Report: Michael Jordan Threatens To Sell Charlotte Bobcats
After six years in the owner’s box running the Charlotte Bobcats, Michael Jordan is hinting that he wants out.
“I told [GM Rich Cho] to make us better,” Jordan said recently, according to Mitch Lawrence of the New York Daily News. “If that doesn’t work and I can’t make a profit in the next three to four years, then I’m selling.”
Jordan bought a minority stake in the Bobcats on June 15, 2006. In the six seasons since, the team has made the playoffs just once, in 2010, and was emphatically swept in the first round. This year’s ‘Cats are 7-42, by far the worst record in the NBA.
The Bobcats lost $20 million last season, and they’re expecting more of the same this year.
Jordan sought majority ownership of the Bobcats in February 2010 and was approved on March 17. Just two years in, he’s already looking for a buyer to bail him out of half his stake in the team.