Jordan Buys Bobcats

By Marcus Gilmer in News on Feb 27, 2010 5:15PM

Bulls legend Michael Jordan is now embarking on the next stage of his career: team owner. Yesterday, Jordan, previously a minority investor in the Charlotte Bobcats, bought the franchise from current owner Bob Johnson, also the founder of the BET television network. Jordan was also involved in the team's basketball decisions, both the good (bringing in Larry Brown to coach) and the bad (drafting Adam Morrison in 2006). Details of the deal, including the price, haven't been announced; the group that Jordan heads that purchased the team is called MJ Basketball Holdings LLC. Jordan also had an underwhelming stint as an executive with the Washington Wizards in the early part of the 00's.