Bob Johnson looking to sell majority share of the Cats

[Dead_Real]

http://www.charlotteobserver.com/237/story/738988.html


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.Johnson told Observer columnist Scott Fowler last month that he'd like to sell controlling interest to minority owner Michael Jordan, the former NBA star who oversees the team's basketball operations. Since then, according to multiple NBA sources, Johnson has begun looking for other potential buyers.Jordan wasn't available for comment Thursday.

An NBA spokesman confirmed that the league is aware Johnson is seeking investors and that Galatioto is assisting him.
Looks like it might finally happen I wonder who will step up MJ?

[dnbman]

Wow! Very interesting.

[Ghost Kat]

I'm happy to get rid of Johnson but I little nervous......

The devil you know is better then the one you don't

[westbrook08]

This is probably really good news long term,but very bad short term.Most owners when they are in selling mode want to shed as much salary as possible before the sale,which means ray may not be back now,our draft pick might be gone to unload nazi's contract,and we might not do anything but sign minimum contracts in a year when we could really get some good players on the cheap because of the economy.I hope that I am wrong, or that someone good swoops in really quick before bob sets us back to year one.

[millst2]

I hope Jordan steps up to the plate and can become majority owner. Bob Johnson sucked. We knew years ago he was worried that he may lose some money in the deal. We have talked about how cheap he was before and how he didnt really give a shit. larry Bird and his crew were going to try and bring the team to charlotte, but they wanted a minority owner ( which I have no problem with that ) and they picked Bob Cats johnson.

I think we may have traded the 12th anyway, to unload Nazr's contract is just a smart move period. I just dont know if Jordan can pull it out, we remember talking about Jordans comments before where he stated he would like to buy more of the team from Johnson. And now Johnson is stating he would like Jordan to get it.

Let's pray that jordan can sell a shitload of Jordans and Hanes over the next month or so :) Hell put him back on the gatorade bottle.. Come on Jordan. Atleast we know Basketball is his passion, not horse racing and buying and selling businesses like Johnson.

We have a winning product that will only be better next season, and with Johnson out the picture who started off the franchise on the wrong foot with the local community, I am sure attendance will rise.

[Dcarnys]

Quick everyone pool together your life savings, college funds, 401k's etc. Lets all buy Bob Johnson's ownership. :D:D

[ohara831]

Please, someone step up and buy this team from him! This can be a great thing. But like was said above, better the devil you know than the devil you dont. Oh well, I'll take a chance on a new one.

[amour217]

Great news...however I am worried about possible ownership teams from the Seattle area buying the 'Cats and moving them...

[GoBobs]

If MJ can summon the capital and the guts it would be a great move for him. He would be buying when the value is low because of the economy. The team is about to make the playoffs and draw a lot more fan interest. Plus the economy is on the way back.

Charlotte is a better market then the media gives us credit for. People are just about over the panthers. When the team starts doing well we will be near the top of the league in attendance.

[TattoodCats4life]

Quick everyone pool together your life savings, college funds, 401k's etc. Lets all buy Bob Johnson's ownership. :D:D

That was my thoughts exactly... we could probably buy 0.1% of the team if we all pooled what we've got.

[ALong13]

I don't see the Bobcats moving, and I will not be surprised at all to see MJ as the new majority owner of the Bobcats, they aren't moving anywhere...they are too strapped to Charlotte to move, and I'm sure the new owners are not going to want to pay the additional fee to get out of Charlotte...

[LB4President]

Whoever buys the team needs to lower ticket prices. The games I went to, there was so much extra crap (for lack of a better word) going on. It is not a show for God sacks! People come there to watch basketball. I think Johnson may have been too wrapped up in entertainment to run a bball franchise. I hope whoever takes over focuses on what is important, and that is creating a sound basketball team. That is what is going to attract fans.

[spectre]

PDF - Team Marketing Research (http://teammarketing.com.ismmedia.com/ISM3/std-content/repos/Top/News/tmr%20fci%20edition.pdf)

We're 26th in the League in cost for an average ticket.

Both times I've been I've had an awesome experience. Me and the wife thought they put on a great show.

You have to think MJ will eventually step up. Wonder what the guy is worth? You'd think he could grab another 30% or so for a little over 100 million bucks. That probably wouldn't even eat up half of his Nike stock.

BTW...did I read Bonnell right in that Johnson is wanting 325 million for his 70% stake? That's not going to happen; if the franchise is worth 285 million 70% would be around 200 million.

[ReesieNCPantherCatfan1]

I am reluctantly happy that he is selling. He did pony up and pay mek the market rate, so he wasn't as cheap as Shinn, but he stuck his foot in his mouth too many times, and wasn't here in Charlotte enough to seem like he cared. I hope someone with Charlotte ties buys the team and is more visible (if it's not MJ, my first choice). I think that Hugh McColl would be a good owner, perhaps Jerry Richardson and he can do another joint venture sell some Bojangles stock, and buy the majority stake of the team for 275 mil or so.

[Beekizzle]

I just want my Cats here in Charlotte, and competitive this coming season. I am kinda pissed.

[Dcarnys]

I am reluctantly happy that he is selling. He did pony up and pay mek the market rate, so he wasn't as cheap as Shinn, but he stuck his foot in his mouth too many times, and wasn't here in Charlotte enough to seem like he cared. I hope someone with Charlotte ties buys the team and is more visible (if it's not MJ, my first choice). I think that Hugh McColl would be a good owner, perhaps Jerry Richardson and he can do another joint venture sell some Bojangles stock, and buy the majority stake of the team for 275 mil or so.
That could be good in the marketability of the team as well. Richardson actualy puts his players and product out there unlike Bob Johnson.

[Mustachio]

LB4prez. thats not a Bobcats thing, thats a league wide thing. If you went to a Lakers game you would be bombarded by the same non-basketball related crapertainment that you find at a Bobcats game. Its unfortunate, but necessary as for every die hard basketball/bobcat fan like you and me there is a 12-18 year old kid whose attention needs to be held. Not ideal, but they pay for tickets too and the more people the merrier.

onto the matter at hand. My take on the sale. I'm pulling huge for one man.

Ollen Bruton Smith.

the dude is rich as balls. An estimated worth of somewhere around 1.4 Billion dollars. That makes him one of the few people born in North Carolina capable of purchasing the Bobcats. His loyal ties to the area would seriously quelch any fear of the Bobcats packing up and moving.

As owner of Lowes Motor Speedway the man stops at nothing to make his events the best. As a Bobcat fan that has to make you drool. Always looking for publicity for his events, controversial or not, the man sells tickets. He gets what he wants almost everytime and isn't afraid to spend his own money like Bob. If you need evidence, take into account his threat to abandon Lowes and build a new racetrack on his dime as close as 10 miles away, just so he could add a dragstrip. If the Bobcats need anything, and Bruton deems it necessary, little would be able to stop it.

Then theres the Nascar connection. Nascar wether you like it or not is wildly successful, especially in this area. His ties could only be helpful in building a larger more dedicated fan base. The cross promotion of events alone would be a significant boost in attendance I think. Drivers attending games would bring that celebrity feel, another attendance booster... LA East anyone? Like LA or not, they aren't gonna move and they damn sure dont hurt for selling tickets. So many possibilities, that the only con i see in the Nascar ties, is goodyear patches on the jersey. Im mostly kidding there (thats not possible right?)

Anyway, in a dream scenario Michael Jordan buys up more share of the team. Something he could definitely afford like around 40%. MJ owns a race team, so presumably he would be cool with Smith. Then Bruton buys up the majority shares. Two uber-successful North Carolinians owning our favorite team couldnt be bad right?

rebuttals or other options welcomed?

[spectre]

MJ owns a racing team? I didn't know that.

Your scenario sounds good to me.

[Keetch]

Does Bruton Smith have even the remote-est interest in basketball? Why would anyone think he might be interested?

I fear this is the beginning of a big mess.

Damn I think I lost my passion for your Bobcats-Bob; can I have out of my season ticket contract? If not; I'm going to have to sell it; but no way I'm selling unless I can clear what I paid for it.....oh right; that dog won't hunt.

Why don't you sell the team for 40% of its value Bob; right there at about the value of your tickets.

[teej]

MJ doesn't own a race team. I know that.

Mustachio, that was brilliant. Bruton does the business stuff to get the team making money and the celebs in the seats, like they do on NASCAR day. Heck, there's a ton of nascar drivers on Lake Norman. If you got 5 celebs to each game thats 200 ticketed celebs. Not hard with MJ and Nelly already invested. So that sets up LA east. Then let MJ and LB run the team, and when LB retires, let hm be the GM. I'm going to see what I can do to at least gauge any interest in Bruton. Because that would be awesome!

[Dunk]

From my (albeit limited) knowledge of the team's contract with the arena and city and all that, I think it's virtually impossible for them to move due to the financial impact.

Jordan seems the logical choice. Bruton Smith is another. Here's a few other NC billionaires. None of them jump out at me as anyone looking to buy a team, though.
http://www.forbes.com/static/bill2005/state_North+Carolina.html

Maybe you get some new money like the myspace or youtube guys (a la the Mark Cuban) but they're not from around here but then again neither was Bob Johnson.


Now is actually a good time to buy a team. It's cheap, relatively speaking. In 5 or 10 years after the economy has bounced back you could turn the Bobcats into a nice little money maker.

[Scottley Crue]

LB4prez. thats not a Bobcats thing, thats a league wide thing. If you went to a Lakers game you would be bombarded by the same non-basketball related crapertainment that you find at a Bobcats game. Its unfortunate, but necessary as for every die hard basketball/bobcat fan like you and me there is a 12-18 year old kid whose attention needs to be held. Not ideal, but they pay for tickets too and the more people the merrier.

onto the matter at hand. My take on the sale. I'm pulling huge for one man.

Ollen Bruton Smith.

the dude is rich as balls. An estimated worth of somewhere around 1.4 Billion dollars. That makes him one of the few people born in North Carolina capable of purchasing the Bobcats. His loyal ties to the area would seriously quelch any fear of the Bobcats packing up and moving.

As owner of Lowes Motor Speedway the man stops at nothing to make his events the best. As a Bobcat fan that has to make you drool. Always looking for publicity for his events, controversial or not, the man sells tickets. He gets what he wants almost everytime and isn't afraid to spend his own money like Bob. If you need evidence, take into account his threat to abandon Lowes and build a new racetrack on his dime as close as 10 miles away, just so he could add a dragstrip. If the Bobcats need anything, and Bruton deems it necessary, little would be able to stop it.

Then theres the Nascar connection. Nascar wether you like it or not is wildly successful, especially in this area. His ties could only be helpful in building a larger more dedicated fan base. The cross promotion of events alone would be a significant boost in attendance I think. Drivers attending games would bring that celebrity feel, another attendance booster... LA East anyone? Like LA or not, they aren't gonna move and they damn sure dont hurt for selling tickets. So many possibilities, that the only con i see in the Nascar ties, is goodyear patches on the jersey. Im mostly kidding there (thats not possible right?)

Anyway, in a dream scenario Michael Jordan buys up more share of the team. Something he could definitely afford like around 40%. MJ owns a race team, so presumably he would be cool with Smith. Then Bruton buys up the majority shares. Two uber-successful North Carolinians owning our favorite team couldnt be bad right?

rebuttals or other options welcomed?
I really like the idea of Bruton getting involved. I only wonder if he has any interest in the NBA and worry a tiny bit about the finances. Sonic Automotive isn't doing so hot these days. But then again, he's so rich he's probably got the money to buy Bob's share in his couch cushions. However, letting Bruton handle the fan relations/experience and Jordan do the basketball thing could be a nice combination.

Bruton would make sure the fans would enjoy themselves. I've been going to Lowe's/Charlotte Motor Speedway since I was a kid and always enjoyed it. Since it's inception, LMS has been known as the blueprint for fan-friendly tracks. So Bruton would probably do a lot of innovative things in that regard.

He comes across to me as a guy who likes a challenge...who can we get to challenge him on this?

[Mustachio]

Michael Jordan does own a race team.. its just not Nascar or stock car related. Its a motorcycle team and you can find out more here at http://www.23race.com/ .

The rumor is out there and I didnt start it, so theres a chance hes already interested. I just found this http://www.fannation.com/truth_and_rumors/view/77434 but thats nothing more than a paper loss meaning his value has dropped but only if hes trying to sell. Still no one losing money wants to take on an iffy investment in the middle of an economic meltdown. so thats a legitimate beef. but its a perfect time to buy low right?


Scottley you raise a great point about his innovative strategies to bring in fans. If he does purchase majority ownership, his first measure of business should be to hire Humpy Wheeler as his director of entertainment. Humpy would have a 30 foot metal Rufus in the parking lot, chewing up opposing mascot effigies and shooting fire out its nose. Just think of the timeout and halftime shows he would put on. nutso.

But seriously they already have the pit crew challenge in the arena now, Speed Week would be an excellent offseason promotion with tons of events at the arena. just so many possibilities and potential fanbase growth to ignore if you ask me.

dont forget the new Nascar Hall of Fame mere blocks from the Cable Box and both being located on the new literail line that Smith donated mega money for.

I can't personally think of a better way for the Bobcats to set stronger roots in the community and put itself in the picture of MAJOR Charlotte activities than for Bruton to buy it. Now we just gotta convince him right.

[teej]

Michael Jordan does own a race team.. its just not Nascar or stock car related. Its a motorcycle team and you can find out more here at http://www.23race.com/ .

The rumor is out there and I didnt start it, so theres a chance hes already interested. I just found this http://www.fannation.com/truth_and_rumors/view/77434 but thats nothing more than a paper loss meaning his value has dropped but only if hes trying to sell. Still no one losing money wants to take on an iffy investment in the middle of an economic meltdown. so thats a legitimate beef. but its a perfect time to buy low right?


Scottley you raise a great point about his innovative strategies to bring in fans. If he does purchase majority ownership, his first measure of business should be to hire Humpy Wheeler as his director of entertainment. Humpy would have a 30 foot metal Rufus in the parking lot, chewing up opposing mascot effigies and shooting fire out its nose. Just think of the timeout and halftime shows he would put on. nutso.

But seriously they already have the pit crew challenge in the arena now, Speed Week would be an excellent offseason promotion with tons of events at the arena. just so many possibilities and potential fanbase growth to ignore if you ask me.

dont forget the new Nascar Hall of Fame mere blocks from the Cable Box and both being located on the new literail line that Smith donated mega money for.

I can't personally think of a better way for the Bobcats to set stronger roots in the community and put itself in the picture of MAJOR Charlotte activities than for Bruton to buy it. Now we just gotta convince him right.

The four out of the last 5 sellouts should entice him, and he knows the Hornets history. But he and humpy arent the best of pals anymore. So that wouldnt work. But He also owns zMax, some merchandising companies, the little Legends and Bandoleros cars series called Inex and 600 racing, PRN (radio netwrok for racing), and 7 race tracks. He's plenty fine on the billionaire front. The sonic stuff hurt, but only in e-value. As far as actual asset calue, he's welllllllllll over a billion. But if someone could talk him into this, he would be one of the best owners because he puts the cash in, but he lets his people run it their way (as long as they don't cross him). Much like Jerry Richardson. Not quite as classy, but a lot more effective. I would dance in the streets if he bought the team.

[Ampsportsduo]

I'm filled with excitement and fear, kinda like a first date.

Getting Mr. C-SET out would be tremendous for the city and the team. The animosity that some Charlotteans feel towards the Cats may fade if someone local comes in or at least someone who hasn't disrespected the city at virtually every turn. The Bruton Smith idea seems like a natural fit, but I'm unsure of his interest. As a business man, there's no better time to buy, but don't forget that he's not afraid to play hardball with the powers that be (he threatened to move Lowe's Motor Speedway if he didn't get his drag strip). This could be a double-edged sword down the road.

The fear comes from exactly the points Westbrook brought up. I hope Bob doesn't strip this organization down even further. If he does, I could see Larry getting frustrated and walking away (hurting his own image nationally) and the team being right back to square one. Without LB's system, it wouldn't be hard to imagine this team backliding into mediocrity. Hell, with LB's salary, Bob may be just as eager to get him off the books as Nazr or Raymond.

As for the little side debate that broke out about fan experience. I couldn't disagree more. I think you need to make the games fun for the entire family. This 'crapertainment' may need to be improved, but to strip it away to make it solely about basketball would hurt ticket sales and growth amongst families. I've ranted on this before (http://www.bobcatsplanet.com/vb/showthread.php?t=9010), but you can't rely on the game to be a great experience every night.

[spectre]

Sources: Jordan Still Wants To Own Bobcats (http://www.charlotteobserver.com/bobcats/story/740926.html)


Both sources, speaking on condition of anonymity, said Jordan has the interest and the financial backing to pursue the team. The question for Jordan, or any other buyer, is what Johnson will peg as the team's value.



A source familiar with the situation said there's interest, mostly from out-of-town suitors, in buying the franchise, five years removed from expansion. That same source said those suitors aren't interested in moving the team and are sensitive to the reputation Johnson acquired as an absentee owner in Charlotte.


Ultimately Jordan's going to be majority owner IMO...but not until Johnson gets his head out of his ass about the price.

[Ampsportsduo]

It will be interesting if His Airness will finally pay up. I'm not calling him cheap, but he's been known to try to pay less than face value.

If I was guessing a price I'd say Bob wants $350 million, but will settle for somewhere in the neighborhood of 325.

One concern I have about MJ becoming owner is he's on the record saying he won't go over the luxury cap unless he feels he's got a championship team. I don't know if he was echoing marching orders or if it was personal philosophy, but it would be great to see the purse strings loosened a little as this core group makes their push.

[Jennings]

Yesterday on the Mac Attack they had a NBA insider on that said Jordan tried to buy the team a few months ago for 250 million, but Bob turned it down. Personally I think it's stupid to think you would get 330 million for this team. I guess we'll have to wait and see.

[spectre]

Then Bob is insane. North of 70%...figure that's 74%? That times 285 million is around 211 million. I don't see him getting an extra 100 million in this economy with a team that's locked into Charlotte and bleeding money.

[Ampsportsduo]

Yesterday on the Mac Attack they had a NBA insider on that said Jordan tried to buy the team a few months ago for 250 million, but Bob turned it down. Personally I think it's stupid to think you would get 330 million for this team. I guess we'll have to wait and see.

It was Steve Byrnes.

[teej]

It was Steve Byrnes.

He was the "NBA insider"? Good Lord, why the hell even bother. That's pathetic. Does he even watch the sport? He's a NASCAR junkie for crying out loud!

[Scottley Crue]

Then Bob is insane. North of 70%...figure that's 74%? That times 285 million is around 211 million. I don't see him getting an extra 100 million in this economy with a team that's locked into Charlotte and bleeding money.
As I understand it, Bob's also bleeding money from his outside investments as well. So maybe at some point soon, he decides to cut his losses and sell. I imagine he'll be stubborn about it, but I feel pretty sure that's what he'll have to do. If he's "lost his passion" (gotta admit, that one burns me), then I'd bet he'll want to get out sooner rather than later. He's just got to get a little reality thrown at him and then this train will get rolling.

[Scottley Crue]

He was the "NBA insider"? Good Lord, why the hell even bother. That's pathetic. Does he even watch the sport? He's a NASCAR junkie for crying out loud!
Gotta admit though, makes sense that WFNZ would get their NBA info from a NASCAR guy, doesn't it?

[Ampsportsduo]

He was the "NBA insider"? Good Lord, why the hell even bother. That's pathetic. Does he even watch the sport? He's a NASCAR junkie for crying out loud!

You realize he does sideline reporting for TNT? He was on to talk about the Coca-Cola 600, but because the story had just come out, they asked him about it.

[teej]

You realize he does sideline reporting for TNT? He was on to talk about the Coca-Cola 600, but because the story had just come out, they asked him about it.

He does what they tell him to do, and NBA sideline reporting requires no knowledge of the game or watching the game, just reciting the same questions over and over again.

He loves Nascar, he alwasys has from what I understand, hes even more of a redneck in person, and if he was doin sideline reporting for an NBA game I was watching I'd turn it off. For nascar he's good, but not basketball. He probably heard the "story" at one of Rusty Wallace's parties :o

[GOBOBCATS24]

Steve Byrnes is not the sideline reporter for TNT. That is Marty Snyder. By the way he does a great job for them and is tons better than craig seger or sherrill Miller in my opinion. Anyways, Bruton Smith partnering with MJ would be a phenominal occurrance for all Bobcats fans. But nobody knows if Bruton has any passion for basketball. As for MJ, I think that we all know where he is at as far as majority ownership goes. He wants it and and hes gonna go after it. BJ needs to get his head above the floorboards for once and realize that hes not gonna get more than 250 mil for a team that has struggled in its five year tenure in the NBA. Go MJ GO! how awesome would it be if Michael buys this team. woohoo Go Bobcats! Gerald Henderson Draft 2009! or trade up for that old okie. On second thought, lets stay put cus that Griff is inconsistant. maybe another Drew Gooden.

[BETCATS]

MJ doesn't own a race team. I know that.



Yeah, he does:
http://23race.com/

Its not Nascar, but it is racing.

[Icky Thump]

Will the team name, logos, etc. be changed with the sale? I know its hard building brand etc. from a young team but I never understood practically naming the team after it's owner who now will no longer be the owner...

[teej]

Yeah, he does:
http://23race.com/

Its not Nascar, but it is racing.

Yeah, that was already mentioned. I hardly consider NASCAR racing now, basically kissing ass to get your sposor money and championship, and before that I never considered anything else racing anyways. MJ's stuff is legalized street racing. And it looks better on the street. I'm not condoning any illegal activities, its just that boring outside of it's natural form.

[TheBeagle]

This is probably really good news long term,but very bad short term.Most owners when they are in selling mode want to shed as much salary as possible before the sale,which means ray may not be back now,our draft pick might be gone to unload nazi's contract,and we might not do anything but sign minimum contracts in a year when we could really get some good players on the cheap because of the economy.I hope that I am wrong, or that someone good swoops in really quick before bob sets us back to year one. Excepting this possible scenario by westbrook08, this is the great news! I just hope it does happen and doesn't drag on too long, which will make the above scenario a scary possiblity.

Bob's spokesperson talked about him losing his "passion" for owning the team: funny, I didn't know he had any to lose in the first place. Now the Jumper Classic he may have had passion for and lost, but the ball team? I never saw any evidence of it in any of his painfully awkward addresses to the audience at a game or two over the years, his foot-in-mouth habits in the media (rememember that co-interview he had with Mark Cuban on CNN or MSNBC or one of those universal news machines?), or his rampant absenteeism.

No preference on potential owners; hell, the new boss could be the same as the old boss, but for various reasons, bumbling Bob just has to go in order for this franchise to have some long-term success. Just the news of Bob possibly going bye-bye has added the team 3 new fans from my family alone.

The pros outweight the cons, but like with most all things, we'll see how it goes down, and we'll find out then.

[Dcarnys]

Well honestly the one thing im looking for in the new owner is someone who will promote the team in the local market. Bobby didn't even seem to care about that. All i ever heard was the odd radio add here and there.

[Ampsportsduo]

Steve Byrnes is not the sideline reporter for TNT. That is Marty Snyder.

You sir are correct, I had the right credentials, wrong name. It was Marty that was on WFNZ. Too much racing talk rotting my brain.

[teej]

You sir are correct, I had the right credentials, wrong name. It was Marty that was on WFNZ. Too much racing talk rotting my brain.

Ohhh, I don't like him. Steve is ok for Nascar when I want to take a nap, but Snyder's just annoying. And rarely right.

[BobCatsFanInTx]

From my (albeit limited) knowledge of the team's contract with the arena and city and all that, I think it's virtually impossible for them to move due to the financial impact.

Jordan seems the logical choice. Bruton Smith is another. Here's a few other NC billionaires. None of them jump out at me as anyone looking to buy a team, though.
http://www.forbes.com/static/bill2005/state_North+Carolina.html

Maybe you get some new money like the myspace or youtube guys (a la the Mark Cuban) but they're not from around here but then again neither was Bob Johnson.


Now is actually a good time to buy a team. It's cheap, relatively speaking. In 5 or 10 years after the economy has bounced back you could turn the Bobcats into a nice little money maker.Dunk;126740 said..In 5 or 10 years after the economy has bounced back

Just a bit pessimistic aren't we Dunk. I say two years max. ;)

[teej]

Dunk;126740 said..In 5 or 10 years after the economy has bounced back

Just a bit pessimistic aren't we Dunk. I say two years max. ;)

Depends on how the White House handles it and regulates the market.

...and if you condsider paying for the bailout until your dead a success

[TheBeagle]

Here's an update on the selling front:

http://www.charlotteobserver.com/bobcats/story/805016.html

For some reason, I'm not all that turned off by the prospect of this dude buying. He's a Houston dude through and through (GO 'STROS!!!) and they obviously already have a team there, so no fear of him moving the team. Add to this, he has much experience with the NBA, successful experience at that, and I'm kinda digging the guy. Am I an idiot for thinking this?

[davcbow]

Maybe MJ and him can team up....:cool:

[Weezy21]

Add to this, he has much experience with the NBA, successful experience at that, and I'm kinda digging the guy. Am I an idiot for thinking this?

this is what caught my eye as well...it also said he was david stern's right hand man...so atleast he has a feeling for what he's doin an not just some billionaire wanting to try sumthin new...THANKS BOB!....but yea i wouldnt mind seeing this guy team up with jordan...but i dont really see him teaming up with jordan...the only thing im pissed off at is that i want a mark cuban type owner! somebody who lives, breathes, an bleeds bobcats! i want somebody who will show up to the games...somebody who is enthusiastic about our team! thats what we need...an if this guy does want to buy the bobcats, i hope he plans on moving to charlotte cuz i want a visible owner!