Jordan seeks majority ownership of Bobcats

In early 2010, Michael Jordan pursued majority ownership of the Charlotte Bobcats, a franchise he had previously been associated with as a player and executive. The Bobcats' then-owner, Robert Johnson, reached an agreement with Jordan and his investment group, MJ Basketball Holdings, to transfer ownership of the team, contingent upon approval from the NBA. Following the agreement, the NBA Board of Governors convened and unanimously approved the sale, marking a historic milestone in the league's history. Jordan's acquisition of the Bobcats not only made him the first former player to hold majority ownership of an NBA team but also established him as the league's only African-American majority owner, a significant achievement in a sport where ownership has traditionally been dominated by white individuals. This transition in ownership was seen as a pivotal moment for representation within the NBA, highlighting the potential for former players to take on leadership roles beyond their playing careers and influencing the future of the league.