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Michael Jordan Bails Out a Billionaire
The Daily Beast ^ | 04/01/10 | Peter Lauria

Posted on 04/01/2010 9:15:34 AM PDT by OldDeckHand

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First, this couldn't happen to a more deserving Democrat money-man (Bob Johnson). And second, I'm surprised that Jordan is astute enough to pull this off himself. While a NBA franchise is probably definitely a poor investment choice, a NBA purchased for a pittance of $25 million, isn't.

Sure, Jordan has to assume the franchise debt which is somewhere north of $250 million, still - it's a good price.

1 posted on 04/01/2010 9:15:34 AM PDT by OldDeckHand
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To: OldDeckHand

Wow I’m surprised Oprah didn’t help with all her Billions...


2 posted on 04/01/2010 9:17:27 AM PDT by Freddd (CNN is down to Three Hundred Thousand viewers. But they worked for it.)
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To: Freddd

My first thought as well.


3 posted on 04/01/2010 9:19:25 AM PDT by Tallguy ("The sh- t's chess, it ain't checkers!" -- Alonzo (Denzel Washington) in "Training Day")
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To: OldDeckHand
Debt is racist!

(did I do that right?)

4 posted on 04/01/2010 9:19:34 AM PDT by ikka
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To: OldDeckHand

Bailed out? Sounds to me like he got his pants pulled down, smacked, and left twisting in the wind. MJ is a shrewd operator and took full advantage of an incompetent businessman.


5 posted on 04/01/2010 9:20:05 AM PDT by AbeKrieger (If you believe in manmade global warming, you lack reason.)
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To: Freddd
Wow I’m surprised Oprah didn’t help with all her Billions...

Maybe that's how one "keeps it real"?

6 posted on 04/01/2010 9:24:19 AM PDT by End Times Sentinel (In Memory of my Dear Friend Henry Lee II)
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To: OldDeckHand

wonder what sucked this billionaire down so badly?


7 posted on 04/01/2010 9:28:00 AM PDT by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: OldDeckHand

Actually, I think Johnson is a Republican.


8 posted on 04/01/2010 9:28:17 AM PDT by DallasDeb (USAFA '06 Mom)
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To: Freddd

Oprah? I’m surprised Barack Obama didn’t bail him out!


9 posted on 04/01/2010 9:30:01 AM PDT by mothball
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To: OldDeckHand

From all that I have read about Michael Jordan, he is very smart, very tough, very competitive - in all fields.


10 posted on 04/01/2010 9:30:16 AM PDT by karnage (worn arguments and old attitudes)
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To: OldDeckHand

Johnson’s wife received four hundred million dollars in a divorce settlement and then married the judge who handled the divorce proceedings.
Nothing questionable about that outcome.


11 posted on 04/01/2010 9:30:32 AM PDT by em2vn
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To: DallasDeb
"Actually, I think Johnson is a Republican."

Absolutely, unequivocally not. He was a BIG TIME money-guy for Bill & Hilary. You might be a little misdirected because Johnson had some unflattering things to say about Obama during the 2008 primary campaign. But, he said them while speaking at a Hilary Clinton campaign stop. Bob Johnson has been, and continues to be a Democrat.

His ex-wife, Debra Johnson (I think that's her name), although a Democrat and Obama supporter, did endorse Bob McDonnell in the VA governors race last fall. She based her endorsement primarily on economic concerns in VA.

12 posted on 04/01/2010 9:32:30 AM PDT by OldDeckHand
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To: OldDeckHand

>> the 63-year-old founder of BET

Made his money off of racism.

Couldn’t happen to a more deserving scumbag. Hope he ends up under a highway overpass.


13 posted on 04/01/2010 9:35:16 AM PDT by Nervous Tick (Eat more spinach! Make Green Jobs for America!)
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To: OldDeckHand

....he aint no billionaire!!!! ha ha hahahahaha...
What happened? Obama wipe out his assets leaving him only with billions in debt?

“Indeed, three sources specifically involved with the team sale said Johnson was eager to ink a deal before an upcoming interest payment on the team’s $40 million in bank debt, so he could save the cash, even though it was only for a few million dollars”

kinda reminds me about the guy looking at the motorhome or yacht wondering miles per galon...


14 posted on 04/01/2010 9:35:36 AM PDT by himno hero
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To: Nervous Tick

now, now.


15 posted on 04/01/2010 9:36:09 AM PDT by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: DallasDeb

Not if you’ve ever watched BET he’s not.


16 posted on 04/01/2010 9:38:29 AM PDT by Ro_Thunder ("Other than ending SLAVERY, FASCISM, NAZISM and COMMUNISM, war has never solved anything")
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To: Ro_Thunder

He hasn’t owned it since 2000 when he sold it to Viacom. He has supported the Clintons in the past, but otherwise seems to support Republicans.


17 posted on 04/01/2010 9:41:30 AM PDT by DallasDeb (USAFA '06 Mom)
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To: HiTech RedNeck

>> now, now.

Now would be just fine with me.


18 posted on 04/01/2010 9:43:54 AM PDT by Nervous Tick (Eat more spinach! Make Green Jobs for America!)
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To: All

Buying a sports team is the first thing a rich black man wants to do.

I’ve watched enough Cribs. I learned that rich blacks have “Entertainment Centers” and the few rich whites that show has featured have “Book cases”.

I see how it works. I really do.


19 posted on 04/01/2010 9:44:18 AM PDT by Celerity
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To: DallasDeb

Big Hillary supporter. Did NOT like Obama.

As a businessman, I think he saw right thru The One.


20 posted on 04/01/2010 9:46:25 AM PDT by Retired Greyhound
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