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View Full Version : Charlotte Bobcats Sold For Just $175 Million



JordansBulls
03-04-2010, 02:45 PM
Link (http://blogs.forbes.com/sportsmoney/2010/03/charlotte-bobcats-sale-embarrassing-for-nba/)



If NBA owners approve, Michael Jordan is going to buy controlling interest in the Charlotte Bobcats for a price that values the franchise at about $175 million. This is a big blow to the NBA because current owner Robert L. Johnson paid an expansion fee of $300 million seven years ago and the league has several teams hunting for investors. Other than right here, I doubt you will see a price for a long, long time in the media. Usually, when a team is sold related stories include estimated prices, frequently leaked by the NBA or someone involved with the transaction. I searched Google but could not find one story that mentioned the price. The NBA is embarrassed about the $175 million valuation. And rightfully so.

ChiSox219
03-04-2010, 03:01 PM
That's fair value based on the Charlotte market, the economy, and the leagues future instability. Simmons mentioned a wealthy friend wouldn't buy a franchise because he thought they were overvalued and I think the number quoted was $250m was too much or the highest he'd pay.

masalex1205
03-04-2010, 03:03 PM
Im pretty sure the franchise has massive debt too, like something over 100 mil which Im assuming Jordan would have to take on

Jaji
03-04-2010, 03:06 PM
Dang I should have jumped on this.

smith&wesson
03-04-2010, 03:19 PM
****, david beckham is worth almost two times the amount the charlotte bobcats are. thats crazy.

thescore53
03-04-2010, 03:46 PM
wtf my house cost more than the bobcats

coloradobuff
03-04-2010, 03:54 PM
they will stink for few more years still

MaHaRaJaH
03-04-2010, 03:57 PM
****, david beckham is worth almost two times the amount the charlotte bobcats are. thats crazy.

And Still have enough cash for a couple of Max Contracts.

Big Quett
03-04-2010, 09:16 PM
If NBA owners approve, Michael Jordan is going to buy controlling interest in the Charlotte Bobcats for a price that values the franchise at about $175 million. This is a big blow to the NBA because current owner Robert L. Johnson paid an expansion fee of $300 million seven years ago and the league has several teams hunting for investors. Other than right here, I doubt you will see a price for a long, long time in the media. Usually, when a team is sold related stories include estimated prices, frequently leaked by the NBA or someone involved with the transaction. I searched Google but could not find one story that mentioned the price. The NBA is embarrassed about the $175 million valuation. And rightfully so.

It says controlling interest. That means its just a portion of it. He is just the majority owner. Most NBA teams are jointly owned.

AIsixersFK
03-04-2010, 09:23 PM
lebron will make this much this summer. they shoulda just gave lebron the keys to the franchise FO and ownership