Imagine buying a company, only to have the seller try to change the rules of the game right before the finish line. That is exactly what is happening with the $1.5 billion sale of the Minnesota Timberwolves, and the fallout is a cautionary tale for any business owner.
Most people see a sports headline; we see a lesson in the risks of phased buyouts and the danger of leaving the “final” steps of a deal open to interpretation. In this video, we go behind the scenes of the battle between Glen Taylor and the Rodriguez/Lore group to show you how slow-motion deals can invite massive power struggles if every deadline and requirement isn’t clearly defined and strictly followed.
Whether you’re eyeing an exit strategy or looking to acquire your next competitor, Chris uses the chaos of the NBA to show you how to protect your own equity. You’ll see how tailored business structures are meant to allocate risk fairly—and what happens to your recourse when the fine print is left open to interpretation. Even if you aren’t buying a basketball team, the legal mechanics at play here are the same ones you rely on to keep your business safe and your partners accountable.