Michael Jordan makes deal to buy Bobcats
Michael Jordan has struck a deal to buy controlling interest of the Charlotte Bobcats, taking charge of the money-losing team in his home state.
Traci Blunt, a spokeswoman for owner Bob Johnson, told the Associated Press that Jordan was able to put together an ownership group late Friday to buy the team he has been a part-owner of since 2006. Jordan has been running the team’s basketball operations.
The purchase price was not immediately available.
Former Houston Rockets executive George Postolos also bid on the Bobcats. The NBA’s owners still must approve the purchase.
The deal will end Johnson’s largely unsuccessful stint as the first black majority owner of a major professional sports team.
-- associated press
More to Read
Get our high school sports newsletter
Prep Rally is devoted to the SoCal high school sports experience, bringing you scores, stories and a behind-the-scenes look at what makes prep sports so popular.
You may occasionally receive promotional content from the Los Angeles Times.