE thing that you could say about Glen Taylor. Born and raised and lived in Minnesota. He’s not flying in on a private jet to catch a game and being back home in Miami for the weekend.
As for the market, this is NOT a top 15 market for basketball revenue. People size, sure. But engaged fans, spending, etc… nope. They are actually 16th in market size after Puerto Rico. Same reason there, the engagement and influx of cash in that market is not comparative to their size thus no team. Washington DC market is bigger than Boston. Detroit’s is bigger than Miami. Those smaller markets make 100 million more than the bigger ones in those examples per year because they have higher local engagement and overall revenue. Don’t forget, Minneapolis/St Paul ranks 64th out of the 66 largest downtown areas in the US in economic recovery post-covid (only Louisville and St louis are behind. Vegas ranks 1st FYI).
The Wolves ranked 29th in revenue last year. Yes, they sell out with buy 3 pizzas and get 2 free tickets. Yes, they are selling out playoff games like any team. No, even with a run of success that’s not likely to move the needle too much (see SA, OKC, Orlando, etc in the past with good runs). I’m sure they can move up 5 or so spots, but there’s not a whole lot separating those bottom teams. The teams that if they go into the luxury tax are in the red.
Now you’ve made abundantly clear… this is about making money. The value of the Raiders in the NFL went up 46% in a single year by announcing they were moving to Las Vegas. THAT is where they make money. In Vegas, a dinner at Arby’s isn’t getting you free tickets to an NBA game.
Yes expansion makes sense. But if you are other owners… would you rather invite two more mouths to the table to take a piece of your pie, or take two of your lowest earning teams and make them high earning teams?
One, you get a smaller cut now split 32 ways. The other, you take your lagging performers and make them leading ones and still only have to share with 30 owners.
*Isn’t it part of the terms of the sale they can’t move the team?*
That’s the big question. The same person who said A-Rod wants to get the team under the luxury tax said he did. I’ve not seen myself what that contract stipulates. Have you? Do you believe Glen then, that the new owners want to break the roster up and cut costs to get under the tax as well?