The NBA approves Jordan’s bid of $275 million to buy the Bobcats from majority owner Johnson. Jordan will assume about $150 million in debt in the deal. He becomes the second black majority owner of a major pro sports team.
Purchasing the Bobcats is the culmination of my post-playing career goal of becoming a majority owner of an NBA franchise. I am especially pleased to have the opportunity to build a winning team in my home state of North Carolina..I am especially pleased to have the opportunity to build a winning team in my home state of North Carolina…I plan to make this franchise an organization that Charlotte can be proud of, and I am committed to doing all that I can to achieve this goal.
The best decision I made since acquiring the Bobcats was to convince my friend Michael to become an investor in the Bobcats and to appoint him as managing member of basketball operations. As the new majority owner of the Bobcats, his dedication will be stronger now more than ever.
For the first time, Jordan makes it onto Forbes’s list of the world’s billionaires. His net worth is estimated to be around $1 billion. It is assumed that Jordan makes more than $100 million a year off royalties from his Nike Air Jordan line, though those numbers have never been confirmed. Jordan’s stake in the Charlotte Hornets is currently at 90 percent. Forbes estimates the team is worth more than $700 million.
Jordan talks seventh ring and competing against LeBron James in an interview with ESPN.
I’m always dreaming about that seventh ring. Always. The six that I actually won, I impacted from a whole different angle. Now I’m impacting from a totally different perspective and it’s not as much fun, but it’s a lot harder.We need someone that can compete against LeBron, simple as that. I don’t know if the antics were one of those things, but the thing was ‘I love the way you competed against LeBron’ and to me that’s a plus. …if you only get out of the East, you want to get past Cleveland — at the time it was miami — you’ve got to beat LeBron, so we’re willing to take a gamble with you if you’re willing to take a gamble with us.
The couple wed in front of 300 guests during a star studded ceremony at the Bethesda-by-the-Sea church in Palm Beach, Fla. The reception is held in a tent at the Bears Club . The 40,000 square foot tent is decorated with white roses, peonies and tulips, and guests munched on white rum wedding cake that is decorated with crystal brooches.