Isiah's hoop dreams: former all-star makes bold bid to become first Black owner of an NBA franchise.

Remaining in the background has never suited former NBA "bad boy" Isiah Thomas. During an illustrious 13-year basketball career with the Detroit Pistons, he excelled at the point, pushing the action at a furious pace as he headed for the hoop. Perhaps that's why Thomas is now poised to become the first African American to have a controlling interest of a major sports franchise. Thomas recently signed a letter of intent to purchase majority ownership of the NBA Toronto Raptors, where he currently holds the position of executive vice president of basketball operations.

Other sports celebrities have snared minority percentages of other sports franchises, most notably Earvin "Magic" Johnson, who has an undisclosed percentage of the Los Angeles Lakers, and former Kansas City Chief Deron Cherry, who is a minority owner of the NFL's Jacksonville Jaguars. In 1989, Peter Bynoe and Bertram C. Lee became the first African Americans to have an ownership percentage in a pro sports franchise when they partnered with telecommunications giant COMSAT Corp. to purchase the NBA Denver Nuggets for approximately $54 million. Bynoe, the former managing general partner of the Nuggets, sold his 25% share of the team in 1992.

But in an industry where the hiring of a black coach or general manager is perceived as groundbreaking, the African American ownership of a professional sports franchise is a long-sought goal.

Thomas has owned a 9% share of the franchise since becoming head of basketball operations in May 1994. He entered into negotiations to increase his stake earlier this year when majority owner Allan Slaight disclosed he was interested in selling a large portion of his 81% share of the four-year-old club. Exactly how much Thomas and his investment group, which includes Chase Manhattan Bank and the Canadian Imperial Bank, will own won't be disclosed until the NBA board of governors meets this summer to ratify the transfer of ownership. Thomas hopes the move will give players another plateau to strive toward.

"This opens the minds of our players," says the former Pistons guard. "It shows you can dream farther than being a player, coach or a general manager. Just being able to have that dream allows [African Americans] to continue to reach farther."

Thomas has also been in negotiations to purchase a majority interest in Sure Shot International, a Holly, Michigan-based sporting goods manufacturer of basketball backboards, rims and poles and other items. The company reported losses of $1.9 million in the third quarter of 1996.

The Raptors recently broke ground on the Air Canada Center, a new arena to be built in downtown Toronto. The franchise fee for the basketball team was $125 million.

Thomas already functions as co-chairman of the board of directors and principal shareholder in American Speedy Printing Centers Inc., which he and his partners acquired in 1993 and transformed from a bankrupt concern into a successful chain of printing centers.