BET's Johnson Makes Bid for Hornets - Multichannel

BET's Johnson Makes Bid for Hornets

Author:
Publish date:

Black Entertainment Television chairman and CEO Robert Johnson Wednesday made
public his interest in purchasing the Charlotte Hornets National Basketball
Association franchise, but franchise owners said the team is no longer for
sale.

In an interview with The Charlotte Observer, Johnson said he's made a
formal offer to Hornets co-owner George Shinn to purchase the franchise and keep
it in Charlotte, N.C.

Shinn and co-owner Ray Wooldridge are planning to move the team to New
Orleans, pending approval from league owners.

While Johnson wants to be the majority owner of the team, he said he would
also look to offer equity in the team to Charlotte-area partners.

But Shinn rebuked Johnson's offer, saying that the team is not for sale,
according to the Observer.

Johnson could not be reached for comment on the matter.

Johnson -- who sold BET to Viacom Inc. for $3 billion in 2000 -- also failed
in bids for ownership of the league's Washington Wizards, as well as the
Continental Basketball Association.

Related