Michael Jordan approved as Bobcats Majority Owner

The National Basketball Association's (NBA) Board of Governors has voted unanimously to approve the purchase by Michael Jordan of a majority interest in Bobcats Sports & Entertainment (BSE). The investment gives Jordan a controlling interest in the companies that operate the NBA's Charlotte Bobcats and Time Warner Cable Arena, located in uptown Charlotte. After a Hall of Fame career, Jordan is the first former player to become the majority owner of an NBA team.

"Purchasing the Bobcats is the culmination of my post-playing career goal of becoming the majority owner of an NBA franchise. I am especially pleased to have the opportunity to build a winning team in my home state of North Carolina," said Jordan. "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."

thanks to: www.nba.com