Bobcats owner not selling teamPosted by Inside Hoops
The AP reports: The first black majority owner of a major professional sports team is not interested in selling, even as he loses millions in a bad economy. Bob Johnson said Monday he remains committed to the Charlotte Bobcats, who have struggled to win and attract fans since he paid $300 million for the expansion franchise four years ago. Johnson laid off nearly 40 employees in the past month to save money, and three top executives have left the organization. But in an interview with The Associated Press, Johnson said he has no intention of unloading the team, and will spend what it takes to get the Bobcats to the playoffs for the first time.