Marc Lore and Alex Rodriguez held their first press conference since taking over as the majority owners of the Timberwolves and Lynx on Friday in Las Vegas, the site of NBA Summer League.
The two delivered statements and fielded a number of questions from local and national media members alike.
Here are a few things that stood out:
Roster building
Lore and Rodriguez were specifically asked Friday about “new owner syndrome” — a made-up disease in which new sports owners make unwise decisions out of haste shortly after purchasing a franchise.
But the new ownership duo thinks it’s well positioned to avoid such an error, partly because they’ve been around the organization for years now amid the ownership transition. They already made a splash with the hiring of Tim Connelly as Timberwolves president of basketball operations and were proponents of the Rudy Gobert trade.
And they don’t feel a need for any more fireworks in the near future just in the name of shaking it up.
“We’re being very methodical about the decisions we make,” Lore said. “We’re thinking, in every decision, what’s in the best interest of the long-term, sustained culture of winning?”
That’s not an easy thing to achieve in today’s NBA given the new, strict salary-cap rules. But Lore and Rodriguez have plans for how to navigate the waters.
Rodriguez spoke of the value of continuity, which he called one of the “arbitrages” of the league. But keeping a team together likely requires paying a luxury tax, perhaps even a hefty one. Lore claims they’re fine with that, likening that investment to the financial losses startup companies endure early in their building process.
“Because it’s creating enterprised value over the long term,” he said. “And I think that’s the way we think about it. Investing in the team, in winning, creates long-term franchise value. And it’s not over the next three to five years, but 10, 20, the next 50 years even. We’re prepared to invest, we’re prepared to lose money to create a winning culture, a sustainable winning culture.”
A new arena
Rodriguez noted that new, upgraded arenas may have been vanity features back when he was playing in Major League Baseball. But he no longer feels as though that’s the case.
“Today, it’s a necessity,” Rodriguez told reporters. “If you want to compete at the level we want to compete, year in and year out, a new arena is what our fans deserve.”
Lore and Rodriguez are in the “very, very early stages” of a plan to get a new basketball arena in Minneapolis to replace an aging Target Center.
“Talk about community service,” Rodriguez said, “an arena is an anchor to the community.”
KG comeback?
Kevin Garnett is, as Lore put it, “the GOAT (greatest of all time)” in the Timberwolves organization. But Garnett’s presence within the franchise has waned significantly since the passing of Flip Saunders, as Garnett and Glen Taylor’s relationship was frequently sour.
Will the entrance of two new majority owners pave the path for Garnett’s “return” to the Timberwolves in some capacity?
“We have a tremendous amount of respect for KG and everything he’s accomplished, and we would love to get closer to him,” Lore told reporters. “We know the fans want to see that, and we want to see that, too.”
Added Rodriguez: “Anything that’s important to our fan base is going to be important to us. Obviously, he means a great deal to our fan base, and Marc and I are going to be working on that.”
New ticketing system
The Timberwolves and Lynx announced a multi-year agreement with Jump — a ticketing company founded by Lore and Rodriguez.
The team’s release described Jump as “the only unified fan experience and ticketing platform purpose-built for professional sports teams.”
Fans using the app will be able to purchase and manage tickets. And, in an interesting new feature, Lore said fans in the lower bowl — even sitting courtside — can put up their tickets for auction if they’re leaving a game early, and other fans in the arena can purchase them for a discounted price to move closer to the action.
“As a startup founder, it’s all about innovation, it’s about being disruptive and not doing things the conventional way,” Lore said. “We’ve got a clean slate here to rethink how things are done, not just accept how they’re done. We have big ideas on how to innovate, how to do things in a way that will separate us from others.”
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