Bobcats majority owner Bob Johnson has given up control of the team to NBA Superstar Michael Jordan. The Hall of Fame player has been part owner of the team and overseees the Bobcats’ basketball operation for past few years.
Jordan has beaten former Houston Rockets president George Postolos in the negotiating table. It is not clear however on who will be in Jordan’s managing group. Jordan had a previous deal with Johnson to be an equity partner and oversee the basketball operation. The agreement also includes a right of first refusal to buy control if Johnson chose to sell.
Jordan’s is responsible for hiring coach Larry Brown and acquiring Tyrus Thomas and Boris Diaw in a trade. The Bobcats had been in contention for what would be the franchise’s first playoff spot since Jordan’s moves.