Jordan soon to get reins of Bobcats
March 12, 2010 by owner
Filed under Business, North Carolina News, Sports
The NBA has signed off on Michael Jordan’s bid to buy the Charlotte Bobcats, and commissioner David Stern expects the league’s board of governors to approve the purchase by the end of next week.
In an interview with The Associated Press on Friday, Stern said he expects the vote to pass “very easily.” Jordan will become the first ex-player to own an NBA team and the second black majority owner. He’ll replace the first, Bob Johnson, who has lost tens of millions of dollars annually.
“He considers himself a North Carolina native and he’s quite anxious to make this team into an important part of the community,” Stern said. “I think he has the capacity and the will to do that. I think he’s the right majority owner at the right time.”
Stern said the league updated its background and financial checks on Jordan and found nothing to stop the deal. Stern said the six-time NBA champion is the sole investor in the ownership group for now, but expects him to try to find local partners.
Jordan is putting up all the cash in the deal, which is for $275 million, less than the $300 million Johnson paid for the expansion franchise that began play in the 2004-05 season.
“I think it’s fair to say he can afford it,” Stern said.
The deal includes taking on more than $150 million in debt, covering future losses and putting millions more in capital to make improvements. The Bobcats are expected to lose about $30 million this season.
Bird & Magic – A Courtship of Rivals
March 10, 2010 by owner
Filed under Entertainment, Media, Sports
Iverson Facing Alcohol, Gambling Issues
Allen Iverson’s wife files for divorce
March 4, 2010 by owner
Filed under Atlanta News, Philadelphia News, Relationships, Sports
A week after the Philadelphia 76ers’ Allen Iverson announced he was leaving basketball for the rest of the season to be with his sick 4-year-old daughter, the star’s wife filed for divorce in Fulton County Superior Court.
In the divorce petition filed on Tuesday, Tawanna Iverson said her 8 ½-year-long marriage to the guard was “irretrievably broken.” In the petition, Tawanna Iverson asked for temporary and permanent custody of their five children as well as child support and alimony.
She did not ask for a specific dollar amount.
The children range in ages from 17 months to 15 years.
The children and their parents have lived in north Atlanta since August, according to the court filing. Before that, the family claimed homes in Rochester, Mich.; Englewood, Colo.; Denver, Colo.; and Villanova, Pa.
On Feb. 22, Allen Iverson and the 76ers announced that he was leaving the team for personal reasons.
The former NBA MVP and four-time scoring champion said he wanted to be in Atlanta to be with his daughter, Messiah, who had an undisclosed illness.
In a posting on Twitter, Allen Iverson wrote: “I need to be there to hold my little girl’s hand and encourage her to get better. I wanted her to wake up every morning and see her Daddy’s face, at least until she got better. Through God’s Strength, She Will Keep Getting Better!”
Keyshia Cole & NBA Star Welcome First Baby Together
March 3, 2010 by owner
Filed under Entertainment, Sports, Washington DC Metro
R&B singer Keyshia Cole and NBA star Daniel Gibson have reportedly welcomed in the birth of their first child together.
According to reports, the birth took place early Wednesday (March 3) morning.
Congratulations go out to singer Keyshia Cole
and her fiance Daniel “Boobie” Gibson! Insiders tell me that just after 1am this morning (March 3rd), Keyshia gave birth to a healthy baby boy, the couple’s first. Gibson, a basketball player with the Cleveland Cavs, was by Keyshia’s side for the birth, which took place in Cleveland, OH. (Miss Info TV)
Arenas not nervous about sentence
March 3, 2010 by owner
Filed under Crime & Law, Sports, Washington DC Metro
As he has done many times in the month of March, Gilbert Arenas took off his shirt in a building full of adoring fans.
This time, though, he was simply changing into a T-shirt with the PETA logo, not removing his Washington Wizards jersey to toss into the crowd on the way to the locker room after a game. Suspended by the NBA for the rest of the season for bringing guns to the locker room, he was giving away used fur coats to women in need on behalf of one of the few groups still proud to be associated with him: People for the Ethical Treatment of Animals.
“I have a lot of free time on my hands,” Arenas said when one of the organizers thanked him for coming.
