Hopefully the photo is not mis-leading in any since, but Nelly is irrelevant in this column I'm doing, with all due respect. But in this photo, is Bob Johnson(Johnson, who founded BET and sold it to Viacom for $3 billion in 2001, announced that he had been looking for someone to buy the Bobcats earlier this year.) to the left in the gray suit, and as we all know Micheal Jordan to the right in red.(good for Nelly to be in a position to be sitting next to these two powerful men, but he's still irrelevant to the story)
If you've followed this story, I'm sure you will then be aware of the long process it took to establish this transaction. Johnson recently finalized a "definitive agreement" to sell majority interest of Bobcats Sports and Entertainment to Michael Jordan and MJ Basketball Holdings, LLC. The deal is subject to NBA approval. Jordan has overseen the team's basketball operations in recent years, and has a great valued interest in the success of this team. This was a good deal and shows the magnitude of how good business is done amongst the African-American community.
F.Y.I Details on the purchase price were not available. But we're talking about a multi-million dollar deal...!!!
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