George Postolos’ bid to become an NBA owner was foiled late last night as Michael Jordan rallied investors to become majority owner. But that doesn’t mean the Texas businessman (and former Rockets CEO) is done with his ownership pursuits.
In a statement to the pres (via the Charlotte Observer), Postolos said:
“I remain committed to becoming an NBA owner, and I’m
glad that Michael will continue to bring his talent to the sport and
So even with Charlotte locked up, Postolos may become involved in other ownership opportunities, which given the economic environment, may be plentiful. Postolos has already shown a willingness to invest in smaller markets. With teams like Milwaukee and others bleeding money, there will be opportunities. And if Postolos is willing to keep the team in its current location, situations like Memphis (with its considerable penalties for breaking a lease with Memphis’ arena, FedEx Forum) may come available.
Keep your eye on the Postolos group as the ownership situation in the NBA continues to fluctuate.