NBA Approves Jordan’s Purchase Of Bobcats
Michael Jordan left the hardwood for good in 2003 but he is still making NBA history.
Today he became the first former player to be a majority team owner in the NBA when his $275 million bid to buy the Charlotte Bobcats was unanimously approved by the league’s Board of Governors on Wednesday.
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Jordan will take over the money-losing team immediately from Bob Johnson after serving as a minority investor with the final say on basketball decisions since 2006.
“Purchasing the Bobcats is the culmination of my post-playing career goal of becoming the majority owner of an NBA franchise,” Jordan said in a statement. “I am especially pleased to have the opportunity to build a winning team in my home state of North Carolina.”
