Minority Stake In Bobcats Reportedly For Sale; Jordan Expected To Remain Majority Owner

Some of Bobcats Owner Michael Jordan's partners are "looking to get out of the troubled pro basketball business," as a minority stake in the team "has recently been put up for sale," according to sources cited by Mitch Lawrence of the N.Y. DAILY NEWS. Sources said that how much of the team is on the market and which of Jordan's partners is "looking to get out isn’t known," although one potential suitor "has told business associates that he had been approached about buying '50% of the team.'" Jordan is "majority owner of the team, which has been losing an estimated $7 million per season in recent years." A source said, “Michael isn’t going anywhere, but there are other people in his group that want to get out. There’s a big piece for sale” (N.Y. DAILY NEWS, 11/5).