After unsuccessful runs in the basketball operations department of the Washington Wizards and Charlotte Bobcats, Michael Jordan didn’t appear to be cut out for the life of an executive
The same commitment to winning that made him so successful off the court, seemed to be sorely lacking in the stadium suites.
So when MJ purchased the Charlotte Bobcats in March, and became the first former player with a majority stake in an NBA team, questions immediately arose as to whether he would make a good owner.
The financially unstable franchise needed a complete overhaul. In its first six years, the Bobcats had lost a reported $80-$100 million.
So far, Jordan has made it very clear he’s committed to his new role, the SportsBusiness Journal reports. Sure, he bought a pair of courtside seats, on David Stern’s recommendation, to increase visibility, but Jordan’s commitment goes beyond making appearances. His Airness also secured new corporate sponsors and negotiated a better TV deal for his team.
More importantly, he’s hired respected advisors to help him transform the economic liability into a viable enterprise.
“The biggest investment I have is this team,” Jordan said of the franchise he bought for $275 million in March. “I have to make it work and I feel like I have found my niche.
“I am comfortable in this city. I know my way around. And my commitment isn’t just my name.”
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