WRAL Sports Fan

Bobcats

Johnson looking to sell Charlotte Bobcats

By Dane Huffman

May 22, 2009

Bob Johnson is looking to sell the Charlotte Bobcats, WBTV in Charlotte has confirmed.

Sal Galatioto, president of Galatioto Sports Partners, told WBTV he is representing Johnson in the sale of the Bobcats and that Johnson, who founded Black Entertainment Television, has too much going on to give the team the attention it deserves.

Galatioto said this isn’t the best time to be selling an NBA franchise, given the economy, but that the Bobcats have had some inquiries and would see what developed.

The Bobcats came to Charlotte after the Hornets left for New Orleans. But high ticket prices and poor teams have contributed to lagging interest in the team.

The Hornets started in 1988 and had huge crowds at the Charlotte Coliseum, often leading the NBA in attendance. But fans became disenchanted with owner George Shinn and interest in the team fell. Shinn moved the team to New Orleans in 2002 and remains the owner there.

The NBA moved quickly to put a new team in Charlotte, awarding an expansion franchise to Johnson. The Bobcats began play in 2004 but never recaptured the interest of the Hornets' early seasons. Interest lagged despite the team moving into a downtown arena and efforts to connect with the large UNC fan base by bringing in Michael Jordan as part owner, Larry Brown as head coach and acquiring UNC players like Raymond Felton and Sean May.