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To: techguerrilla who wrote (52447)	6/15/2006 7:32:20 PM
From: stockman_scott	Respond to of 104191

Jordan takes ownership stake in Charlotte Bobcats _____________________________________________________________ By Lorene Yue June 15, 2006 (Crain’s) — Michael Jordan is back in the NBA. The legendary player who helped the Chicago Bulls will six NBA championship titles will become the second-largest individual owner of the Charlotte Bobcats through a business deal announced Thursday with the team’s lead investor, Robert L. Johnson. Mr. Jordan will also become the managing member of basketball operations for the Bobcats ownership group. He held a similar role with the Washington Wizards in 2000 and 2001, but stepped down when he resumed his playing career. He played two seasons with the Wizards before retiring again. Mr. Jordan then returned to management but was fired as president of the Wizards’ basketball operations in 2003. The business venture with Mr. Johnson, founder of Black Entertainment Television and chairman and chief executive officer of RLJ Companies gives Mr. Jordan investment access to various media, entertainment and financial services opportunities. RLJ Cos. of Bethesda, Md. has a number of business holdings including a portfolio of 29 hotels, a hedge fund, a commercial bank and a private-equity fund. “I’m excited to join Bob, and invest alongside one of the most astute businessmen I know,” Michael Jordan said in a statement. “I am also looking forward to providing my advice, where needed, to Bobcats’ management in order to put the best possible team on the court.” Founded in 2004, the Bobcats replaced the Charlotte Hornets as the home team for Mr. Jordan’s home state of North Carolina. Mr. Johnson owns the largest stake among a team of investors who bought the Bobcats. “I’m thrilled to have my friend, Michael Jordan, join me in my business and sports pursuits,” Robert L. Johnson said in a statement. “I not only respect Michael for his basketball knowledge and expertise, but also for his business skills, particularly in branding and marketing. Michael will provide invaluable management input to a Bobcats team that is poised to deliver results for the 2006-2007 season and beyond.”