I don't think he really needs cash flow from the team. The investment has been well worth it based on the appreciation of the franchise.
He'll make out like a bandit when he gets rid of the team. I somewhat doubt he will be interested in being a forever owner. Although he has been involved at some level in NBA basketball for most of his life, at this point.
Absolutely. Bought the boat cheap and then caught the tide that lifted all boats...his boat has definitely increased in value.
On paper, yes. From a cash flow perspective, definitely not.
For him the Bobcats have been the same as a house in a Dilworth.
A lot of folks bought houses right in Dilworth...and while the area has exploded and home values have skyrocketed, the longer-term homeowners have only written checks to maintain the home, and pay the mortgage, etc...
...until they sell their gains are only on paper.
MJ first invested 15 years ago and the team has been a consistent money-loser over the course over that time-frame. He may have actually been able to deposit some cash in his personal account with the partial sale of the team to the 2 NYC hedgies but that's the only material cash in-flows he's seen since 2006.