# B. Johnson steppin up attempts to sell Bobcats



## nutmeged3 (Apr 11, 2005)

> Charlotte Bobcats majority owner Bob Johnson has stepped up efforts to sell the team, recently hiring a sports investment banker to look for a buyer.Sal Galatioto, president of New York-based Galatioto Sports Partners, confirmed to the Observer Thursday that he's representing Johnson in a potential sale.
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> Galatioto declined to comment further on the situation.Johnson told Observer columnist Scott Fowler last month that he'd like to sell controlling interest to minority owner Michael Jordan, the former NBA star who oversees the team's basketball operations. Since then, according to multiple NBA sources, Johnson has begun looking for other potential buyers.Jordan wasn't available for comment Thursday.
> 
> An NBA spokesman confirmed that the league is aware Johnson is seeking investors and that Galatioto is assisting him.


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Goes onto say he just isn't into owning hte team anymore. Didn't take long but I'd really like to know when he was actually into owning them. When he finally had to throw out all his cash to re-sign our young players and realizes it's a ot harder to gain money after Shinn he wants to dip. Hopefully this works out and we get to keep the team in Charlotte


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## Diable (Apr 26, 2005)

Jordan can probably afford it,at least he can probably afford to become the majority owner.I don't think he'd want to tie up everything he has in owning a huge percentage of the team.The question is going to be how reasonable Johnson will be.If he wants to sell it and he can't find someone who wants a prostate exam and an NBA team then bobby boy is going to lose a good deal of money.The team simply isn't worth what he has put into it and he's been losing money too I'm sure.

Pretty sure that the league would prefer another black person would buy the team.They certainly went out of their way to get Johnson the team.Of course they then proceeded to give it to him with a redhot poker and pretty much guaranteed that he would fail unless he made really good decisions.Obviously he did not


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## urwhatueati8god (May 27, 2003)

> "The city may seek an injunction to force the team to honor the commitment to play here, or can enforce liquidated damages of $200 million in the first five years (2005-2010), $150 million in years five to 10, and a declining balance going from $85 million in year 11 down to $7 million in year 25."


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