18 Mar 2010

Michael Jordan approved as an NBA owner

8:26 am on 18 March 2010

The American basketball legend Michael Jordan has become the first former player to become the principal owner of an NBA basketball team.

Jordan has been unanimously approved as controlling owner of the Charlotte Bobcats, having already been an investor and head of operations for the team. His stake in the team is an estimated minimum 52-million dollars.

Known as "Air Jordan" in his playing days, he led the Chicago Bulls to six NBA championships and was five-times named the league's Most Valuable Player.