PALM BEACH, Fla. -- Michael Jordan, acknowledging he has much to learn about
hockey, was unanimously recommended by the NHL's Executive Committee on
Tuesday as a partner in the group that owns the Washington Capitals. The
issue awaits final approval through a vote by the NHL's Board of Governors,
which is expected within the next month or two.
Once the transaction is completed, the NHL will have three superstar
athletes as owners, with Jordan joining Wayne Gretzky and Mario Lemieux.
The NHL introduced Jordan Tuesday after the basketball great met with
the NHL's executive committee at the league's meetings.
"I get to learn another game," said Jordan, who is president
of basketball operations for the NBA's Washington Wizards. "A lot
of my friends are hockey players. I have a good understanding for
the game. My kids are hockey players. They play basketball, too."
Ted Leonsis, majority owner of Lincoln Holdings and chairman of
the Capitals, added Jordan as a partner on Jan. 19, 2000. He did
not reveal the percentage of Jordan's ownership in the team, though
it is thought to be about 12 percent.
"It's a substantial position," Leonsis said.
In addition to owning the Capitals, Lincoln Holdings holds a 44
percent stake in Washington Sports and Entertainment, which
oversees the NBA's Washington Wizards, WNBA's Washington Mystics,
MCI Center, US Airways Arena and the Washington/Baltimore
TicketMaster.
"Michael actually owns more of the Capitals than he does the
Wizards," NHL commissioner Gary Bettman said.
On Monday, the NHL approved the sale of the Phoenix Coyotes to
an ownership group that includes Gretzky. And Lemieux, the
Pittsburgh Penguins' owner, announced he was returning as a player
at 35.
"Mario and I are very good friends," Jordan said. "He
actually notified me a week ago of his announcement. I support
that. Obviously, he has a love for hockey like I do for basketball.
We all wish him well, except when he's playing our team."
Jordan also has developed a close friendship with Gretzky.
"It's definitely going to be competitive," Jordan said of his
dealings with Lemieux and Gretzky.
"They have an advantage because they understand the game a
little better than me. We enjoy having the opportunity to play
professional sports. We want to make that part of our business, and
goals," he said.
"The Executive Committee and Michael had a good session, not
unlike interviewing Wayne Gretzky yesterday, and it is part of our approval
process," Bettman said of Tuesday's announcement. "It is an essential ingredient to being done if you have a
double-digit ownership interest in the committee, and it was no surprise to
me, unanimously recommended having the transaction approved. And my guess
is in the next couple of weeks, we'll do it by fax, or by worst case, we
do it at the All-Star Game. It's a question of how we deal with the
procedure."
Jordan, in his ownership role with the Capitals, will deal with
escalating player salaries.
Asked for his reaction to the Alex Rodriguez's $252 million
contract with the Texas Rangers, Jordan said: "It's a lot of
money, although I have a sensitivity for players to utilize their
leverage to the best of their knowledge. ... The business of sports
is growing. It arises a lot of concerns. I'm happy for A-Rod. But
it's up to the owners to pay them."
Rising salaries is also a concern for the NHL.
"The economics of our sport couldn't support a fraction of that
contract," Bettman said.
Information from The Associated Press was used in this report.
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