Hooped Up

The National Basketball Association’s (NBA) Board of Governors has voted unanimously to approve the purchase by Michael Jordan of a majority interest in Bobcats Sports & Entertainment (BSE).

The investment gives Jordan a controlling interest in the companies that operate the NBA’s Charlotte Bobcats and Time Warner Cable Arena, located in uptown Charlotte. After a Hall of Fame career, Jordan is the first former player to become the majority owner of an NBA team.

“Purchasing the Bobcats is the culmination of my post-playing career goal of becoming the majority owner of an NBA franchise. Read More »

So apparently, the ground breaking ceremony for the Atlantic Yards and the $3.5 billion Barclays Center in Brooklyn where the Nets will call home in 2012 doubled as temporary comedy club for rich up and coming laugh engineers on the NYC comedy scene. Brooklyn Borough President Marty Markowitz, Nets owner Jay Z and even New York Governor David Paterson used the event to test drive their new comedic material.

Jay Z definitely had the best timing with his jokes, Marty Markowitz was way too eager to do his Beyoncé routine and David Patterson was well — David Patterson-ish with his delivery as you’ll see. Read More »

Michael Jordan, arguably the greatest player in basketball history, has reached a deal to buy an NBA franchise.

Mr. Jordan has agreed to buy a majority interest of the Charlotte Bobcats from Robert L.Johnson, the team’s majority owner, according to a statement released by Mr. Johnson Saturday. The deal is subject to league approval.

Terms of the deal weren’t disclosed, but the sale price is based on a franchise value of less than $300 million–”in the mid-to-high twos,” said a source familiar with the matter.

Wall Street Journal

The nine-month saga that is the sale of the Charlotte Bobcats could be resolved in the next three days, possibly today.

Sources close to the situation anticipate a quick resolution, as to whether Bobcats managing partner Michael Jordan or ex-Houston Rockets president George Postolos will close a deal with majority owner Bob Johnson.

Jordan’s window of first-refusal to buy the team is close to expiration, sources say, and he was still recruiting partners this week to invest $260 million or more to complete a purchase of Charlotte’s NBA franchise.

Jordan has repeatedly declined interview requests on his effort to buy the team.

Charlotte Observer

You already knew the Lakers were richer than you, but now they’re more valuable than every other NBA franchise in the league according to Forbes too. The Knickerbockers who occupied the top spot last year and the four previous seasons also, are now ranked No. 2 on the Forbes list and 12 team reportedly lost money last season.

Owned by Jerry Buss, the Lakers were appraised at $607 million, up 4 percent from last year and the New York Knicks owned by Cablevision Systems are valued at $586 million, down 4% from last year. Read More »

On Allen Iverson night, Mark Cuban hosted WWE RAW and some dude named Sheamus (aka The Celtic Warrior) with a fantastic lemmy beard who I assume was still pissed off about France’s handball victory. Took exception to a peacock chested Mark Cuban and did what the SEC would like to do — send Cuban through a table.

Best NBA owner, EVER!

Mark Cuban hosting WWE Monday Night RAW next week is hardly a side show, because practically everything this dude does is a side show. Him getting in the squared circle with Cody Rhodes on the other hand, would be the Zenith of cool as far as NBA owners go.

Last year, Mark Cuban feuded with Kenyon Martin’s mom. Next up: Dusty Rhodes’ son? The Mavericks’ owner, who will host World Wrestling Entertainment’s RAW on Monday at American Airlines center, shrugged off a challenge by up-and-coming WWE star Cody Rhodes on Thursday. Rhodes is the son of Austin-born Virgil Runnels, better known as WWE Hall of Fame wrestler Dusty “The American Dream” Rhodes.

All I know is If somehow Dusty “”The Bull of the Woods”" Rhodes makes an appearance and drops a Bionic elbow on Cuban. I’ll be in wrastlin’ heaven.

via Dallas Morning News

In the wake of Washington Wizards ower Abe Pollin passing away, Ted Leonsis could takeover the team.

For nearly a decade, a plan has been in place to ensure that the Washington Wizards remain locally owned. Washington Capitals owner Ted Leonsis holds the right of first refusal for any transfer of ownership.

Under the plan, Leonsis likely will take over majority ownership of Washington Sports & Entertainment, which includes the Wizards, Verizon Center and the area’s Ticketmaster franchise.

If Leonsis takes over the Wizards, he would become the only person with majority ownership of an NBA, NHL and WNBA team plus a major sports arena. If he somehow bought the Redskins too, D.C. folks wouldn’t complain.

via Washington Times

Abe Pollin, 85, the Washington sports entrepreneur who owned the Wizards basketball team and the Capitals hockey team, died Tuesday. Details on where he died and the cause of his death were not immediately available. He reportedly had a rare brain disease.

Pollin was among the last of the old-school pro sports owners who ran his teams as a family business, shaped by his strong personality and his intense loyalties. His teams lost more than they won, and fans often criticized his personnel moves and his failure to spend more money, but Pollin invariably remained set in his ways.

Washington Post

Mr Allen, 56, has non-Hodgkin’s lymphoma, CNET News and other news sites reported, quoting a letter from his sister, Jody.

“He received the diagnosis early this month and has begun chemotherapy,” Ms Allen said in the letter to employees of her brother’s company, Vulcan.

“Doctors say he has diffuse large B-cell lymphoma, a relatively common form of lymphoma,” said Ms Allen

“Paul is feeling OK and remains upbeat. He continues to work and he has no plans to change his role at Vulcan.”

Mr Allen, who left Microsoft in 1983, was treated for Hodgkin’s disease around 25 years ago and Ms Allen said he was optimistic he could beat again.

The Telegraph