Jordan’s Bobcats takeover approved 19/03/2010 |
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Michael Jordan has become the first former National Basketball Association player to majority-own an NBA team after the league’s board of governors voted unanimously to approve his takeover of the parent company of the Charlotte Bobcats.
Jordan’s purchase of Bobcats Sports & Entertainment (BSE) gives the former Chicago Bulls legend a controlling interest in the companies that operate the Bobcats and the franchise’s Time Warner Cable Arena home.
“Purchasing the Bobcats is the culmination of my post-playing career goal of becoming the majority owner of an NBA franchise,” Jordan said after the vote.
“I am especially pleased to have the opportunity to build a winning team in my home state of North Carolina. I plan to make this franchise an organisation that Charlotte can be proud of, and I am committed to doing all that I can to achieve this goal.”
Jordan has been a part-owner of the team since 2006 and has already been running basketball operations at the Bobcats.
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