Michael Jordan to buy Charlotte Bobcats 01/03/2010 |
|
| |
| |
Michael Jordan has agreed to buy a controlling stake in National Basketball Association (NBA) team the Charlotte Bobcats.
Bobcats owner Robert Johnson announced the sale to MJ Basketball Holdings LCC, a group headed by the former Chicago Bulls legend and North Carolina native, although the deal still has to be approved by NBA owners.
NBA commissioner David Stern said: “We have been anticipating an agreement for transfer of a majority interest in the Bobcats and are pleased it has occurred.
“Bob Johnson brought the excitement of the NBA back to Charlotte and I am certain that as Michael Jordan returns to his home state as the principal owner of the Bobcats, the team will continue its growth as a success on the court, as a business success and as a valued community asset.”
Johnson paid $300m for the team in 2003 and it was valued at $278m by Forbes Magazine in December. Financial terms of the Jordan deal were not disclosed.
Jordan has been a part-owner of the Bobcats since 2006 and has also been running the team’s basketball operations.
|
| Back |
| |
| |
|
|
 |
Advertisement
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
