Michael Jordan buys Bobcats

11 Comments

He still is Michael Jordan. He still has that aura.

How else can you explain him pulling in the needed investors to buy the Charlotte Bobcats, as AP is reporting? There’s a recession, team revenues are down, minority investors around the league’s other smaller-market franchises are trying to bail out, and there’s a looming work stoppage.

And yet he found people who wanted to go in with him and invest big bucks.

Traci Blunt, a spokeswoman for owner Bob Johnson, told The Associated Press that Jordan was able to put together an ownership group late Friday to buy the team he has been a part-owner of since 2006. Jordan has been running the team’s basketball operations.

David Stern is smiling about this one — another thing he can market.

This is not going to mean big day-to-day changes for the Bobcats on the court — MJ has had final say on all basketball decisions with the Bobcats for a while even as a minority owner.

What could change is on the business side. Can the aura of MJ draw in sponsors and better television deals? Or do they still have to be winning on the court for that to happen? That is what will ultimately determine if the aura of being around Mike wears off for those investors.