MJ becomes part owner of Bobcats
Charlotte, NC (Sports Network) – NBA legend and record book rewriter Michael
Jordan became a part-owner of the Charlotte Bobcats on Thursday.
The venture with Robert Johnson, majority owner of the club, makes Jordan the second largest individual owner of the club behind only Johnson. Jordan was named managing member of basketball operations.
"I’m thrilled to have my friend, Michael Jordan, join me in my business and sports pursuits," said Johnson. "I not only respect Michael for his basketball knowledge and expertise, but also for his business skills, particularly in branding and marketing."
While enjoying as much success on the hardwood as any other player in the history of the NBA, Jordan has been almost as successful off the court. He has been featured in numerous high-profile endorsement deals and his Jordan Brand — a division of NIKE — has become a fixture in the athletic shoes and apparel market.
"I’m excited to join Bob, and invest alongside one of the most astute businessmen I know," said Jordan. "I am also looking forward to providing my advice, where needed, to Bobcats’ management in order to put the best possible team on the court."
Jordan knows a little something about winning on the court as he is a six-time NBA Champion — all with the Chicago Bulls — and five-time regular season MVP. He lead the league in scoring a record 10 times and ranks third on the all-time NBA list with 32,292 points.
Air Jordan, though, had little success in his first venture into the front office with the Washington Wizards.
Jordan was the team’s President of Basketball Operations from January 2000 until September 2001, when he came out of retirement for the second time to return to play basketball. In the 3 1/2 years that Jordan was in the front office, a position he kept while he was playing, Washington managed just a 110-179 record, which was a contributing factor to Pollin’s decision not to re-sign Jordan.
The 40-year-old Jordan guided the Wizards to back-to-back 37-45 seasons while he was on the court, but the team failed to reach the post-season in either season.