SBD/Issue 195/Franchises

Former Rockets President Postolos Expresses Interest In Bobcats

Postolos Showing Interest
In Acquiring Bobcats
Former Rockets President and Houston-based The Postolos Group (TPG) Owner George Postolos has "inquired about the Bobcats' availability and recently visited Charlotte to tour Time Warner Cable Arena and discuss the team's finances," according to sources cited by Rick Bonnell in a front-page piece for the CHARLOTTE OBSERVER. Postolos "doesn't appear to have the personal wealth to buy the Bobcats, but he would have the connections to assemble an investment group." Bonnell noted TPG's Web site indicates the group "actively seeks to acquire major league teams." Meanwhile, the "only other known potential bidder" is Bobcats Managing Member of Basketball Operations Michael Jordan. Sources said that others have "inquired but did not provide names of those interested" (CHARLOTTE OBSERVER, 6/28). In Houston, Jonathan Feigen noted Postolos in '06 said that he "hoped to be part of an investment group purchasing a team." NBA Commissioner David Stern at that time said that he "thought 'without a doubt' that Postolos eventually would own an NBA team" (HOUSTON CHRONICLE, 6/28).

THE JORDAN RULES: FanHouse.com's Kevin Blackistone said of Jordan possibly owning the Bobcats, "This is perfect for him and this is a good place to do it." Blackistone: "This is a franchise that’s been beat up, been beat up so much that it’s very cheap, valued at $284(M) right now which is less than what Bob Johnson actually bought it for.” Dallas Morning News columnist Tim Cowlishaw: “He’d be a great owner as long as his first order of business is to hire a GM and realize he’s not going to go spend the 80 hours a week working the phones and doing the things that the modern GM does" ("Around The Horn," ESPN, 6/26). ESPN’s Michael Wilbon said Jordan should own the team because “he hasn’t shown he can run the team" ("PTI," ESPN, 6/26).

STAYING ON: In N.Y., Julian Garcia reported Nets Sports & Entertainment President & CEO Brett Yormark, while "not ruling out the possibility of a sale" of the team, said that interest in buying a stake in the team has "increased only because of the team's impending move to Brooklyn and not because" Nets Owner Bruce Ratner is looking to sell. Yormark: "The current ownership group remains committed to the Nets and to Brooklyn and the Barclays Center" (N.Y. DAILY NEWS, 6/27).

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