Michael Jordan Ready to Take on A Different Role
Five-time MVP winner Michael Jordan is ready to add on another title to his already burgeoning resume – that is to become an NBA owner. Late last week he was reportedly negotiating with Charlotte Bobcats owner Bob Johnson to buy controlling shares of his home state’s team. It is not a secret that the Charlotte Bobcats has been losing money for some time now.
In a statement released to the press, Bob Johnson disclosed that he’s consented to the sale of his team to Jordan. Since 2006, the NBA superstar has been minority owner of this team and in-charge of its basketball operations. The details of the sale are still unknown to the public as representatives from both sides were unavailable to give information. Also, the owners of the league still have to approve the purchase.
Houston Rockets executive George Postolos was said to have set his sights on buying Charlotte Bobcats as well. However, Jordan’s ownership group called MJ Basketball Holdings LLC had the exclusive rights to purchase the club until before midnight of Friday. Jordan bagged the deal just a few moments before the deadline. Obviously, Jordan has shown us again his signature “last-second shot”. Although, this time it’s not in the hardcourt.
Michael Jordan has been making millions through product endorsements. Now, he’s ready to venture into an entirely different world. His first project would definitely be to work on turning Bobcats into a winner, and to alleviate the franchise’s ailing financial condition. After making a $300-million investment in 2004, Johnson was said to have accumulated a huge debt amounting to about $150 million. This season, the team is expected to lose more money as they’re struggling to find sponsorships and draw crowds.
Ever since Jordan became in-charge of the franchise’s basketball operations, he has tried to incorporate some changes to bring up the team’s overall standing. Although, he has made some “bad calls” like the drafting of Adam Morrison. Also, he has been accused of rarely being present during practices and games. Now that Jordan’s the owner, let’s see how Bobcats will do this time.
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