CHARLOTTE, N.C. — Michael Jordan’s $275 million purchase of the Charlotte Bobcats should be approved by the NBA by the end of next week, Commissioner David Stern told the Charlotte Observer on Friday morning.
Speaking publicly for the first time since Jordan agreed to buy control of the team from Bob Johnson, Stern pegged the price at $275 million — $25 million less than Johnson originally agreed to pay for the expansion franchise in 2002.
In a telephone interview, Stern said that drop in value is appropriate, due to the circumstances.
“I think it’s fair to say it’s struggled in Charlotte,” Stern said. “There was a late start on the building’s naming rights and the local cable deal. It didn’t start as well as we would have liked or Bob Johnson would have liked.
“Between that and the general state of the economy, it was appropriately priced — $275 million is the right ballpark price of it.”
Stern said part of the league’s incentive for a quick approval process is Jordan’s urgency to start fixing things. Stern said Jordan told him emphatically during a recent meeting that he’ll put in the time and focus to address what ails a team in the bottom third of the NBA in attendance.
“He has a vision of making this back into a community asset,” Stern said. “He considers himself a native of North Carolina, even though I tease him about being born in Brooklyn, and he’s a pretty competitive person. He knows he can add value to that franchise, to continue its growth.”
Jordan has not spoken publicly since agreeing at nearly midnight Feb. 26 to buy the franchise from Johnson, risking his own wealth that he can reinvigorate a franchise losing tens of millions annually.
Previous to this, Jordan was a minority owner, with oversight of basketball operations.
Karl to miss more games
DENVER — George Karl will skip the last three games on the Denver Nuggets’ road trip as he adjusts to a feeding tube that was placed into his stomach as part of his cancer treatment. The Nuggets coach has already missed two games since being diagnosed with neck and throat cancer last month. He is undergoing a rigorous six-week treatment program of radiation and chemotherapy. His assistant, Adrian Dantley, will coach the team when the Nuggets play in New Orleans on Friday night, Memphis on Saturday and Houston on Monday.
Alston done for the year
MIAMI — Rafer Alston’s season with the Miami Heat is officially over. Alston was moved to the suspended list by the Heat late Friday night, one week after he left the team without telling any member of the organization why. Alston told ESPN earlier this week that his departure stemmed from a personal matter involving his sister. He still has not explained the absence to the team, Heat president Pat Riley said in a statement released Friday night after Miami beat Chicago.
Harden out with bum hamstring
OKLAHOMA CITY — Oklahoma City Thunder coach Scott Brooks says rookie guard James Harden will miss two to four weeks with a strained right hamstring. Oklahoma City called up Kyle Weaver from the Tulsa 66ers to replace Harden, who has played in 63 games and is averaging 9.9 points and 3.3 rebounds in 23 minutes. Weaver started 19 games last season for the Thunder.
Heat suspend Wright
MIAMI — Dorell Wright has been suspended for two games by the Miami Heat, one day after he was cited for driving under the influence. Heat president Pat Riley says Wright’s conduct was “detrimental to the team.” Wright will not be with the Heat for home games Friday against Chicago and Sunday against Philadelphia. Wright was charged Thursday morning with DUI and driving with a suspended license after traffic stop in Miami Beach.
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