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[h1]Michael Jordan reaches deal to buy Bobcats[/h1]
By MIKE CRANSTON, AP Sports Writer 10 hours, 19 minutes ago
CHARLOTTE, N.C. (AP)—He has been called the NBA’s greatest player and one ofthe country’s top pitchmen.
Now Michael Jordan is ready for a new title: NBA owner.
With minutes to go until his exclusive negotiating window was to expire,Jordan struck a deal late Friday night to buy controlling interest of theCharlotte Bobcats, putting the six-time NBA champion in charge of themoney-losing team in his home state.
Owner Bob Johnson announced in a statement that he’s agreed to sell theBobcats to Jordan, who been a part-owner of since 2006. Jordan has been runningthe team’s basketball operations.
The purchase price and details of Jordan’s ownership group—called MJBasketball Holdings LLC—weren’t immediately available. A spokeswoman forJohnson and a spokesman for Jordan said neither man was available for commentearly Saturday.
The league’s owners must still approve the purchase.
Jordan was in competition with former Houston Rockets executive GeorgePostolos, who also had an ownership group together to buy the team. But Postolossaid Jordan had the exclusive right to buy the club until just before midnightFriday night.
Jordan hit another last-second shot—reaching a deal minutes before thedeadline.
“I remain committed to becoming an NBA owner, and I’m glad that Michaelwill continue to bring his talent to the sport and the league,
By MIKE CRANSTON, AP Sports Writer 10 hours, 19 minutes ago
CHARLOTTE, N.C. (AP)—He has been called the NBA’s greatest player and one ofthe country’s top pitchmen.
Now Michael Jordan is ready for a new title: NBA owner.
With minutes to go until his exclusive negotiating window was to expire,Jordan struck a deal late Friday night to buy controlling interest of theCharlotte Bobcats, putting the six-time NBA champion in charge of themoney-losing team in his home state.
Owner Bob Johnson announced in a statement that he’s agreed to sell theBobcats to Jordan, who been a part-owner of since 2006. Jordan has been runningthe team’s basketball operations.
The purchase price and details of Jordan’s ownership group—called MJBasketball Holdings LLC—weren’t immediately available. A spokeswoman forJohnson and a spokesman for Jordan said neither man was available for commentearly Saturday.
The league’s owners must still approve the purchase.
Jordan was in competition with former Houston Rockets executive GeorgePostolos, who also had an ownership group together to buy the team. But Postolossaid Jordan had the exclusive right to buy the club until just before midnightFriday night.
Jordan hit another last-second shot—reaching a deal minutes before thedeadline.
“I remain committed to becoming an NBA owner, and I’m glad that Michaelwill continue to bring his talent to the sport and the league,
