Michael Jordan Beats The Buzzer To Buy The Charlotte Bobcats

Hopefully, when the deal has been concluded Jordan will give the Bobcats what they really need ... his visibility and full support. Everyone associated with the Bobcats has to be disappointed in what he has brought to the the team in his years as the part-owner.

Now Michael Jordan is ready for a new title: NBA owner.

With minutes to go until his exclusive negotiating window was to expire, Jordan struck a deal late Friday night 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 he's agreed to sell the Bobcats to Jordan, who has been a part-owner of the team 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 was available for comment early Saturday.

The league's owners must approve the purchase.

Jordan was in competition with former Houston Rockets executive George Postolos, who also had an ownership group together to buy the team. But Postolos said Jordan had the exclusive right to buy the club until just before midnight Friday night.

Jordan hit another last-second shot -- reaching a deal minutes before the deadline.

via sports.espn.go.com

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