CHARLOTTE — Michael Jordan ain’t selling.
At least that’s what he is saying today.
The majority owner of the Charlotte Bobcats issues a declarative statement Sunday, denying he is contemplating selling the team he bought from Bob Johnson two years ago.
The New York Daily News reported Sunday that Jordan has contemplated selling the NBA’s worst team if it doesn’t improve in performance and profitability.
Jordan issued the following statement through the Bobcats today:
“I was disturbed to hear the false report that I intend to sell my majority interest in the Charlotte Bobcats. I am 100% committed to building the Bobcats into a contender and have no plans to sell the team.”
Though that purchase involved relatively little money up-front, Jordan took responsibility for a huge loan Bob Johnson took out to finance the $300 million-plus expansion team in 2004, according to the Charlotte Observer. The team’s financial situation has improved since Jordan took over, in terms of ticket and sponsorship sales, but Forbes magazine still estimates the Bobcats lose $10 million or more annually.
The Bobcats have the worst record in the NBA this season, 7-43.