Basketball Hall of Famer Michael Jordan hopes to become just the second black majority owner of an NBA franchise with the pending purchase of the Charlotte Bobcats. According to several reports, Jordan is interested in buying the Bobcats from BET founder Robert Johnson.
Johnson purchased the NBA franchise in 2003 for $300 million and became the first black American to own an NBA franchise. However, the Bobcats have never made the playoffs and are currently valued at $284 million by Forbes magazine. Johnson wants to cut his losses by selling the team to Jordan. During NBA All-Star weekend, commissioner David Stern said that he would like for the deal to be completed in the next 60 days.
Jordan currently serves as the head of basketball operations for the Bobcats and also served in the front office for the Washington Wizards until he was fired by the late Abe Pollin.
After making several questionable decisions during his years with the Washington Wizards, is it possible for Jordan to be a successful owner of an NBA franchise? –amir shaw