Charlotte Bobcats

The Charlotte Bobcats are based in Charlotte, North Carolina, USA. The team plays in the Southeast Division of the Eastern Conference of the NBA. The Bobcats were established in 2004 as an expansion team, two seasons after Charlotte’s previous NBA team, the Charlotte Hornets, relocated to New Orleans and became the New Orleans Hornets. The Bobcats play their home games at Time Warner Cable Arena in uptown Charlotte.

Charlotte’s NBA Development League team is the Maine Red Claws. The Bobcats were also the brother team of the Charlotte Sting of the WNBA before the Sting folded on January 3, 2007.

The Bobcats are currently owned by Michael Jordan. Robert L. Johnson, founder of Black Entertainment Television (BET) paid $300 million for the franchise in 2003. However, Forbes currently estimates the team’s value at $284 million. On February 27, Johnson announced that he was selling the Bobcats to a group headed by minority owner and basketball operations head Michael Jordan, pending league approval. On March 17, 2010, the NBA’s Board of Governors unanimously approved Jordan’s $275 million bid to buy the Charlotte Bobcats from Bob Johnson.