The Charlotte Bobcats are Charlotte, North Carolina based a professional basketball team. Charlotte Bobcats belongs to the Southeast Division of the Eastern Conference in the NBA. The Bobcats were established in the year 2004 as an development team, just after two seasons Charlotte's previous NBA team, the Charlotte Hornets, relocated to New Orleans and became the New Orleans Hornets. The Bobcats played their home games in uptown Charlotte at Time Warner Cable Arena.
Charlotte's Bobcats National Basketball Association Development League team is the Maine Red Claws. The Charlotte was also the brother team of the Charlotte Sting of the WNBA before the Sting folded on 3rd January, 2007.
At this time Bobcats are currently for sale by majority owner Robert Johnson. In the year 2003, Johnson paid $300 million for the franchise. However, according to Forbes current estimate of the team's value is $284 million. Michael Jordan is a minority owner and head of basketball operations, has shown a lot of interest in putting together a group to purchase majority control in Charlotte Bobcats.
In the year 2003 June, the new team was named the Bobcats. According to Fan Votes Bobcats, along with Charlotte Flight and Charlotte Dragons were the top three choices. Over 1,250 suggestions were drawn by The Charlotte Regional Sports Commission aided with the "Help Name the Team".