Latest news with #GlenTaylor
Yahoo
17-07-2025
- Business
- Yahoo
Envoy Medical Draws Final $5 Million From GAT Funding
Envoy Medical, Inc. (NASDAQ:COCH) is among the . Envoy Medical, Inc. (NASDAQ:COCH) has disclosed that it has tapped into the remaining $5 million of principal available under its promissory note with GAT Funding, LLC, which is under the control of Glen Taylor, who happens to be a part of the company's board of directors. As the conditions of the additional draw, Envoy Medical, Inc. (NASDAQ:COCH) issued GAT Funding a warrant to acquire 750,000 shares of its Class A Common Stock, with an exercise price of $1.48 per share. This price is the same as the closing price of the stock on the date of the draw. A medical laboratory technician using the latest equipment and technology preparing a sample for testing. The shares associated with these warrants were issued via a private transaction based on exemptions from registration under Section 4(a)(2) of the Securities Act of 1933 and Rule 506 of Regulation D. In other news, Envoy Medical, Inc. (NASDAQ:COCH) has secured two new U.S. patents for its implantable hearing technology. There's a good reason to believe that the company has a long way to go. Envoy Medical, Inc. (NASDAQ:COCH) is a Minnesota-based hearing health company that offers medical technologies across the hearing loss spectrum. Founded in 1995, the company is committed to transforming the hearing industry. While we acknowledge the potential of COCH as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . While we acknowledge the potential of COCH to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than COCH and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-07-2025
- Sport
- Yahoo
Timberwolves looking to embrace their legacy ... specifically Kevin Garnett
LAS VEGAS — Kevin Garnett's jewelry and validation as a champion came from the Boston Celtics, but he made his name as 'The Kid' and later became a superstar with the Minnesota Timberwolves. He's mostly associated himself with being part of Celtics lore and not with the Timberwolves because of his estranged relationship with the franchise and most notably outgoing owner Glen Taylor. Advertisement But with Alex Rodriguez and Marc Lore finally winning their battle with Taylor for control of the franchise, getting Garnett back into the fold is among their priorities. 'We would love to course correct that, because he's so important to our franchise, to that community, to the history of Timberwolves,' Rodriguez said to a small group of reporters, including Yahoo Sports, at a gathering inside Thomas & Mack Center, an hour after being formally introduced as the new stewards of the franchise. Garnett had two stints with the Timberwolves, first being drafted straight out of high school in 1995 before being traded to Boston in 2007, and then returning as a veteran presence for his final two seasons (2014-16). It was believed Garnett's return in 2014 would come with a minority stake in the franchise and perhaps a front-office position, but it never materialized, and Garnett, aside from being part of a group to make a bid on the team in 2021, hasn't associated himself with the Timberwolves. No jersey retirement, no special honors for the man who owns nearly every important Timberwolves record. No return home for the man who won the 2004 MVP and had many MVP-worthy years holding up an underachieving franchise. Advertisement Rodriguez pointed out Garnett's beef is with Taylor and not with himself and Lore. 'We don't have to really bridge much, because we have a wonderful relationship with Kevin, and we have a lot of respect for him, and he has great people around him,' Rodriguez said. "If it's important to our fan base, it's going to be important to Mark and I.' During the playoffs, the Timberwolves' game-night staff showed a hype video of Garnett as a youngster, imploring the crowd to get up and cheer — before the start of a fourth quarter. If the fans' reaction to seeing an old video of Garnett on the Jumbotron is any indication, it feels very important to them. Rodriguez, one of Major League Baseball's all-time greats, harkened back to his time as a New York Yankee and seeing Yogi Berra, Reggie Jackson and Willie Randolph at spring training every year. Advertisement The story of the Yankees franchise can't be told without those names, and that connective tissue helps players understand who they're playing for and the standard they're expected to uphold. 'George Steinbrenner [late Yankees owner] understood that you're playing for more than just the name on the back,' Rodriguez said. 'There's a responsibility that comes with that pinstripe [jersey] and the legacy connectors are so important. So we're going to try to do the same thing here.' Anthony Edwards is the torch-bearer, but in 36 years Garnett has stood above and beyond over other Timberwolves stars like Karl-Anthony Towns, Kevin Love and Tom Gugliotta. During a 10-year stretch (1998-2007) Garnett averaged 22 points, 12.2 rebounds, 4.9 assists, 1.7 blocks and 1.4 steals. That type of excellence at his position was only matched by the likes of Tim Duncan and Dirk Nowitzki — players who are synonymous with the San Antonio Spurs and Dallas Mavericks, respectively. Advertisement Rodriguez hopes to initiate an alumni program of sorts, similar to the New York Knicks' 'Always a Knick' slogan that has them recognizing so many players who've played for the franchise — even if only for a year, even if the time itself wasn't memorable. From the outside it feels like there's a warmth from the Knicks to their former players, Charles Oakley aside. Rodriguez even said he's 'jealous' of how the Knicks honor those players. 'We've had some incredible people come through this franchise, and it's heartbreaking they're not around,' he said.
Yahoo
07-07-2025
- Business
- Yahoo
Official: NBA Owners Approve Sale of Minnesota Timberwolves
It's been a long road to get to this point, but after some chatter recently that the vote was finally coming, the news went official late Tuesday afternoon. The sale of the Minnesota Timberwolves from Glen Taylor to Marc Lore and Alex Rodriguez has been approved by an NBA owners. Minnesota Timberwolves sale to Marc Lore and Alex Rodriguez approved by NBA Owners According to the both the team and league's press release, the newest members of the NBA's exclusive owners club will serve as Timberwolves Co-Chairmen, with Lore serving as the organization's primary 'Governor' and A-Rod as 'Alternate Governor'. Of note, the two will swap roles, when it comes to the WNBA's Lynx. As the new controlling owners, Lore and Rodriguez will assume full leadership responsibility for the Timberwolves, Lynx and Iowa Wolves (G League). They will serve as Co-Chairmen, with Lore assuming the role of Timberwolves Governor and Rodriguez as Alternate Governor. For the Lynx, Rodriguez will serve as Governor while Lore will act as Alternate Governor. This milestone, made official by the NBA's Board of Governors' approval, marks the culmination of the gradual transfer of ownership from longtime General Partner Glen Taylor. Minnesota Timberwolves press release We do not yet know exactly what the vote count was, but Darren Wolfson (KSTP) reported on SKOR North Tuesday that, if the vote didn't wind up being unanimous, it's possible Glen Taylor would get one 'No' vote, to Lore and A-Rod taking over, likely by the Pacers. Advertisement Lore + A-Rod partnership remains very strong What stands out about today's news isn't the approval, itself. Instead, it's how included Alex Rodriguez is in the announcement. We know Lore has been committed to A-Rod as the public face of this new ownership group, but it's believed that Marc owns by far the largest share of anyone. Still, the way this is being relayed… it's being made very, very clear that — no matter what his ownership percentage is (which isn't exactly clear at this point) — he will remain at the forefront of every decision this new group makes. Over the past four years as limited partners, Lore and Rodriguez have championed a forward-thinking, long-term vision focused on establishing the most respected and admired franchises in professional sports. Their approach prioritizes investment in high-character individuals, business innovation, player development, and best-in-class fan experiences—while maintaining a steadfast commitment to the Twin Cities community. Minnesota Timberwolves press release Related: Timberwolves Open to Moving Up in NBA Draft This ends a 31-year run of ownership for Glen Taylor. The officially soon-to-be former owner bought the franchise in 1994, essentially saving an NBA franchise that had nearly been sold to a group wanting to move the team to New Orleans just months earlier. Advertisement Of course, by the time he sold the Minnesota Timberwolves — then spent years fighting to get it back — he overstayed his welcome with most of the fanbase. From under-the-table deals gone wrong to hall of fame former players that want nothing to do with the organization… Taylor's time had come and gone long ago. Now, Marc Lore and Alex Rodriguez will strive for a new arena somewhere in the Twin Cities. How much they are willing to pay will likely dictate how successful they are in making that dream come true. Either way, there is pretty much zero chance the Timberwolves are moved out of Minnesota now, or anytime in the future. Related Headlines
Yahoo
05-07-2025
- Business
- Yahoo
The New Timberwolves Owners Want To Honor Kevin Garnett
The New Timberwolves Owners Want To Honor Kevin Garnett originally appeared on Athlon Sports. After a long and rocky relationship with former Minnesota Timberwolves owner Glen Taylor, Kevin Garnett looks to be in good spirits with the new owners, Alex Rodriguez and Marc Lore. Advertisement This is a welcome change for the Timberwolves, as Garnett is arguably the greatest player in franchise history. The rocky relationship was a bad look for the organization, especially Garnett's love for the franchise and its fans. Credit: Brace Hemmelgarn-Imagn Images Garnett is one of the most beloved players in Timberwolves history. He cemented himself as the best player since he was drafted in 1995, and when he was traded in 2007. He won the MVP award in 2004 and led the team to the Western Conference Finals in the same year. That was the Timberwolves' furthest run in the Playoffs at the time, cementing Garnett as an all-time great with the team. Advertisement Related: Timberwolves President Tim Connelly Gets Full Support From Rodriguez And Lore The New Owners Want Garnett To Be Involved While some people might see Garnett as far away from the Timberwolves organization. He still supports the team whenever he can. Some might see him as a Boston Celtics legend, but he never forgot his roots as a Timberwolves superstar. The relationship between the Timberwolves organization and Garnett has been strengthened with this new ownership group. That is a huge positive, as Garnett did not have the best relationship with Glen Taylor and the previous administration. Advertisement Now, the Timberwolves are back with Garnett, and they are looking to get the most out of their time together as partners. "I would say good chance there has been dialogue. Certainly, A-Rod and Lore as well. A-Rod recognizes the importance of repairing that relationship. Behind the scenes, there's already been work done," KSTP's Darren Wolfson said about the Timberwolves and Garnett. With this new dynamic, it opens the door for a working relationship. That could be a spot within the team as a consultant or just as a passionate Timberwolves fan, like what the Indiana Pacers have with Reggie Miller. Advertisement The Jersey Retirement Will Come Soon A big talking point with Garnett over the years is that the previous ownership group did not retire his jersey as soon as possible. That will not be the case for the new owners, as they will do their best to resolve that issue. Garnett's jersey will be retired soon, and the new owners will do their best to do it as quickly as possible. They want to honor their legends, and having that #21 in the Target Center rafters would be great for the franchise. Honoring a legend like Garnett is important, and it shows that the Timberwolves will take care of their legends beyond their retirement. Garnett should be ready to accept the honor, and everyone will be pleased to see him being celebrated. Advertisement Related: Garnett Gives His Take On The New Timberwolves Owners This story was originally reported by Athlon Sports on Jul 5, 2025, where it first appeared.
Yahoo
29-06-2025
- Business
- Yahoo
Ex-MLB star Alex Rodriguez, owner group finalize complex Lynx, Timberwolves sale
The post Ex-MLB star Alex Rodriguez, owner group finalize complex Lynx, Timberwolves sale appeared first on ClutchPoints. In April, former MLB player Alex Rodriguez finalized a deal to become part owner of the Minnesota Timberwolves and Minnesota Lynx. Advertisement On Wednesday, the sale of both organizations from Glen Taylor was officially approved by NBA governors, per ESPN. In all, it was the culmination of a process that was four years in the making. Overall, the sale was worth $1.5 billion. Rodriguez, in partnership with e-commerce aficionado Marc Lore, will serve as co-chairman of the board. Lore will serve as the governor of the Timberwolves, and Rodriguez will be the alternate governor. Conversely, Rodriguez will be the governor of the Lynx, and Lore will be the alternate governor. 'We fully recognize the great responsibility that comes with serving as stewards of these exceptional franchises,' Lore said in a statement. Advertisement In addition, Lore emphasized his expectations and plans for the future. 'We are committed to building an organization that sets the standard for excellence, is universally admired, and rooted in pride that spans generations.' Furthermore, Rodriguez offered his statement. 'I've dedicated my entire life to the world of sports, not just as a game, but as a powerful force that unites people, uplifts communities, and changes lives,' he said. Subsequently, he made a bold declaration about his intentions going forward. 'I'm incredibly honored and energized to roll up my sleeves and get to work. I know what it takes to be a champion, and I'm ready to bring that same commitment and drive to create a winning culture in Minnesota,' he said. Advertisement An introductory press conference will be held during the NBA Summer League in Las Vegas in July. The journey to become owner of the Lynx and Wolves In 2021, Rodriguez joined forces with Lore to purchase the teams from Taylor. The deal allowed for incremental payments as well as for Taylor to maintain ownership until the deal was done. Along the way, Rodriguez and Lore encountered some hurdles. In March 2024, Taylor attempted to cancel the sale, leaving Rodriguez and Lore in the lurch. They ended up missing the payment deadline. As a result, they declared for arbitration. Ultimately, Rodriguez and Lore were granted arbitration in February. Related: Lynx star Napheesa Collier gets final injury status for Mystics game
