Michael Jordan Buys NBA Team

Charlotte basketball fans can only hope Michael Jordan is half as good at owning a team as he was playing for one. The sports icon reportedly struck a deal Friday to purchase the Charlotte Bobcats from owner Bob Johnson. Jordan has been affiliated with the team as an executive for the last several years, but turning the Bobcats around financially will be difficult—Johnson ran up $150 million in debt after paying $300 million for the team, which launched in 2004.