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00:00So you then bought, as you mentioned earlier, the Charlotte Bobcats, a new team. You didn't know much about running a basketball team, I assume. So you brought in a guy named Michael Jordan. How do you tell Michael Jordan that he doesn't know much about basketball? If the thing isn't working out perfectly, can you say, Michael? I played in grade school and I know something about basketball. How do you tell Michael Jordan things aren't working perfectly? When if it doesn't work perfectly, you don't. OK. So just let him run the team and you basically own it. And he more or less was the manager of it. He was the he was the general manager of it. And he decided on who he's going to hire is going to decide what players you're going to draft. And he does that and on how the team would be be run. I was the pay and the player in this game. So when you sold your NBA team, the Charlotte Bobcats, the price of NBA teams had not risen to the billion dollar range. Any regrets about selling it when you sold it? Definitely. Any regrets at that? Tell Michael about that all the time. But nobody could have predicted that Don Sterling would say what he said about black people. And that led to the NBA commissioner to say we've got a huge racial problem if we can keep Don Sterling as an owner. And he basically forced Donald Sterling out. But being forced out and you walk away with a two billion dollars, you know, a lot of people like to be forced the team for that price. And so that was it. But it Michael was always my first choice to sell the team. He and I've been friends, you know, 10, 15 years before I even own the team. Really? So, you know, I want to if anybody I wanted to sell the team to, I was forced to sell it to Michael.

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Why Bob Johnson Sold Charlotte Bobcats to Michael Jordan

Bob Johnson, BET founder and RLJ Companies chairman, talks about hiring Michael Jordan as general manager to help him run the NBA's Charlotte Bobcats. Johnson would eventually sell the expansion team to the NBA hall-of-famer. Johnson spoke on "The David Rubenstein Show: Peer-to-Peer Conversations" recorded Nov. 23 in Palm Beach, Florida. (Source: Bloomberg)

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