Wednesday, April 15, 2009

Bob Johnson's Losing Proposition?

The Charlotte Observer reports that Charlotte Bobcats owner Bob Johnson recently went to his managing partners requesting a cash call of $28 million and the request was denied. The Bobcats are estimated to lose roughly $35 million over the next two years, and with an inferior basketball team, those fortunes probably won't improve in the foreseeable future. Despite having Michael Jordan running the team and Larry Brown as the coach, while the Bobcats are having their best season, the product is still bad by elite NBA team standards.

All parties involved will have to have patience with this business endeavor, but I hear Mr. Johnson hates to lose money, which is probably why he's a billionaire.

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