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Bobcats on the block?

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Friday, May 22, 2009

(Updated 8:13 am)

Staff Reports

CHARLOTTE — Want to own an NBA team? The Charlotte Bobcats are for sale.

The Charlotte Observer is reporting this morning that the team's majority owner, cable magnate Bob Johnson, has hired a sports investment banker to sell his share of the franchise.

The president of a New York investment banking firm confirmed to the newspaper that he is representing Johnson. An NBA spokesman said the league is aware the Johnson is seeking investors.

Johnson owns about 70 percent of the team, which is expecting to lose money over the next couple of years.

For more, read the Charlotte Observer's story .

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jeffic_fail

May 22, 2009 - 10:02 am EDT

NBA teams in Charlotte: The epitome of Jeffic Fail.

jksal2002

May 22, 2009 - 10:35 am EDT

This team must have the worst Marketing team in history. We live approximately 70 miles from Charlotte and never see any merchandise anywhere for this team. There has never been any excitement generated.

DaveW

May 22, 2009 - 12:55 pm EDT

Maybe ML Carr and Larry Bird will get their chance. These 2 guys would have done what was necessary to make the team competitive had they been awarded the franchise.

hopperfan

May 22, 2009 - 2:03 pm EDT

well lets see they built that uptown arena anyway with tax dollars after it was voted down by the taxpayers. Now things may be looking gloomy with the Bobcats losing money. Charlotte has that sparkling new arena it built for the NBA, and the Bobcats might just take a hike out of town in the next 5 years. Karma can be a you know what.