Chair Jordan: Bulls Great Buys Bobcats

Jordan struck a deal to assume ownership of his home state's hoops franchise.

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Michael Jordan can add "owner" to his list of NBA accomplishments. Last night, he agreed to terms to take a controlling-interest in the Charlotte Bobcats

With minutes to go until his exclusive negotiating window was to expire, Jordan struck a deal late Friday night to buy controlling interest of the Charlotte Bobcats, putting the six-time NBA champion in charge of the money-losing team in his home state.

Owner Bob Johnson announced in a statement that he's agreed to sell the Bobcats to Jordan, who has been a part-owner of the team since 2006. Jordan has been running the team's basketball operations.

The purchase price and details of Jordan's ownership group -- called MJ Basketball Holdings LLC -- weren't immediately available. A spokeswoman for Johnson and a spokesman for Jordan said neither was available for comment early Saturday.

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