Bob Johnson looking to sell majority share of the Cats

**Dead_Real** · 05-21-2009 11:48 PM

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** · 05-22-2009 12:00 AM

Wow! Very interesting.

**Ghost Kat** · 05-22-2009 12:12 AM

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** · 05-22-2009 12:28 AM

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** · 05-22-2009 03:13 AM

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** · 05-22-2009 07:40 AM

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

**ohara831** · 05-22-2009 08:15 AM

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** · 05-22-2009 08:15 AM

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

**GoBobs** · 05-22-2009 08:31 AM

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.