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Michael Jordan Buys Charlotte Bobcats

Anklesnap February 27, 2010 Dr. Anklesnap 11 Comments

February 27, 2010 – Dr. Anklesnap

We told you in early February that Michael Jordan had less than a month to make an offer to buy controlling interests in the Charlotte Bobcats or he may find himself out of a job. It was quite likely that any other new owner would want to put his own stamp on the team and may not look fondly on Michael continuing to fully run the Basketball Operations.

We truly believe that its good for the league to have the greatest player of all-time and certainly the most recognizable name in all of basketball to continue to be affiliated with the league. That’s why we are really excited to hear that as recently as last night, Michael Jordan and his ownership group have come to terms on an agreement to buy the Charlotte Bobcats.

ESPN had this on the deal today:

Jordan has struck a deal to buy controlling interest of the Charlotte Bobcats, putting the six-time NBA champion in charge of the money-losing team in his home state.

Owner Bob Johnson announced in a statement that Jordan was able to put together an ownership group late Friday to buy the team he has been a part-owner of since 2006. Jordan has been running the team’s basketball operations.

The purchase price and details of Jordan’s ownership group — called MJ Basketball Holdings LLC — weren’t immediately available. A spokeswoman for Johnson and a spokesman for Jordan said neither man was available for comment early Saturday.

The league’s owners must still approve the purchase.

So the final hurdle will be to get the approval of the league and its owners on the deal. That shouldn’t be a problem as Jordan has strong relationships with many of the owners in the league. Not only that but the other owners surely recognize the financial impact Jordan’s presence can have on the league. He continues to be a polarizing figure in sports and draws the attention of media, sponsors, and the world. This is good for the league as a whole and good for the economics of the sport.

MJ has taken a lot of heat for his executive decisions while in Washington, but he has certainly begun to redeem himself in Charlotte since taking over basketball operations. Key player moves and bringing in Larry Brown as Head Coach last summer has the Bobcats this season on the verge of possibly making the playoffs for the first time. At a record of 28-29, the Bobcats currently sit just a half a game out of the last playoff spot, behind Dwyane Wade and the Miami Heat.

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  • srikar

    that was a slick move by jordan

  • http://kneejerknba.blogspot.com/ KneeJerkNBA

    Great. Prepare for some terrible draft day decisions. Somewhere out there, the next Kwame Brown is waiting…

  • John Matthews

    Wow, must be nice having trruck loads of cash laying around!

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  • Mikel Neal

    I personally think MJ is too competitive to just walk away from anything. It seems to me that he is the one that really made the NBA a household name. This will deffinately help the popularity at least a little bit. If it were up to me, the NBA would shorten the season. This seems to be the reason the NFL is doing so well. If you are an NBA fan you have to try and keep up with 82 GAMES A SEASON. With the NFL, fans get an entire week to fully take in the game that happened on Sunday. Also an entire week to get psyched up for the coming game. This makes a lot of time in between games for retailers to sell merchandise as well. I remember when I was younger and liked basketball very much. Pretty much a prerequisite for growing up in Indiana. The only problem with that is I never spent time in front of a television to watch any games unless it was the playoffs. This tells me that ratings or viewership has been a problem for this league for a long time. Hopefully the NBA wises up and realizes that quality is much more important in a season than quantity.

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  • Michael

    Great post, thank.

  • http://vzwpix.mobi vzwpix.com

    About damn time. I hope he manages the team better than what he did with Wizards.

  • buy xrumer blast

    Today Jordan has come to terms on an agreement to buy his home town Charlotte Bobcats. He grew up in Wilmington, NC, not Charlotte.

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