Lynx, LoRod and Legacy
By Rochelle Olson
Good Friday morning to all. That’s a double entendre today and today only. The Legislature is away so I’ve got time for a long, languid Hot Dish.
Let the speculation revvvv up: Gov. Tim Walz is headed to New Hampshire. He will be the keynote speaker at the McIntyre-Shaheen 100 Club Dinner on April 12 in Nashua, he announced Friday.
Minnesota Lynx owner Glen Taylor, who also owns the Timberwolves and the Star Tribune, is done trying to sell to Alex Rodriguez and Marc Lore (aka LoRod for purposes of this newsletter only). The Strib wasn’t part of the aborted sale but the NBA/WNBA teams were. Like Charlie Brown before him, Taylor has pulled the ball away from Lucy. LoRod says they had the money in place to become majority owners and that Taylor had “seller’s remorse” as the team’s value rose along with other NBA franchises.
In October, Forbes valued the Timberwolves and Lynx at $2.5 billion, $1 billion more than the price Taylor agreed to with LoRod. Not a bad ROI on Taylor’s $88 million purchase in 1994. Read all about it in the story from Chris Hine.
(And no, that’s not merely the Antonomics of baby-faced phenom Anthony Edwards, that’s the NBA continuing to fill arenas and print money.)
Here’s the twist for policymakers: Taylor’s not looking for a new arena soon, he told Patrick Reusse. “I’m OK with Target Center,” Taylor said. “You would always like to see a few improvements, but I don’t see a major problem with the arena for now.”
LoRod was expected to want a new arena soon with more luxe seating options for the high-rollers. I’d already heard serious scuttlebutt about A-Lo abandoning Target Center to whichever suburb offered the biggest fistful of subsidies.