Report: Jordan interested in buying (more of) Bobcats
Per Rick Bonnell of the Charlotte Observer, Bob Johnson, who owns about 70 percent of the Charlotte Bobcats, is interested in selling the franchise.
According to the Observer, Johnson has hired New York-based Galatioto Sports Partners to represent him in his quest to find a buyer.
In their annual ranking of all NBA franchises, Forbes magazine valued the Bobcats at $284 million, which is 29th of 30 NBA teams. Only the Milwaukee Bucks are worth less.
According to two sources of Bonnell, Michael Jordan is interested in taking a closer look at buying the franchise.
Jordan is currently a minority owner of the team, but he has expressed an interest in owning more.
According to the Observer, Johnson has hired New York-based Galatioto Sports Partners to represent him in his quest to find a buyer.
In their annual ranking of all NBA franchises, Forbes magazine valued the Bobcats at $284 million, which is 29th of 30 NBA teams. Only the Milwaukee Bucks are worth less.
According to two sources of Bonnell, Michael Jordan is interested in taking a closer look at buying the franchise.
Jordan is currently a minority owner of the team, but he has expressed an interest in owning more.
“My interest to grow as an investor is still strong,” said Jordan, who was voted into the Basketball Hall of Fame last month. “Purchasing the whole team I don’t think that’s an option right now. But if parts of the team become available, financially, if I can afford it, I’d definitely like to grow my investment.”The team had its best record (35-47) in its five-year history last year under coach Larry Brown, whom Jordan brought on board last year.
