Skip to main content

Michael Jordan To Become Owner Of Charlotte Bobcats

  • Author:
  • Updated:

After some last minute scrambling yesterday evening, NBA's all-time great player, Michael Jordan (seen here with Dwyane Wade & Carmelo Anthony during All-Star Weekend), will take on a challenge as the owner of Charlotte Bobcats. Jordan, who already held minority ownership of the team will take over from its current owner, Black Entertainment Television (BET) Network's founder Robert Johnson. Basketball heritage runs deep in the Tar Heel State, with 5-time NCAA Basketball Champion University of North Carolina (UNC) serving as the backdrop. However, all is not so fortunate with the Charlotte Bobcats. Since becoming NBA's newest expansion team in 2004, Johnson had accrued roughly $150 million in debt from lost revenue. It is the hope of Johnson, Jordan, and all those who are involved that Jordan's ownership will revitalized the franchise.