Jordan paid $275M for the 6-year-old franchise and hopes to lead the team in a new direction. “I plan to make this franchise an organization that Charlotte can be proud of, and I am committed to doing all that I can to achieve this goal,” Jordan replied when asked about his plans for the team.
Before the deal was brokered, Jordan was a minority owner of the team, but had the final say in basketball decisions.
Though they have never made the playoffs, the Bobcats currently hold the 6th spot in the Eastern Conference (34-32) and look as if they will make their first post-season appearance in franchise history.
Jordan is the first ex-player to become majority owner of a NBA team and the second African-American owner in major pro sports history. He bought the franchise from Bob Johnson, a man who was the first black major pro sports owner.
The team has struggled a bit with ticket sales since, but with Jordan’s star power and a brilliant marketing strategy ticket sales will soon be the least of the Bobcats’ problems.
The official press conference will take place on Thursday, no word on whether Jordan will run day-to-day basketball operations or hire someone to perform those duties.
Michael Jordan’s bid to buy Bobcats approved (AP via FOX Sports)
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