Michael Jordan Needs To Buy the Charlotte Bobcats
Bob Johnson has made his desire to sell the Charlotte Bobcats quite clear.
Michael Jordan has also said he was interested in buying the Charlotte Bobcats.
If that's the case, this needs to get done for the sake of the franchise, the city of Charlotte, and, most importantly, the fans of the team that pay the bills, buy the tickets, and buy the merchandise.
The city of Charlotte has had tense relationships with both of their NBA franchises. The Charlotte Hornets left for New Orleans in a dispute that became very bitter on both sides. As a result, a new franchise was awarded to the city. After all, the Hornets led the NBA in attendance for years in the late '80s and '90s—this can be an NBA town.
Enter Bob Johnson.
Bob's tenure got off to a rocky start, beginning with the construction of a taxpayer-funded arena that left a bad taste in many mouths. The old Charlotte Coliseum was imploded, and the new Bobcats Arena opened in 2005.
Fast forward to the troubles Johnson has had and the money losses that have added up—not to mention Johnson's abrasive personality—and he wants out. As far as I'm concerned, he can go.
Yet he won't sell (at least not yet) at a loss and it's quite foolish to think anyone would buy this team right now for the $330 million he paid. My belief is that Johnson would give MJ a bit of a discount, or even stay on as a minority owner, if MJ became the majority owner.
The problem with this dance is that the team isn't getting any better with questions of ownership and it's looking quite possible that Raymond Felton could sign an offer sheet with another team.
I was dismayed at reports this week that the team and Felton's agent were "far apart" on contract talks. Add to that the mandate from Johnson that the team can't go over the luxury tax, and I'm worried about what protracted ownership uncertainty would do to this team.
If Felton signs with another team, will the Bobcats match the offer? Will the team be able to afford the backup power forward they desperately need? These questions need to be answered.
Again, it all starts at the top of the organization. Michael, please, step up.
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