Posted by djsunyc:
Johnson Seeks Buyer For Bobcats
May 22, 2009 9:41 AM EST
Bobcats majority owner Bob Johnson has increased his efforts to sell the team.
Johnson recently hired a sports investment banker to help him look for potential buyers.
Last month, Johnson told the News & Observer that he wanted to sell his stake to minority owner Michael Jordan. However, since then NBA sources claim that Johnson has begun looking for other buyers.
A source close to Johnson said, "It's true, he's committed to selling the team," adding, "He's lost passion" for owning it.
why the f ck would you put a team in charlotte when teh previous one failed too? this is ridiculous.
[Edited by - djsunyc on 05-22-2009 09:56 AM]
Dj,
Hornets lead the league in attendence for 7 years. With LJ and Zoe the team was loved in charlotte.
W'happen? George shin is an ass. He out sold Zoe for glen rice and traded away LJohnson. He DEMANDED a new building after 10 years!!!!! The big arena held 23k but did not have the goodies new ones do. Orlando and Charlotte areans were the last ones build with lots of boxes.
George shinn had a big public sex harassment suite which turns off a lot of people. The big thing that happened was a few minor incidents in with charlotte with Panther players got some bad press. Then three events, Shinn starts threating to move team after he refuses to sell more than 49% to Jordan. Jordan ends up a minority owner with the Cats. Jordan bluffed and lost trying to get the higher stake.
The public still supported the team but hates Shinn.
Then Rae Curruth does his murder thing and Bobby Phils dies in a sensless car race with another player after practice one day. Voters are willing to do new arena but not for george shinn. Attendance plummets as team is seen as lame.
BobCats get new arena but no Zoe like draft pick and conservative ownership has the team getting off the ground slow. Charlotte Corp support comes from financial sector which we know is hurting.
The city loved the hornets but the events that bought that together cannot be repeated. IT was Charlottes first pro team and it got huge corp. support. Shinn in New orleans was just plain dumb even before Katrina.
The idea was good but execution was awful. Bobcats drafting has been suspect and Jordan the Executive with his minions running the team does not effect good ownership. Johnson has been tight with money and marketing the team has not been effective.
[Edited by - nalod on 22-05-2009 10:38 AM]
