Rapper purchases stake in NBA franchise

Updated: July 20, 2004, 8:24 AM ET
ESPN.com news services

CHARLOTTE, N.C. -- Rapper Nelly is a part-owner of the NBA's expansion Charlotte Bobcats.

"This is a great opportunity for both the Bobcats and Nelly," Robert L. Johnson, the team's majority owner and the founder of Black Entertainment Television, said Monday in a news release. "Nelly is a great entertainer and a smart businessman and those two traits will serve us well as we prepare to tipoff our inaugural season this fall."

Financial terms of the deal were not disclosed.

Nelly, ...

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