Two brothers in Miami buy a stake in the Bobcats franchise

Discussion in 'Charlotte Hornets' started by Accord, Apr 29, 2004.

  1. Accord

    Accord JBB JustBBall Member

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    <div class="quote_poster">Quote:</div><div class="quote_post">In a far-reaching business deal, the de C?spedes brothers, owners of a huge Miami hospital supply business, announced they're buying a large minority stake in the new Charlotte Bobcats basketball team while establishing a nationwide medical supply firm in partnership with Robert L. Johnson, majority owner of the Bobcats.

    The brothers refused to put a dollar figure on the transaction for the National Basketball Association team, which begins play next fall, ''but it had a number of zeros after it,'' said Carlos de C?spedes, the elder brother and chief executive of Pharmed, one of the largest Hispanic businesses in America with $600 million in annual revenue.

    ''I'm delighted,'' said Johnson, who made his fortune as the founder of Black Entertainment Television. ``We share a lot in common.. . . We're both minority Americans who have dreamed the American dream.''

    As part of the deal, Johnson will become minority shareholder in a new Pharmed holding group, which will open flexible service centers offering hospital supplies in up to nine cities nationwide, starting with Charlotte and Washington.</div>

    More here: http://www.miami.com/mld/miamiherald/85502...iiijilpl|John|Y
     

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