Michael Jordan reaches deal to buy Bobcats

There were rumours of it before the All-Star break, but seems it's now official.

With minutes to go until his exclusive negotiating window was to expire, Jordan struck a deal late Friday night to buy controlling interest of the Charlotte Bobcats, putting the six-time NBA champion in charge of the money-losing team in his home state.

Owner Bob Johnson announced in a statement that he’s agreed to sell the Bobcats to Jordan, who been a part-owner of since 2006. Jordan has been running the team’s basketball operations.

I suppose the prediction is going to be doom and gloom, though the franchise is already losing money while not doing too badly this year with Jordan already installed as the head of basketball operations so he's not exactly taking control of a well-run and profitable franchise and ruining it from a financial standpoint (certainly no more than Bob Johnson was already doing). Presumably, it'll be more of the same as far as what happens on the court and the roster moves that are made.

To be fair to Johnson, he didn't start with a well-run and profitable franchise in the first place.

'Controlling interest' only means majority shareholding, not total buyout doesn't it. So what percentage does he own now?

I wonder if he'll be more 'hands on' now that he's the boss.

Correct, he doesn't own the team outright so far as they're reporting.

Jordan attends Bobcats' shootaround, plays H-O-R-S-E

One of Michael Jordan's first acts since reaching a deal to buy the Charlotte Bobcats: losing two games of H-O-R-S-E to guard Gerald Henderson.

Duke > UNC

had to be said

Jordan > Anyone from any college ever.

Had to be said.

jordan a few years ago of course

Let the rumours of another comeback begin!

(Surely not)