Source: Jordan Paid $175 Million for Cats
Bob Johnson Purchased Franchise for $ 300 Million
When Bob Johnson sold the Charlotte Bobcats to Michael Jordan, he lost around $125 million dollars. According to Michael Ozanian, a National Editor at Forbes Magazine, "If NBA owners approve, Michael Jordan is going to buy controlling interest in the Charlotte Bobcats for a price that values the franchise at about $175 million."
Ozanian says, "this is a big blow to the NBA because current owner Robert L. Johnson paid an expansion fee of $300 million seven years ago and the league has several teams hunting for investors."
So far, details of the sale haven't been released and if what Ozanian is saying is accurate, the league may simply be too embarrased to admit the price.