Jordan's $275-million offer for the franchise is unanimously approved.
The NBA's Board of Governors on Wednesday unanimously approved Michael Jordan's $275-million bid to buy the Charlotte Bobcats from Bob Johnson. Jordan will immediately take over after serving as a minority investor with the final say on basketball decisions since 2006.
"Purchasing the Bobcats is the culmination of my post-playing-career goal of becoming the majority owner of an NBA franchise," Jordan said in a statement. "I am especially pleased to have the opportunity to build a winning team in my home state."
The six-time NBA champion and five-time league MVP will be trying to turn around the fortunes of the 6-year-old Bobcats, who are on pace to lose about $30 million this season because of sluggish ticket and sponsorship sales.
Jordan, 47, who will assume about $150 million in debt in the deal, becomes the second African American majority owner of a major pro sports team. Johnson, who paid $300 million for the expansion franchise, was the first.
A spokeswoman for Johnson said he will be a minority investor in Jordan's ownership group.
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Showing posts with label michael jordan. Show all posts
Showing posts with label michael jordan. Show all posts
Wednesday, March 17, 2010
Tuesday, March 2, 2010
James files papers to switch from No. 23 to No. 6
by (AP)
INDEPENDENCE, Ohio — The number on LeBron James' back will be different next season. The Cleveland Cavaliers can only hope the logo on the front of his jersey remains the same.
James has filed paperwork with the NBA to change his uniform number next season to No. 6 from No. 23, the league confirmed Tuesday. James said earlier this season he would be willing to give up No. 23 in an effort to have the NBA retire it in honor of Michael Jordan.
Paperwork had to be filed this week to request a number change for next season.
"All it does is back up LeBron's beliefs," Cavs coach Mike Brown said. "He's a loyalty guy. When he believes in something, he sticks to his guns and he believes wholeheartedly in what he's doing."
James can become a free agent this summer. He would only need the league's approval to change numbers if he remains in Cleveland. Should he sign with another team, James would be allowed to choose any available number without needing approval.
He dismissed a question about his future shortly after the Cavaliers beat the Knicks 124-93 Monday night.
"I stopped answering free agent questions a long time ago," he said.
James, who declined interview requests on Tuesday, is going from one famous number to another. Julius Erving and Bill Russell both wore No. 6.
"The first thing I think of is Dr. J," Brown said.
James wore No. 6 with the U.S. Olympic team and wears it every day in practice. He isn't the first superstar to change numbers mid-career. Among others, Jordan briefly wore No. 45 after coming out of retirement with the Bulls, and Kobe Bryant more recently switched from No. 8 to No. 24.
"We remember the 8 on Kobe, but we also know the 24," Cavaliers point guard Mo Williams said. "After a year or two, people will look past the old number and let it rest with Jordan."
source: google.com/hostednews
INDEPENDENCE, Ohio — The number on LeBron James' back will be different next season. The Cleveland Cavaliers can only hope the logo on the front of his jersey remains the same.
James has filed paperwork with the NBA to change his uniform number next season to No. 6 from No. 23, the league confirmed Tuesday. James said earlier this season he would be willing to give up No. 23 in an effort to have the NBA retire it in honor of Michael Jordan.
Paperwork had to be filed this week to request a number change for next season.
"All it does is back up LeBron's beliefs," Cavs coach Mike Brown said. "He's a loyalty guy. When he believes in something, he sticks to his guns and he believes wholeheartedly in what he's doing."
James can become a free agent this summer. He would only need the league's approval to change numbers if he remains in Cleveland. Should he sign with another team, James would be allowed to choose any available number without needing approval.
He dismissed a question about his future shortly after the Cavaliers beat the Knicks 124-93 Monday night.
"I stopped answering free agent questions a long time ago," he said.
James, who declined interview requests on Tuesday, is going from one famous number to another. Julius Erving and Bill Russell both wore No. 6.
"The first thing I think of is Dr. J," Brown said.
James wore No. 6 with the U.S. Olympic team and wears it every day in practice. He isn't the first superstar to change numbers mid-career. Among others, Jordan briefly wore No. 45 after coming out of retirement with the Bulls, and Kobe Bryant more recently switched from No. 8 to No. 24.
"We remember the 8 on Kobe, but we also know the 24," Cavaliers point guard Mo Williams said. "After a year or two, people will look past the old number and let it rest with Jordan."
source: google.com/hostednews
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