Report: Bobcats Sale Could Happen Within Two Weeks

UPDATE, 2:30 PM: The reporter who broke this story now hears the Bobcats may not be sold at all.

One of a few NBA teams for sale -- the Charlotte Bobcats -- could change hands within two weeks, according to Rick Bonnell of the Charlotte Observer.

Bonnell reports founding owner Robert Johnson is in serious talks with George Postolos. Earlier this decade, Postolos worked as the president/CEO of the Houston Rockets, and was integral in getting the Toyota Center built. He also worked on the negotiations to bring Yao Ming to the NBA, and once that happened spearheaded Asian marketing campaigns for Yao and the Rockets. Prior to his work with Houston, Postolos was a special assistant to commissioner David Stern, working on legal matters.

It's safe to say that Johnson's run as an NBA owner, which began in 2004, hasn't been what he had in mind. The Bobcats have never made the playoffs, probably have never finished a fiscal year above water, and cannot seem to gain traction with the fan or business community in Charlotte.

The team has tried hard, for sure. The franchise focused on regional college stars, particularly UNC products, in early years to borrow the ACC enthusiasm in the area. It didn't work. Johnson hired Michael Jordan to run the show, hoping to borrow NBA fame to move the team forward. It didn't work. When the team spends money (Jason Richardson), it doesn't work. When it goes cheap, it doesn't work. Gerald Wallace is the only player from the inaugural Bobcats team left, and he's been on the trade market for a year. The team just has no traction.

There could be some structural, unavoidable issues at play. Or, the management system and style implemented by Johnson and Jordan might just not work. If Postolos manages to pull off the purchased, we'll find out.