The NBA Board of Directors unanimously approved Michael Jordan’s bid to buy the Bobcats today, according to the Associated Press.
Board Unanimously Approves Michael Jordan’s Bid To Buy Bobcats
Commissioner David Stern said in a statement that he was pleased the sale was “closed in such a smooth and expeditious fashion.”
Jordan, who is expected to look for minority partners, reportedly bought the team for $275 million, though he is also taking on more than $150 million dollars in debt.
Forbes had reported that the sale was for just $175 million, a figure the NBA disputed.
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