Michael Jordan, already the director of basketball operations and a minority owner of the Charlotte Bobcats, has agreed to purchase majority owner Robert Johnson’s share of the franchise.
Board Unanimously Approves Michael Jordan’s Bid To Buy Bobcats
The NBA Board of Directors unanimously approved Michael Jordan’s bid to buy the Bobcats today, according to the Associated Press.
Commissioner David Stern said in a statement that he was pleased the sale was “closed in such a smooth and expeditious fashion.”
Read Article >NBA Set To Approve Michael Jordan As Bobcats Owner
Stern said Friday that he expect’s the league’s board of governors to approve Jordan as the league’s first player-turned-owner in a vote expected to take place next week.
The league has already approved His Airness for ownership of the Bobcats, which he purchased for a reported $275 million from former owner Bob Johnson.
Read Article >League Disputes Forbes Report, Maintains Michael Jordan Bought Bobcats For $275-$290 Million
Michael Jordan Reportedly Buys Controlling Interest Of Bobcats At $175 Million Valuation
Michael Jordan Reaches Deal To Purchase Charlotte Bobcats
Jordan was already minority owner and the director of the team’s basketball operations. There’s no word yet on whether he’ll remain in that capacity or focus on ownership; perhaps the latter would be more ideal. After all, when an owner trusts only himself with the operations of the franchise, it usually doesn’t end well.
Read Article >
