Jordan Paid $25M Cash For Charlotte Franchise

Last week the media went nuts over a Forbes.com report from Michael Ozanian that claimed Michael Jordan bought the Charlotte Bobcats from Robert Johnson for only $175M - after Johnson originally paid $300M for the team.

Michael Jordan Worst Jeans Ever

More alleged details from Ozanian on the deal have since emerged. Read more…

Bobcats Owner Not Really Into Whole NBA Thing

It’s a pretty safe bet that if you make Mark Cuban look like the most refined and respected franchise owner in the room, you are probably not the shining beacon of NBA ownership.  Speaking on CNBC’s Squawk on the Street (link is to video) in an interview intended to be about the league’s 9% labor reduction, Charlotte Bobcats owner Bob Johnson set a new record for feet in his mouth.

Bob Johnson

Johnson, who made his fortune primarily as the founder of Black Entertainment Television, opened the segment by making a joke about his team not being good, which is actually true, but certainly not confidence-inspiring coming from the owner.  Later in the segment, when asked what he was doing about ticket prices in the NBA, a question Cuban answered directly, Johnson had this to say (after the jump): Read more…

Ecomony Causing Bobcats to Bounce Employees

The U.S. economy is looking pretty grim at the moment. As Congress bickers over putting together a financial bailout plan, Washington Mutual was seized by the government late Thursday after it became the biggest US bank ever to collapse.

Charlotte Bobcats mascot Rufus

(Charlotte Bobcats mascot Rufus saves gas money by biking to work)

Figures that such financial strain would soon rear its head in the sports world. And that’s bad news for employees of the Charlotte Bobcats, as the young NBA franchise is on the verge of cutting a whole bunch of team jobs.

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