Bo Jackson & Ronnie Brown Forming Their Own Bank. Bobby Who-der?

[AUChizad]

http://www.cnbc.com/id/29349568

Monday, 23 Feb 2009
Bo Knows...Banking?
Posted By: Darren Rovell

I've seen athletes invest in a lot of things, but it's never really been "hot" to invest in a bank. That's why I was confused when I heard that former dual sport great Bo Jackson and Miami Dolphins Pro Bowl running back Ronnie Brown had become partners in starting up banks.

To do this now given the state of the banking industry really has me scratching my head, although there's some rationale that starting a bank with no debt gives you a shot to succeed.

Neither of them put up too much cash.

Brown is on the board of the Broward Bank of Commerce in downtown Fort Lauderdale, which opened on Jan. 12. He is one of 10 board members who raised $3.1 million to start the bank.

Jackson put up $550,000 along with 19 other investors to start a bank in Burr Ridge, Ill. The group hopes to raise more money in time for their approval by late March. We took a look at their Web site and we have to admit. It's a bit strange that there's a random guy with a tie on the front. If I were running this bank, I'd use Bo.