Thomas Buys Majority Of CBA

NBA great Isiah Thomas is buying a majority stake in the Continental Basketball Association for about $10 million and plans to overhaul the league.

"We're very excited about this opportunity," said Thomas, who led the Detroit Pistons to consecutive NBA titles in 1989 and 1990 and is former co-owner and general manager of the Toronto Raptors. "The CBA has always had huge potential, but we look forward to helping the league realize its full potential."

The CBA's nine teams are organized as an association with approximately 40 owners. Thomas said he plans to reorganize it into a single entity league with the nine franchises reporting to the league.

The NBA will continue to use the CBA as its developmental league and provide both financial and professional support.

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