Michael Jordan released a statement Sunday denying a report earlier in the day that he's threatened to sell the Bobcats if the team is unable to turn around its fortunes and become profitable in the near future. His statement in full, courtesy of HoopsWorld:
"I was disturbed to hear the false report that I intend to sell my majority interest in the Charlotte Bobcats. I am 100% committed to building the Bobcats into a contender and have no plans to sell the team."
Whether Jordan is telling the truth of not, his denial was predictable -- he simply couldn't have let the report linger without addressing it one way or the other. According to the New York Daily News, Jordan has tasked general manager Rich Cho with improving the team and stemming the franchise's financial losses, which reportedly totaled $20 million last season. From the Daily News:
"I told Rich to make us better," Jordan told one associate recently. "If that doesn't work and I can't make a profit in the next three to four years, then I'm selling."
After losing in overtime in Detroit on Saturday, the Bobcats are just 7-43 on the season, the worst record in the NBA by a wide margin.
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