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NBA Approves Bobcats Sale To Jordan

NBA legend Michael Jordan is officially the majority owner of the Charlotte Bobcats. The league’s board of governors unanimously approved the sale of a controlling interest in the team to Jordan and MJ Basketball Holdings LLC. The group reached an agreement to purchase a majority interest of the club from owner Bob Johnson in late February. However, the deal still needed official approval from the league. Johnson, the founder of Black Entertainment Television, became the first black American to be the principal owner of a North American major-league sports franchise when Charlotte began play in 2004. Jordan, a five-time league MVP, joined the Bobcats in 2006 as the team’s managing member of basketball operations, the same position he held with the Washington Wizards earlier in the decade.

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