Charlotte Bobcats owner Robert Johnson was once a billionaire but Forbes estimated that his worth fell to only $550 million last year. He's been trying to unload the Bobcats since last summer and minority owner/team president Michael Jordan has always been interested. When Johnson put the team on the block, Jordan apparently negotiated for the right of first refusal. Now Jordan has got to come up with some cash quickly if he wants to do it, according to ESPN.
Former Houston Rockets president and CEO George Postolos has apparently put his second offer on the table (his first one supposedly fell apart last year) and Jordan has till the end of February to match it.
It remains to be seen if the investors who are working with Jordan either have the dollars or inclination to match the offer by Postolos.
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