duncan228
05-23-2009, 03:17 PM
Retired superstar Jordan interested in owning Bobcats (http://sports.yahoo.com/nba/news?slug=afp-basketnbabobcatsjordan&prov=afp&type=lgns)
Retired National Basketball Association superstar Michael Jordan is interested in becoming majority owner of the Charlotte Bobcats now that Bob Johnson is looking to sell the club.
Johnson, the first black owner of a major US professional sports team, has retained a firm to seek new investors but Jordan, one of the club's minority investors, has said he would relish the chance for a greater ownership role.
"My interest to grow as an investor is still strong," Jordan said.
"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 would definitely like to grow my investment."
Jordan already has control of basketball operations for the struggling Bobcats, who have yet to post a winning season and are beset by dwindling attendance and sponsorship support.
The Bobcats finished 35-47 this past season, their best-ever showing coming under coach Larry Brown, who was brought in by Jordan to spark the team.
Johnson, who founded Black Entertainment Television, spent 300 million dollars for an expansion franchise in 2003, a year after the Charlotte Hornets moved to New Orleans.
While the team controls arena profits, the Bobcats were valued by Forbes magazine at only 284 million dollars, in part because of the recent global financial recession.
Retired National Basketball Association superstar Michael Jordan is interested in becoming majority owner of the Charlotte Bobcats now that Bob Johnson is looking to sell the club.
Johnson, the first black owner of a major US professional sports team, has retained a firm to seek new investors but Jordan, one of the club's minority investors, has said he would relish the chance for a greater ownership role.
"My interest to grow as an investor is still strong," Jordan said.
"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 would definitely like to grow my investment."
Jordan already has control of basketball operations for the struggling Bobcats, who have yet to post a winning season and are beset by dwindling attendance and sponsorship support.
The Bobcats finished 35-47 this past season, their best-ever showing coming under coach Larry Brown, who was brought in by Jordan to spark the team.
Johnson, who founded Black Entertainment Television, spent 300 million dollars for an expansion franchise in 2003, a year after the Charlotte Hornets moved to New Orleans.
While the team controls arena profits, the Bobcats were valued by Forbes magazine at only 284 million dollars, in part because of the recent global financial recession.