Michael Jordan to Become Part Owner of the Charlotte Bobcats
Robert L. Johnson, founder of BET and majority owner of the NBA’s Charlotte Bobcats, will enter into a venture with Michael Jordan to invest in business opportunities in media, entertainment and financial services.
As part of Jordan’s investment in Johnson’s existing portfolio, Jordan will become the largest individual owner of the Bobcats after Johnson. Jordan will become the Managing Member of Basketball Operations for the Bobcats ownership group.
“I’m thrilled to have my friend, Michael Jordan, join me in my business and sports pursuits,” said Robert L. Johnson, Chairman and CEO of The RLJ Companies and the Charlotte Bobcats. “I not only respect Michael for his basketball knowledge and expertise, but also for his business skills, particularly in branding and marketing. Michael will provide invaluable management input to a Bobcats team that is poised to deliver results for the 2006-2007 season and beyond.”
“Our joint venture will allow Michael to invest in private equity, hedge funds, financial services, real estate, film production, and other business interests that my holding company, The RLJ Companies, is pursuing,” continued Johnson.
“I’m excited to join Bob, and invest alongside one of the most astute businessmen I know,” said Michael 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.”
oh yea, i'll pay more attention to the bobcats next season

