Suns to announce new ownership

The Phoenix Suns have scheduled a press conference for Noon on Friday, in which Suns Chairman, Managing General Partner and CEO Jerry Colangelo will make a major annoucement.

ESPN.com reports:

PHOENIX -- The Phoenix Suns are expected to be sold to a new investment group next week, one of the team's current investors said Thursday.

The new group would pay more than $300 million for the team, with Jerry Colangelo remaining as head of the franchise but not as an owner, the investor said, speaking on the condition of anonymity.

"It is a very attractive offer. I don't see any stumbling blocks whatsoever," said the investor, who also plans to be part of the new ownership group.

So I suppose the only surprise will be the individuals who are shelling out $300 million for the Suns. Any ideas? Given Stern's recent comments, I wouldn't be too surprised if that famous basketball player who used to wear number 23 is part of the group.

Yep, i read an article like 1 or 2 months ago saying something about Michael jordan being afficialated (spl) with the Suns in some way... can't remember exactly... but it all links up... so it wouldn't suprise me either Andrew.

I dunno whether it's good or bad though.