What makes Betancourt tick

While Joe Betancourt, the former Charlotte Hornets scout who nearly brought Johnny Abarrientos to the NBA in 1997, is busy investing his millions in the stock market, guaranteed commercial paper and IPOs, he’s not losing sight of what makes him tick – his love for sports.

Betancourt met with then-Alaska coach Tim Cone, FEU team owner Anton Montinola and Abarrientos in his Manila Peninsula Hotel suite to negotiate a 10-day contract for the Flying A. It was almost a done deal until Betancourt returned to Charlotte only to find out coach Dave Cowens had plugged the hole in the point guard position by trading for David Wesley. Betancourt will never forget what could’ve been and now that he’s working to buy an NBA franchise with Asian and Middle East partners, his vision is to still bring in a full-blooded, home-grown Filipino to the league nearly 30 years after the Abarrientos experience. Betancourt’s sights are on Kai Sotto.

“We’re in the chase to obtain an NBA franchise,” he said. “It’s a very exclusive club of only 30 NBA team owners. A former top NBA coach is advising us. For the moment, if this option to buy the team fails, we have other options even though it has been a long wait, it’s par for how long it takes to close on an option like this. Winning in the NBA means willing to delve strongly in the luxury tax and we’re willing and we have deep, deep pockets to go there when we prevail. We have never lost faith that we can pull it off.” Once the deal is finalized, Betancourt will be the managing partner with a 10 percent investment or about $270 million.

Betancourt said he’s closely following Gilas’ exploits. “Gilas has a tough road in Riga but never say no,” he said. “I agree with Tim that sky’s the limit for Kai. I’m not easily impressed but Gilas has impressed me. What a job Tim has done. He’s like fine top of the line wine.”

Betancourt was once the Saudi Arabian and Mexican national coach. He won championships in Venezuela and in 1997, took the US team to the Jones Cup throne. A coaching legend in Texas where he’s from, Betancourt has conducted clinics all over the world, working with former Los Angeles Lakers coach Del Harris, Bill Walton, Jim Valvano,