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Jordan strikes deal to buy controlling interest of Bobcats

CHARLOTTE, N.C. - Michael Jordan has struck a deal to buy controlling interest of the Charlotte Bobcats, taking charge of the money-losing team in his home state.

Traci Blunt, a spokeswoman for owner Bob Johnson, told The Associated Press that Jordan was able to put together an ownership group late Friday to buy the team he has been a part-owner of since 2006. Jordan has been running the team's basketball operations.

The purchase price was not immediately available.

Former Houston Rockets executive George Postolos also bid on the Bobcats. The NBA's owners still must approve the purchase.

The deal will end Johnson's largely unsuccessful stint as the first black majority owner of a major professional sports team.

New York Sports