Jordan takes big gamble on Bobcats

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Michael Jordan’s gambling penchant is almost as legendary as his game. But his move last Friday is the biggest financial gamble of his life — he bought an NBA franchise.

Like a lot of small market teams, the Charlotte Bobcats are losing money, with ticket sales and sponsorship revenue down in this economy. The Bobcats have been racking up debt under former owner Bob Johnson, and according to a great story by Henry Abbott at TrueHoop, Jordan now has the responsibility for those problems.

One source close to the process says that two things changed late in the game (to make Jordan’s deal come together). One is that some of the minority owners under Johnson agreed to stay on with Jordan in the lead role (which is reflected in David Stern announcing that a majority of the team had been transferred). And, most importantly, Jordan finally decided to put himself forward as the person who would pay the many bills as they arose. It’s unknown if he brought in any new owners at all. But what sources agree on is that Jordan vastly increased his own stake in the company, to the point that Stern is now calling him the “principal owner.”

Joel Litvin, NBA President, League and Basketball Operations says “we expect that this transaction will value the Charlotte Bobcats between $275-290 million.” The Wall Street Journal explains that much of the purchase involves Jordan taking on debt.

As Abbott points out, for the last few years Jordan has had a fun toy to play with. He got to make decisions — he was the final say on all things on all things basketball — without having to pay the price. That fell to Johnson. When a minority owner decided not to chip in for his share of the losses, Johnson had to cover it. Jordan is estimated to be worth roughly $400 million — that’s a lot of money, but you burn through it fast if the team is losing $40 million a year.

Jordan is gambling again. Gambling that he can make good basketball decisions that will put a winner on the court and draw more fans. So far his record as a front office executive is spotty — he’s been fired once, but this year the team is playoff bound and exceeding expectations. Building this team cheaply will not be easy as it has traded away a lot of draft picks for upcoming years.

Jordan also is gambling he can find more investors. Some people to sit by, get to bask in the Jordan aura, and fork over big checks to do it. Checks to cover the operating losses and debt that are going to take a few years to get rid of (at best). Making that sale is going to be a lot tougher than selling Hanes T-shirts.

But, do you really want to bet against Jordan pulling it off?

Marquese Chriss blocks Bobby Portis, who gets testy (video)

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Bobby Portis didn’t enjoy getting blocked by Marquese Chriss. And Portis sure didn’t appreciate how Chriss fell on him.

But it was all worth it (for me, at least) just to see the Bulls forward make a face that reminded me of this:

Dwyane Wade with dagger dunk to seal Bulls win vs. Suns (VIDEO)

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The time off during the All-Star break did Dwyane Wade some good.

The Bulls guard turned back the clock on Friday night, leading the Bulls with 23 points and topping it off with this dunk that proved to be the dagger, sealing a Chicago win. The Suns were convinced Wade was going to run the shot clock way down before making his move and they lollygagged into position — so he just blew past everyone for the poster slam.

The Bulls won 128-121. Devin Booker led the Suns with 27.

DeMarre Carroll shoves Isaiah Thomas to ground on break, tempers flare

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Atlanta’s DeMarre Carroll picked up a deserved flagrant for this foul.

With a couple of minutes left to go in the second quarter, Isaiah Thomas made the steal when DeMar DeRozan lost the ball on a drive, and Thomas was off to the races. Trying to prevent a lay-up, Carroll decided to foul Thomas far from the basket, but did so with a forearm shove that sent Thomas sprawling on the ground.

Thomas got up and had words, as did Jae Crowder.

Carroll got a flagrant and a technical, Thomas and Crowder each picked up technicals for jumping in.

Seth Curry puts up career high 31 against Timberwolves (VIDEO)

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When Stephen Curry wore a headband through the All-Star Game last weekend, West coach Steve Kerr jokingly called him “Seth” all night.

Dallas’ Seth Curry came out of the week-long break playing like an All-Star. He dropped 31 on the Minnesota Timberwolves Friday night, a career high for him. He hit 13-of-17 from the field, including three from beyond the arc, but did a lot of his damage in the midrange.

It wasn’t enough, the Timberwolves got a comfortable 97-84 win behind 27 points from Andrew Wiggins and 26 from Karl-Anthony Towns. Nerlens Noel was not yet with his new team in time to play for the Mavs in this game.