Here's an article that we just found out about:
Bob Johnson’s ownership of the Bobcats team was rocky from the beginning Since he paid the NBA $300 million for the expansion franchise in 2003, the founder of Black Entertainment Television hasn't come close to turning a profit because of poor attendance, lagging sponsorship sales and a failed attempt to start a regional sports television network
The team’s attendance averaged just over 14,000 per game and ranked 26th of 30 NBA teams last year...
Go read about - Charlotte Bobcats Ownership Transfers to Legend and Local Son Michael Jordan