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Jordan That Much Closer to Owning Bobcats

Nolan Thomas Written by Nolan Thomas, Friday March 12 2010
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Michael Jordan's bid to buy the Charlotte Bobcats has been signed off by the NBA.

NBA Commissioner David Stern expects the league's board of governors to approve Jordan’s purchase of the Charlotte Bobcats by the end of next week.

 

Stern said on Friday that he expects the vote to pass "very easily."  Jordan will become the first ex-player in the history of the NBA to own a team and he will be the second African-American majority owner.

 

Ironically, he will be replacing the first African-American owner in the NBA, Bob Johnson, who has lost tens of millions of dollars as the owner of the Bobcats.

 

Stern said that Jordan is the sole investor in the ownership group, but he expects Jordan to also look for some local partners as well. Jordan has been a part-owner of the team and has had the final word on all basketball decisions for the last four years.

 

Jordon is an icon in North Carolina, and shortly will be the majority owner of a team in a state where he is cherished and stands on a pedestal higher then anyone in the history of the state. He grew up in Wilmington, N.C., and his last-second shot to give the University of North Carolina the 1982 national championship is still on the minds of every college basketball fan throughout the state.



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