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Jordan Reportedly Wants the Bobcats
May 27th, 2009BET founder Bob Johnson is shopping his Charlotte Bobcats, and word is, His Highness, Michael Jordan, is looking to buy. The Charlotte Observer reported Friday that Johnson wants to unload the franchise, of which Jordan has a minority interest and oversees basketball operations. It’s no secret that Jordan would like to be a majority owner. Jordan, the Observer reports, has both the interest and the capital. The question is what Johnson will list as the selling price. If the Observer report is accurate, Johnson will seek at least $325 million. But, it’s also no secret that the Bobcats are finding it tough to turn a profit in this floundering economy. By some estimates, the Bobcats are losing tens of millions. As recently as five months ago, Forbes magazine listed the Bobcats value at $284 million, 29th among 30 NBA teams. “If Michael picked up the phone and said, ‘I’m ready to be the Bobcats’ owner,’ I’d be more than happy to talk to him about it,” Johnson told the Observer last month.
If Johnson were smart (and I have no-doubts that he is) he would work the deal for his Air-ness, Mr. Micheal Jordan. Johnson knew that having the controlling interest in a sports franchise was a big opportunity, but I’m not sure if he was prepared for the NBA. Jordan, at this point, has had his hands in several business ventures and has proven himself knowledgeable enough not to have fallen into the trappings of poor investments, nor business partners. MJ has been out of the league for nearly what, ten years nad just indicted in the Hall (of Fame). He is still “the Mr. NBA” He would be the best choice for the city of Charlotte and the state of North Carolina that has all other major sports teams except Baseball (if I’m not mistaken). Jonson, make the call to Jordan and do what;s best for the city and state.
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