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Thursday, February 25th, 2010 at 10:00 am  |  20 responses

Bobcats Sale Close to Completion

The Bob Johnson Era — and what an era it was! — is nearing its end: “The nine-month saga that is the sale of the Charlotte Bobcats could be resolved in the next three days, possibly today. Sources close to the situation anticipate a quick resolution, as to whether Bobcats managing partner Michael Jordan or ex-Houston Rockets president George Postolos will close a deal with majority owner Bob Johnson. Jordan’s window of first-refusal to buy the team is close to expiration, sources say, and he was still recruiting partners this week to invest $260 million or more to complete a purchase of Charlotte’s NBA franchise.”

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  • http://www.myspace.com/freedmusic fredd

    crossed fingers, for the best

  • Jahi

    I’m betting that Michael Jordan doesn’t have the cash liquidity to pull off this deal. The only way he gets this team is if his ex-wife invests, lol. Jordan’s net worth is less than $50 million at this point, his wife has more cash than him. Remember, MJ has a gambling problem and his balance sheet isn’t strong enough without a silent partner with some serious liquidity.

    I’ll bet that George Postulous will become the new owner of this team and likely move it to Seatlle. The city of Charlotte doesn’t support the NBA. Robert L. Johnson is one of my favorite businessmen and he raised the bar for diversity in business. However, business is business, and he may lose $50-$70 million on this deal.

  • http://www.myspace.com/freedmusic fredd

    damn it’s sad but i feel you must be right … ( the only good thing would be to see the Sonics back in the L )

  • Matt Joe

    To hell with jordan (respect due to his on the court activities) I could care less is he became the owner. He hasnt done nearly as much to impact the lives of youth who kill themselves over his expensive shoes. Magic Johnson is the “greatest” based on his on the court and off the court activities (as well as Kareem, Russell, Polynice, and others). Jordan only cares about profits as well as Bob Johnson (creator of the imfamouse steretypical BET). Sorry fam if you not uplifting than screw you. You can pull my card, I mentor and his impact or potential impact is much needed.

  • http://www.hibachi20.blogspot.com BETCATS

    So many words i could say on this. Im rooting for MJ, but if we end up with the guy whose’s name i cant spell that starts with P i will be very interested in seeing what happens. It would mean a complete re-doing of our front office (or MJ’s front office as it might as well be called). We would probably end up with a new coach, new GM, and a new everything else. As long as Wallace stays i will too. If this guy trades away the soul of the team though…

  • Keenan

    Yes…Wallace is the heart and soul of our team. But I really want MJ to buy the team. I enjoy seeing him at the games. Even though he doesn’t do as much with the Bobcats as I would like, he’s still the G.O.A.T and he still gives the Bobcats credibility and we keep Larry Brown the G.C.O.A.T (Greatest Coach of All Time) lol

  • http://twitter.com/dyalektraps d.Y.

    Good riddance. I hope to never hear about Bob Johnson again.

  • http://fjkld.com Jukai

    Matt Joe: Do a little more research on Magic Johnson, please…

  • ENDS

    umm Jukai Magic has supported his community more than mike has. Mike is just about a buck. and now he cant get no one to buy the team and pass it to him

  • Rob

    Not true ENDS. MJ supports a lot of people, but he keeps that private. He helps, but he doesn’t go around saying “hey, look at what I’m doing!!!” he cares about helping, not about people saying: “Wow what a great man Michael is” That’s not his style. You people here know sh*t about Jordan. You have so many preconceived ideas about him. Do some research before you speak. Real research.

  • http://slamonline.com Krishan

    Am I the only one who finds it incredulous that BET can’t spell “Postolos”?

  • http://thegoodpoint.com Sam Joynt

    @ Matt Joe…Did you just put Olden Polynice in the same category as Russell, Kareem and Magic?

  • http://dgcoursereview.com Bro D.

    As long as people stop calling them the BETcats I’ll be happy.

  • ORANGEMAN73

    The City of Charlotte supports the NBA more than Seattle. Why you think the owner left in the first place. As a resident of Charlotte, the Bobcats are coming into there own. This town will be bananas once they are in the playoffs. Watch!

  • http://www.hibachi20.blogspot.com BETCATS

    its Jordan. YAY!

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  • The Philosopher

    The NBA needs Jordan as an owner. They need Magic as an owner. And Bird, I think, will eventually become an owner. But with Jordan’s influence and clout, he could round up some guys and start his own league. Now, that would be something. Have a guy like Rod Higgins as commissioner, or something.

  • The Philosopher

    Then the Jordan league goes up against the NBA. Like how the old ABA versus the NBA. I wonder how much money that would make. Do the masses think it could happen? This is Michael Jordan. Not Dan Dickau. No disrespect to Dan Dickau, but…

  • kameium

    The next step in Opperation: Team Jordan!

  • http://theurbangriot.com/ NUPE

    Jordan was a great player, I get that. But I don’t see him as being even a good to decent owner. What has he done as a baskeball executive besides say that Kwame Brown was a future superstar? What kind of ability has he shown to effectively run a business (he’s an endorsement machine and has made Nike a ton of money, but what has he done from a business standpoint?). His gambling background is ‘sketchy’, but can’t believe everything you hear. Plus, he’s doing everything he can to not invest his own money – to me that’s a huge red flag. If Magic and Bird were to become his ‘partners’ in this then that would be something I could see the NBA liking. However, George Postolos just seems like the much better choice from a business perspective. He dosen’t have the public cache name of MJ, but at least he would be vested with his own money etc.

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