SBD / Issue 128 / Jordan Officially Named Bobcats Owner

SBD/Issue 128/Franchises

It's Official: Michael Jordan Formally Named New Bobcats Owner

Published March 17, 2010

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By John Lombardo, Staff Writer, SportsBusiness Journal

Michael Jordan officially owns the Bobcats after the NBA BOG unanimously approved the acquisition. "We are pleased that Michael Jordan's purchase of majority ownership of the Bobcats was approved by the NBA's Board of Governors and closed in such a smooth and expeditious fashion," NBA Commissioner David Stern said in a statement released this morning. "We look forward to the continued growth of the Bobcats, on and off the court, under his leadership." The NBA put the purchase price between $275-290M.

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