It has taken nearly nine months of negotiations that you knew little about, but the sale of the Charlotte Bobcats is nearly complete, according to the Charlotte Observer. As in done in the next few days.
Sources close to the situation anticipate a quick resolution, as to whether Bobcats managing partner Michael Jordan or ex-Houston Rockets president George Postolos will close a deal with majority owner Bob Johnson.
Jordan’s window of first-refusal to buy the team is close to expiration, sources say, and he was still recruiting partners this week to invest $260 million or more to complete a purchase of Charlotte’s NBA franchise.
The fact Jordan is still looking for investors at this late date implies it will be Postolos who will take over the franchise.
While his name is never followed with the phrase “greatest ever to play the game,” Postolos could be the better choice for Bobcats fans. Postolos has a record of success in team management — he helped negotiate the deal that brought Yao Ming out of China to the Rockets, he helped secure Toyota as the naming rights sponsor of the new arena in Houston. He knows how a team should be run.
Jordan sounds like more fun — especially for a blogger always looking for fresh meat to write about — but if the NBA is into this whole “franchise stability” thing then Postolos should be the choice.