Stern expects Jordan to be approved as owner
NBA commissioner David Stern expects Michael Jordan to be approved as majority owner of the Charlotte Bobcats by the end of next month.
Stern released a statement Saturday saying he was "pleased'' the former NBA superstar had reached a deal to buy the money-losing team from Bob Johnson. Stern anticipates an expedited approval process by the league's owners.
Jordan has declined to comment after striking a deal late Friday. Jordan has been a part-owner of the Bobcats with the final say on basketball decisions.
One member of Johnson's ownership group, NASCAR team owner Felix Sabates, says he won't be a part of Jordan's group. But Sabates believes Jordan can turn the franchise around as long as he's "not an absentee owner.''