Michael Jordan’s bid to purchase the Charlotte Hornets has been approved by the NBA Board of Governors, according to an Associated Press source. The deal, which was first reported in February, will make Jordan the majority owner of the team.
Jordan, a six-time NBA champion and Hall of Fame player, has been a part-owner of the Hornets since 2006. He will now become the first former player to own a majority stake in an NBA team.
The purchase of the Hornets is a significant move for Jordan, who is widely regarded as one of the greatest basketball players of all time. He has been a part-owner of the team for nearly a decade and has been involved in various aspects of the organization, from marketing to player personnel decisions.
The approval of Jordan’s bid comes after months of negotiations between him and the NBA. The league had to approve the sale in order for it to go through. The deal is expected to be finalized in the coming weeks.
Jordan’s purchase of the Hornets is seen as a positive move for the franchise, which has struggled in recent years. The team has not made the playoffs since 2010 and has had difficulty attracting fans to its home games.
Jordan’s presence as majority owner is expected to help the team both on and off the court. His star power and business acumen should help boost ticket sales and attract more sponsorships. On the court, Jordan is expected to be more involved in player personnel decisions, which could help the team improve its performance.
The NBA Board of Governors’ approval of Jordan’s bid is a major milestone for the former player and his business interests. It marks a new chapter for the Charlotte Hornets, and one that could bring great success to the franchise.
