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 .
Not all of the newspaper's content appears online.
*There is a fee for downloading some older articles.