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Jordan to have majority ownership of Bobcats

Basketball Betting Lines

02/27/2010 - Charlotte, NC (Sportsbook Betting Lines) - Charlotte Bobcats owner Bob Johnson reportedly announced in the early hours Saturday morning that he has reached a definitive agreement to sell a majority interest of the club to Michael Jordan and MJ Basketball Holdings, LLC.

The deal, as per the Charlotte Observer, is still subject to NBA approval.

Johnson, the founder of Black Entertainment Television, became the first black American to be the principal owner of a North American major-league sports franchise when Charlotte began play in 2004.

Jordan joined the Bobcats ownership group in June 2006 and served as the team's managing member of basketball operations, the same position he held with the Washington Wizards earlier in the decade.

As a five-time league MVP, six-time champion and two-time gold medal winner, Jordan has few rivals in regards to his game on the court.

The North Carolina native's stints in the front office, however, have come under some scrutiny.

First was the tumultuous 2003 split with the Wizards after 3 1/2 unsuccessful years with the organization as president of basketball operations, a position he held while he was finishing up his playing days.

Now in Charlotte, Jordan has rarely been seen at team practices or games despite calling the shots on all personnel transactions.

His most notable move thus far was luring fellow Hall-of-Famer Larry Brown to coach the team at the start of the 2008-09 season.

The Bobcats have never made the playoffs, though they sit a half-game behind the Miami Heat for the eighth and final spot in the Eastern Conference race with a 28-29 record this season.

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