Bobcats Sale Close to Completion

by February 25, 2010
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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.”