Michael Jordan’s bid to take ownership of the Charlotte Bobcats was unanimously approved by the NBA’s board of governors, making MJ the first ex-NBA player to become the majority owner of a franchise.
He also becomes just the second African-American owner of an American pro sports franchise. Robert Johnson — the media mogul who founded the Bobcats and sold his interest to Jordan — was the first.
Running the team may present a stiffer challenge than Jordan ever faced on a basketball court. The Bobcats are on pace to post a $30 million loss this season, due to poor merchandise and ticket sales. On a positive note, the team is also on pace to reach the playoffs for the first time in franchise history. After last night’s 100-92 win over the Thunder, the Bobcats are 35-32 on the season, sixth in the Eastern Conference.
Jordan Takes Ownership of Bobcats originally appeared on About.com Basketball on Thursday, March 18th, 2010 at 09:29:23.
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