Bob & Leave?

Johnson Looking To Sell Bobcats After Six Years

In a move that surprises no one, Bobcats Owner Bob Johnson hires sports investment banker Sal Galatioto to help facilitate a sale of the beleaguered franchise that reportedly is expected to lose around $35M in the next two seasons. Johnson is said to be committed to selling the team, as he has "lost passion" for owning it. And despite comments last month that he would like to sell a controlling interest to Bobcats exec Michael Jordan, Johnson reportedly has begun looking for other potential buyers at an asking price of $325-350M, which approximates his initial investment in '03. But don't get too excited, Seattle. Any ownership change is unlikely to result in the Bobcats moving, as the team's lease calls for "severe financial penalties" for leaving Time Warner Cable Arena.

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