Michael Jordan to Buy NBA's Charlotte Bobcats

By Caitlin Millat
|  Saturday, Feb 27, 2010  |  Updated 12:30 AM PDT
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Michael Jordan is getting back to basketball.

The king of the courts has inked a deal to buy controlling interest of the Charlotte Bobcats, the financially strapped team from his home state of North Carolina.

Jordan has been part owner of the team since 2006 and has since run its basketball operations.

The ex-Chicago Bulls superstar and University of North Carolina alumnus will be the second black majority owner of a major professional sports team.

He was one of several bidders for the team -- former Houston Rockets executive George Postolos also put in a bid for the team.

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