Denver Nuggets owner Sidney Shlenker canceled a...
Denver Nuggets owner Sidney Shlenker canceled a proposed sale of the National Basketball Assn. team to two Chicago businessmen who were in line to become the first black owners of a major league sports franchise.
Shlenker said he was allowing the contract for the sale to Peter Bynoe, 38, and Bertram Lee, 50, to expire. The investors planned to buy the club for $65 million but missed at least two deadlines for completing the deal. The sale would still have been pending final approval by the NBA.
Shlenker said Pete Babcock would resume his duties as president of the team and Bob Barland would remain as executive vice president of finance.
Get our high school sports newsletter
Prep Rally is devoted to the SoCal high school sports experience, bringing you scores, stories and a behind-the-scenes look at what makes prep sports so popular.
You may occasionally receive promotional content from the Los Angeles Times.
