Jordan intent on buying Bobcats

[eleaf14]

http://blogs.charlotte.com/inside_the_nba/2010/02/brown-jordan-intent-on-buying-bobcats.html


I consider this to be good news. I like the progress this group has made. The devil you know is better than the devil you dont. IMO.

[teej]

http://sports.espn.go.com/nba/news/story?id=4917218

ESPN's version

C'mon Michael...you got it man!

[Muttley]

Concerning this season and the next, I think this is good. Any major shake-up, especially concerning the return on Larry next season is liable to hurt our run at the playoffs. At least in the short-term, I'll take the devil I know.

[Weezy21]

am i the only one who thinks this is a terrible thing??

[SirBobcat]

Nope I am with you on that...I really want Postolos as owner.

[ND22]

I'm torn on this...on the one hand I don't want to lose LB, on the other hand Postolos track record is good. I really don't know how I feel about the whole situation at all, other than being happy that Bob Johnson is finally not going to be apart of this team.

[teej]

Here's everything from Bonnell



Charlotte Bobcats managing partner Michael Jordan recently told coach Larry Brown he's doing everything he can to buy controlling interest in the team.
"I'm trying my hardest to get this thing done,'' Brown quoted Jordan as saying last week.
Then Brown added, "I'm hopeful that at the end of the day Michael will be running the Bobcats.''

All that was in reaction to NBA commissioner David Stern's comments Saturday that the Bobcats would likely be sold in the next 60 days. Jordan and a group led by former Houston Rockets president George Postolos are the only known bidders.
A lot more on this in Tuesday's Observer, but here's the clincher. Point guard Raymond Felton predicted it's "likely'' Jordan ends up with the team, based on what he's heard. And Raymond isn't usually quick to speculate on such things.




Additional quotes from Charlotte Bobcats coach Larry Brown on his concerns if an ownership change would result in Michael Jordan leaving the organization:
"He just said, 'Larry, I'm trying my best' (to buy the team) and I know he is,'' Brown said.
(What would it mean to have as prominent a former player as Jordan as a majority team owner?)
"He's as good a player as we've ever had in this sport. He's a wonderful guy. I think when the NBA bounced back, Magic (Johnson) and Larry (Bird) and Michael sustained it. A lot of people owe a lot to him. And I don't think (commissioner) David Stern takes that lightly. I think he admires Michael and realizes what he means to our sport.
"I just think we've got to have him involved. I see Magic involved (with the Los Angeles Lakers). I see guys like (Joe) Dumars involved, and it's only made our league better. I just can't see the NBA without him being involved.''


I think if Ray wants MJ around, that says something. And if he didn't want MJ, he wouldn't have said anything, to those of you who will say he didn't state his preference.

[BobcatsAllDay]

I'm going to bank on MJ's competitive nature on this one. He was labeled a failure in DC although he left the organization in better shape than when he arrived. Currently we are in good shape to make our first playoff appearance in team history. He played a significant role in bringing in LB and I believe the Rod Higgins hire was MJ too, correct? I don't think Rod gets credit for the moves we made over the past couple years (I know, I know...draft picks aside).

[jiff65]

I'm not a Carolina guy - but I certainly prefer Jordan to the out of town ownership group. Jordan's North Carolina connection (to the state, not the university), and obvious desire to be an NBA champ in another way, both appeal to me as a sixth-year STH. You get older, you get wiser. We'll have an owner who will put winning first. Profits and good things will follow. Go Cats!

[Marvel]

am i the only one who thinks this is a terrible thing??


From the words of the late great MJ......."you are not alooooone....i am here with yooou" i would welcome a change up top and i think Postolos could really make a good difference to this franchise, i want Postolos

[GoBobs]

If I could get the things I want, a running team trades that get us cap space to chase a major free agent this summer, I don't care who the owner is. I could also care less about losing LB if it means our young guys, Ajinca Brown Hendo, will get to develope.

That said I gotta go with my gut and I really hope Jordan gets it. So far he is the best thing that has been associated with our franchise. The moves have been somewhat impressive since he has been on board aside from the drafting of morrison.

It is totally unfair to blame the Kwame Brown draft on him. The next two guys drafted were curry and chandler. It is just a roll of the dice sometimes. The Ammo draft was way worse then that. The Darko thing may have been the worst blunder of all time. LB being a part of that scares me a lot more then Jordan being a part of K. Brown.

[ziggy]

Added a poll.

For me, I'd prefer the Jordan group over Postolos, Like a previous poster said I'd rather have the devil I know versus the one that I don't.

[Nata Fresh]

Count me in the Postolous camp...most likely Postolous will bring in a guy like Daryl Morey(if not Morey himself as his contract is up next year) to run the franchise..I mean even with this regime, can we name one time where the Bobcats havent nearly gotten taken to the cleaners(or grossly overpaid for a player) in a trade?? Let's get some basketball guys in here who are ahead of the curve...not slightly lagging behind it...

[Walt Cronkite]

Win/win scenario.

[spectre]

Concerning this season and the next, I think this is good. Any major shake-up, especially concerning the return on Larry next season is liable to hurt our run at the playoffs. At least in the short-term, I'll take the devil I know.

Ditto to the previous poster!

If Jordan is owner we keep LB. Also with Jordan as owner I doubt we ever have to worry about the team moving...even when the restrictions start to get affordable.

[spectre]

I mean even with this regime, can we name one time where the Bobcats havent nearly gotten taken to the cleaners(or grossly overpaid for a player) in a trade??

http://dimemag.com/wp-content/Images/players/Jackson_Stephen/SJackson-15-1.jpg

Of course Jax is about the only trade I can put in that category...but you did say one!

[Demon DeaCat]

Count me in the Postolous camp...most likely Postolous will bring in a guy like Daryl Morey(if not Morey himself as his contract is up next year) to run the franchise..I mean even with this regime, can we name one time where the Bobcats havent nearly gotten taken to the cleaners(or grossly overpaid for a player) in a trade?? Let's get some basketball guys in here who are ahead of the curve...not slightly lagging behind it...


As I've stated many times on other threads, I disagree with the notion that we've gotten shortchanged on our trades. The organization is clearly headed in a positive direction and Jordan (and the transactions he's orchestrated) has had a lot to do with that. It seems odd that now would be the time that people want to shake things up. I could have seen it a couple of years ago, but it doesn't make sense now.

The problem with Johnson is that he doesn't have the trust of the local community and he has alienated the business community. As the face of this franchise, MJ could mend some of those relationships. He's loyal to the state, as others have said, beyond just the ties to UNC. He garners instant respect by virtue of his stature in the league and is the ultimate competitor. He is obviously committed to making this franchise relevant, and I believe will spend what it takes to make that happen. I've got nothing against Postolos, but I see nothing but positives with MJ at the helm.

[ohara831]

I prefer Postolos due to his track record. He has proven he knows how to run a franchise. But I wont cry at all if MJ gets them. I'd be fine with it, just as long as we get people in the FO who know how to evaluate talent at Draft time (not done so well in that category) and wont make trades merely to lessen salary. It everything stayed the same except Bob Johnson was gone, I'd be a bit disappointed. They need some better people in the FO.

[spectre]

Jordan And The Bobcats - Hoopsworld (http://www.hoopsworld.com/Story.asp?story_id=15323)


The holdup according to informed sources is not money; in fact Jordan has plenty of investment partners that want to be in "the Jordan business" and would fund him at whatever price he decides is fair. The holdup seems to be how much of Jordan's personal wealth will be included in the deal.

There is a belief the NBA Bylaws, a private non-published agreement establishing the mechanism of the NBA's franchise system, requires the managing partner to have a certain percentage of actual ownership. That means Jordan may have to come out of pocket with a far greater sum of money than initially planned.

How much is Postolos worth?

[ohara831]

Jordan And The Bobcats - Hoopsworld (http://www.hoopsworld.com/Story.asp?story_id=15323)



How much is Postolos worth?

That is a terrific find, Spectre! Thanks! It provides very interesting insight. I have no idea about Postolos' personal wealth, but I would assume it is a hurdle he can clear since he apparently made the offer which triggered the clock ticking on MJ. I guess his divorce is coming back to haunt him as he gave up a ton to her in the divorce. Would hate to see something like that be the reason he did not get it.

[spectre]

He is/was an associate for a NY law firm that dealt in acquisitions/mergers. I'm sure that whole group is filthy rich...but I was under the belief that to make the really huge cash you had to be a partner (I could be wrong as my law education consists pretty much of reading John Grisham novels).

Maybe he has "old" money.

[Zoolander]

http://www.nba.com/bobcats/backstage_jordan_060623.html

"We are committed to trying to provide a team (our fans) can support. Sometimes it’s about money, but then it’s not about money. You have to pick and choose as how you want to approach the focus. Is it about making money or is it about winning? I think what’s been done up to this point, mistakes have been made and some decisions should have been second-guessed. What’s been asked of me is my opinion about how we should attack this scenario, and I feel it has to be done on the basketball court. The unfortunate thing is that we had a team prior to what is here now and a lot of distaste was left. The fans and public here are consumers for what we are trying to provide, entertainment. Where we have to go about re-establishing that connection is to improve and put out entertainment that they can support, and that’s the approach we will use from this day forward. Obviously (Bobcats Majority Owner Bob Johnson) has seen what has transpired over the last two or three years in terms of the business within the basketball situation and you know things need to be changed, which is one of the reasons I’m here."

That's why I'd like to have Jordan. He knows the 411...;)

[teej]

I will not at all be upset if Postolos gets it (though he will be on a short leash) but I would much rather MJ get the team...

[King Taharqa]

http://obsessedwithsports.files.wordpress.com/2009/06/michael-jordan-bobcats.jpg

[Ghost Kat]

Bring on Jordan :cool:

[Scottley Crue]

Jordan And The Bobcats - Hoopsworld (http://www.hoopsworld.com/Story.asp?story_id=15323)



How much is Postolos worth?


Here's some clarification (from Rick) on how much a controlling owner actually needs to own. Very interesting that you do not have to have controlling interest in the team, just 15% and the "blessings" of your fellow owners and the league.

http://blogs.charlotte.com/inside_the_nba/2010/02/how-much-a-new-owner-must-own.html