Blog Entry

Michael Jordan's Bobcats partners want out

Posted on: November 4, 2011 7:46 pm
Edited on: November 4, 2011 7:51 pm
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Posted by Ben Gollivermichael-jordan-yell

At the same time that NBA legend Michael Jordan is reportedly leading the way for his fellow hard-line owners around the league when it comes to the ongoing labor negotiations, he's apparently dealing with some disorder in his own house. The Charlotte Bobcats majority owner is reportedly dealing with defections among his minority owner partners.

The New York Daily News reports that a "big piece" of the Bobcats is for sale.

A minority stake in the Bobcats has recently been put up for sale, the Daily News has learned.

How much of the team is on the market and which partner is looking to get out isn't known, according to sources, although one potential buyer has told business associates that he had been approached about buying "50% of the team.''

However, Jordan is majority owner of the team, which has been losing an estimated $7 million per season in recent years. "Michael isn't going anywhere, but there are other people in his group that want to get out,'' said a source. "There's a big piece for sale.''

The Bobcats were a bottom-10 team in home attendance last season and have made the playoffs just once in their seven years of existence. Jordan slashed payroll in 2011, trading stars Gerald Wallace and Stephen Jackson, and bringing in new GM Rich Cho to help lead a youth movement that will be centered around, at leat for the time being, 2011 draft picks Kemba Walker and Bismack Biyombo. In other words, the Bobcats would have had no hope of matching last year's win total of 34 if a full 82-game season had been played this year and currently have zero players on the roster with a legit chance at becoming a full-blown star. They also have the likes of Corey Maggette, Boris Diaw, Tyrus Thomas and DeSagana Diop on the books for fairly big money.

Maybe they should just change the team name to "Charlotte Amnesty BobClauses."

The immediate future is bleak. One or two more years of tanking and some smart drafting by Cho could turn this thing around in a hurry, but that's a tough sell to investors as the team will be bleeding cash and stocking up losses in the standings for the foreseeable future.

No doubt, someone will pony up for the right to be business partners with Jordan, but they will surely know going in that they are paying for that privilege, and possibly nothing more.
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Comments

Since: Mar 17, 2010
Posted on: November 9, 2011 3:45 pm
 

Michael Jordan's Bobcats partners want out

If they ever get an agreement done and it allows a team to build into a good ROI. There are a lot of people who would want to own an NBA team but labor contracts need to be set in stone first boys.




Since: Mar 30, 2008
Posted on: November 8, 2011 5:09 pm
 

Michael Jordan's Bobcats partners want out

Hard to buy a basketball team right now.  Does not make a lot of sence under the current situation.  The owners have no reason to agree to a deal until they get something that make sence.  Why invest tens of millions of dollars to break even or lose money.  The lock out could go on for a very long time.  Their is no way the owners should take a deal break even deal. 



Since: May 27, 2011
Posted on: November 8, 2011 2:40 pm
 

Michael Jordan's Bobcats partners want out

maybe one of MJ's Atlantic City creditors will tear up MJ's IOUs and accept  a minority stake as payment..JERSEY SHORE BOBCATS..i like the sound of it...



Since: Aug 25, 2011
Posted on: November 7, 2011 5:00 pm
 

Michael Jordan's Bobcats partners want out

What it boils down to is that turning a profit is close to impossible due to labor costs, so why WOULD I want to own a team ????



Since: Sep 4, 2007
Posted on: November 7, 2011 11:48 am
 

Michael Jordan's Bobcats partners want out

I hope they are not being short sighted in their investment.  All that team needs is the right leadership or MJ to learn the type of leadership needed to make it a world class organization.



Since: Oct 7, 2011
Posted on: November 6, 2011 11:50 pm
 

Michael Jordan's Bobcats partners want out

Losing millions just to say Im Jordans business partner doesnt sound like a smart decision for any business man smart enough to have actually EARNED millions not playing a game. Is that something you would actually brag about "yeah just lost millions BUT Mike is my partner". What a slap in the face to a country full of struggling people almost as bad as the chaos that is the Egos vs Owners!!



Since: Jul 18, 2007
Posted on: November 6, 2011 11:05 pm
 

Michael Jordan's Bobcats partners want out

I didn't see this in MJ's original statements, but maybe he is trying to hostile takeover the rest of the shares?  If you drive the team into the ground, either through bad managment (trading all of your "stars" and taking on bad contracts) or, maybe a lockout that kills revenue for a while, you can force out the rest of the owners at a lesser price.  So with a team that is worth less than pennies on the dollar now and making the Bobcats so toxic that the rest of the owners bail, he can then try fix things after the rest of the owners bail and he has majority ownership.

Rather bold strategy that seems to be working.  As much as I think MJ is a dick for selling out the people who made him (i.e. the players), it is a damn good business move as an owner.

Conspiracy theorist.....Every dumba$$ on the planet has one




Since: Apr 15, 2008
Posted on: November 6, 2011 3:56 pm
 

Michael Jordan's Bobcats partners want out

Come on folks; MJ is just following in the footsteps of his idol Zeke Thomas. The difference is that Thomas ran a once-proud franchise into the Hudson River, while Jordan is simply destroying an NBA team that has no history, hope or future. Good luck Mikey finding some chumps to pony up to lose millions for the privilege of being one of your partners.

Last time I checked the Charlotte franchise was struggling even before Mr. Jordan came around.



Since: Jul 29, 2009
Posted on: November 6, 2011 3:28 pm
 

Michael Jordan's Bobcats partners want out

Come on folks; MJ is just following in the footsteps of his idol Zeke Thomas. The difference is that Thomas ran a once-proud franchise into the Hudson River, while Jordan is simply destroying an NBA team that has no history, hope or future. Good luck Mikey finding some chumps to pony up to lose millions for the privilege of being one of your partners.



Since: Apr 15, 2008
Posted on: November 6, 2011 1:49 am
 

Michael Jordan's Bobcats partners want out

Sorry about that folks, CBS was on pause or something and my first post wasn't showing up.


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