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Thomas Likely to Own 10% of New Team

May 24, 1994

TORONTO — Isiah Thomas, long-time superstar of the Detroit Pistons who retired recently, is expected to become one of the few substantial minority owners in pro sports with an estimated 10% share of the new Toronto NBA franchise.

According to Times' sources, the announcement of Thomas' new position with the Raptors will be made as early as today.

The sources said Thomas would play an active daily role in the administration of team activities. The Detroit Free Press reported he would be the team's vice president of basketball operations. The sources also said that, while the percentage of ownership might not be exactly 10%, it would be very close to that.

The development comes at the same time that long-time Thomas rival Magic Johnson and a group failed in its bid to buy the Minnesota Timberwolves, who were sold to a New Orleans group.

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