Johnson wins NBA team; to be first majority black owner

|By TIM WHITMIRE|
|Associated Press Writer|
CHARLOTTE, N.C. (AP) — Robert Johnson, the billionaire founder of Black Entertainment Television, has been chosen as owner of the NBA’s new Charlotte expansion franchise, The Associated Press learned Tuesday night.
The 56-year-old Johnson will become the league’s first black majority owner, according to two sources familiar with the decision.
The league scheduled a news conference Wednesday in New York.
Johnson and the other group seeking the team, headed by Boston businessman Steve Belkin and Celtics great Larry Bird, made presentations to the league’s expansion committee Monday.
Johnson could not immediately be reached for comment, nor could Belkin.
Forbes magazine estimated Johnson’s wealth at $1.3 billion earlier this year, making him No. 149 on the magazine’s list of richest Americans.
The franchise is to begin play in the 2004-05 season and replaces the Hornets, who moved to New Orleans earlier this year. After one year at the Charlotte Coliseum, the team will move into a new $260 million downtown arena.
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espn is all reporting this News conference scheduled for Wednesday

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Associated Press


CHARLOTTE, N.C. -- Robert Johnson, the billionaire founder of Black Entertainment Television, has been chosen as owner of the NBA's new Charlotte expansion franchise, The Associated Press learned Tuesday night.

The 56-year-old Johnson will become the league's first black majority owner, according to two sources familiar with the decision.


The league scheduled a news conference Wednesday in New York.


Johnson and the other group seeking the team, headed by Boston businessman Steve Belkin and Celtics great Larry Bird, made presentations to the league's expansion committee Monday.


Johnson could not immediately be reached for comment, nor could Belkin.


Forbes magazine estimated Johnson's wealth at $1.3 billion earlier this year, making him No. 149 on the magazine's list of richest Americans.


The franchise is to begin play in the 2004-05 season and replaces the Hornets, who moved to New Orleans earlier this year. After one year at the Charlotte Coliseum, the team will move into a new $260 million downtown arena.

 

fyi: that's still the AP reporting it -- espn uses AP for 95% of their copy.

 

Big Money. Belkin was the better seller but money talks and BS walks.

 

Finally- i'll be able to see what a hoochie mama looks like!!!

Great news, seriously- the NBA is back baby!!

 

Fox News at 10 just reported it to. Used some really nice footage of ML Carr to accentuate the report.

 

Mixed emotions for me. I would have loved to see Larry Bird around town but Robert Johnson has some seriously deep pockets to the tune of 1.3 BILLION dollars of net worth. Unlike Shinn and Wooldridge Johnson probably will look at the Hornets like Cuban looks at the Mavs and pour some money into this team. Shinn sold off alot of his assets to buy out his original owners and looked at the Hornets to make money. So it was bye bye to Eddie Jones, Alonzo, Larry etc..... As Michael Jordan and Johnson are pretty good friends and Jordan doesn't have to buy back into the Wizards when he retires (this time) who knows. He wanted the Hornets before, maybe the second time is the charm. Either way welcome back NBA!

 

Charlotte Observer story

When i left for dinner, it sounded like the break was ours. An hour later, AP and everyone else had it.

So much for sources. Ugh.

http://www.charlotte.com/mld/charlotte/4761263.htm

 

Well from listening to 610 this morning no one seems to be happy with the new owner. What a great start!!! A lukewarm reception, it will be interesting to see how the ticket sales go.

I wonder if Lynn Wheeler still wants to build the arena? One of her sticking points that she kept harping on was that Bird would be an owner. Well Lynn what do you have to say now?

And finally this guy is worth $1.3 billion yet we have to build him an arena? That's messed up.

 

Good point but we are going to have to now. If Charlotte tries to rework the arena deal there will be all kinds of 'issues' flaring.