Post by account_disabled on Jan 9, 2024 2:03:20 GMT -6
There are 30 teams in the NBA. Since Michael Jordan sold his stake in the Charlotte Bobcats there are no longer any Black owners who hold a majority stake in any team, but there are 11 Black people who currently hold a minority stake in NBA franchises. Meet the 11 Black NBA owners. As a Black-owned media company, Parle Magazine believes in the power of Black ownership. Since basketball season is well underway, what better way to celebrate than to highlight Black ownership in the NBA?! There are majority owners and minority owners in the NBA but what does that even mean? Click to unmute SportBlurb reported that “minority shareholders do not get much out of the company because the majority shareholders take all the money out in the name of paying themselves salaries and taking loans through the company name.
They also pay themselves bonuses. A minority Phone Number List owner in a sports team plays a significant yet limited role in the franchise’s ownership structure.” Whether someone is a minority owner or a majority owner of an NBA franchise, owning a piece of a sports team is a huge accomplishment and financial investment. It is also a huge responsibility. According to the Bleacher Report, “the fate of every NBA franchise is tied more strongly to ownership than anything else. Success (and failure) really does start at the top.” So, which Black business owners signed up for this exciting undertaking? Here are the 11 Black NBA owners: 1) Jermaine Lamarr Cole aka J. Cole, owner of the Charlotte Hornets Black-NBA-Owners-J.-Cole J Cole fans aren’t surprised by his investment since he has had a passion for basketball for as long as he had a passion for music.
J. Cole played basketball in high school and tried out as a walk-on for the St. John’s University basketball team, in which he nearly made the cut. He also joined the Rwanda Patriots Basketball Club, which was part of the newly formed Basketball Africa League, and played with the Scarborough Shooting Stars in Canada for the 2021-2022 season. 2) Damian Mills, owner of the Charlotte Hornets Damian Mills is the President and CEO of Mills Auto Group. He owns over a dozen car dealerships in multiple states, BlackBusiness.com reported that Mills got his start as an entrepreneur in 2004 when he used his life savings to purchase a Ford dealership in Smithfield, NC. Two years later, he purchased a Chrysler dealership in Fort Mills, SC.
They also pay themselves bonuses. A minority Phone Number List owner in a sports team plays a significant yet limited role in the franchise’s ownership structure.” Whether someone is a minority owner or a majority owner of an NBA franchise, owning a piece of a sports team is a huge accomplishment and financial investment. It is also a huge responsibility. According to the Bleacher Report, “the fate of every NBA franchise is tied more strongly to ownership than anything else. Success (and failure) really does start at the top.” So, which Black business owners signed up for this exciting undertaking? Here are the 11 Black NBA owners: 1) Jermaine Lamarr Cole aka J. Cole, owner of the Charlotte Hornets Black-NBA-Owners-J.-Cole J Cole fans aren’t surprised by his investment since he has had a passion for basketball for as long as he had a passion for music.
J. Cole played basketball in high school and tried out as a walk-on for the St. John’s University basketball team, in which he nearly made the cut. He also joined the Rwanda Patriots Basketball Club, which was part of the newly formed Basketball Africa League, and played with the Scarborough Shooting Stars in Canada for the 2021-2022 season. 2) Damian Mills, owner of the Charlotte Hornets Damian Mills is the President and CEO of Mills Auto Group. He owns over a dozen car dealerships in multiple states, BlackBusiness.com reported that Mills got his start as an entrepreneur in 2004 when he used his life savings to purchase a Ford dealership in Smithfield, NC. Two years later, he purchased a Chrysler dealership in Fort Mills, SC.