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Friday, May 22nd, 2009 at 10:00 am  |  18 responses

For Sale: Charlotte Bobcats

It will not be an easy sale, however: “Charlotte Bobcats majority owner Bob Johnson has stepped up efforts to sell the team, recently hiring a sports investment banker to look for a buyer. Sal Galatioto, president of New York-based Galatioto Sports Partners, confirmed to the Observer Thursday that he’s representing Johnson in a potential sale. Galatioto declined to comment further on the situation…The challenge will be affixing a value on the team that Johnson and a buyer would accept. A source with long ties to the NBA, who has inquired about the Bobcats’ availability, said Johnson wants between $325 million and $350 million. That would approximate the original $300 million expansion fee Johnson paid the NBA, starting in 2003, plus his initial $30 million investment in working capital. However, it’s questionable whether a buyer would accept that valuation in the current economy. Forbes magazine, in its annual valuation of NBA teams, estimated in December that the Bobcats are worth $284 million, or 29th among 30 teams (topping only the Milwaukee Bucks).”

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  • sixersforlife_85

    If I had 350 million that is the only thing I would do. Blow the lot on an nba franchise.

  • http://theghostofroyhobbs.blogspot.com Mo Charlo

    we should have a bake sale to raise $300m for BETCats. I would love it if he ran his team.

  • Prison Mike

    let’s all put our credit cards together.

  • Feng

    lol

  • breeze

    thats team aint worth half of that….

  • breeze

    we need an economy discount…

  • http://hibachi20.blogspot.com/ Moose

    Here that, Shaq???

  • http://slamonline.com Russ Bengtson

    I got…lemme see…nine bucks.

  • http://idunkonthem.blogspot.com/ albie1kenobi

    so can BETcats still be BETcats? where’s MJ on this issue?

  • http://www.slamonline.com Blinguo

    Charlotte JB Cats?! Nike via Jordan Brand (or really Brand Jordan, so BJ[CATS] which most fans are too immature for) could buy the team. But that team will have to be the old Derek Anderson, Juwan Howard, G.Wallace Cats.

  • LeoneL

    What you waiting for BET?

  • Quail

    i got 35 bucks in quarters. where will that get me?

  • http://www.myspace.com/weezyleezy337 weezy f. leezy

    lol…bake sale. whatever happens i hope it works out. it be nice to see them come outta this and be a good team someday.

  • http://www.myspace.com/weezyleezy337 weezy f. leezy

    for some reason i jus remenisced about muggsy, larry johnson and alonzo and them clean ass old hornets uni’s. even more off topic…remember starter jackets? everybody had either a bulls, magic, or hornets jacket!

  • anon

    I’ll buy that for a dollar.

  • chaps

    Let’s keep inching closer ill pawn all my nbalive games

  • chintao

    Wait a minute. When did this happen? I thought I read a story back near the beginning of this year in which Mr. Johnson flatly denied that he was shopping the Bob’scats.

  • tmac

    Its a new team! They havent had a #1 pick yet! A number #1 pick doesnt mean automatic superstar either. As an owner you need a tremendous amount of patience and faith. Thats all they need to be successful. It takes time and luck to make it to the playoffs considering you are staring from scratch. The focus has to be, being a class organization 1st and the cards will fall in place. However, your pockets have to be deep to wait out the losses associated with losing.

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