Bill Simmons noted this idea on an article for Grantland, and quite honestly, it's completely brilliant. Jerry Reinsdorf has to be blocking this move with all his might.
The Charlotte Bobcats never should have happened. You know how I know this? Because Michael Jordan spent about 20 bucks in actual cash to buy them two years ago, that's how. If the Bobcats break their stadium lease and move somewhere else, they'd have to pay the city of Charlotte $150 million. So it would make no sense to move them, unless … you know … Jordan moves them to Chicago (where he still lives), plays in the United Center (where he has a giant statue), ropes Oprah into being a minority owner, then quickly becomes a well-run version of the Clippers to the Bulls' version of the Lakers.20 Not only would they cover the $150 million pretty quickly, but that would give the league six teams in the three biggest TV markets. And that's a bad thing … why?21
The Bobcats aren't that good, don't have a bright future, and may not be run well, but if you let them play in the United Center, and they could sell out the stadium every night right now charging what the Bobcats do (1/3rd as much as the Bulls).
Through Michael Jordan in the crowd, and it's on like Donkey Kong. He's Chicago's greatest athlete, and let's face it, there are a huge percentage of casual Bulls fans more loyal to Jordan than to the Bulls.
Jerry Reinsdorf's influence and Derrick Rose's badassedness are the only two things that would stop this from being a slam dunk. However, the league might rule against Jerry because the move makes so much sense, and Derrick Rose's career won't last forever.
Now imagine renaming the team to the Jumpmen, getting a massive Nike endorsement and using Jordan's logo as the team logo. I can't imagine how much Nike would pay for that to go down if the idea passed through league offices which would be dicey.
However, that's kind of a sidebar.
Jordan would sell in Chicago. If they ever landed a franchise star, the Bobcats would rake in unbelievable profits in Chicago, because ultimately, while we probably wouldn't switch from the Sox to Cubs (or vice versa), many would consider switching from the Bulls to Jordan's team, because Jordan's the reason so many fans love the Bulls anyway.
It wouldn't feel like a betrayal to root for Jordan. It'd feel completely natural.
The NBA needs to make this happen. I would love for this to happen. Of course, the Bulls should be cringing about this happening.