Michael Jordan is back in the NBA, resuming his basketball career in the state where it started.
Jordan became part-owner of the
Charlotte Bobcats on Thursday in a deal that gives him a stake in most of majority partner Robert Johnson's ventures.
Jordan's investment makes him second only to Johnson as the largest individual owner of the Bobcats.
Johnson, who spent $300 million on the expansion Bobcats in 2002, said Jordan will be the managing member of basketball operations.
"Ever since I acquired the Bobcats franchise, one of my goals has been to get Michael Jordan to become my partner in operating the team," Johnson said. "I don't think I have to make the case for Michael's basketball expertise, his knowledge or his competitiveness as a player.
"I am very excited to have a native North Carolinian be a part of the Bobcats and excited to have a friend of mine -- who I have absolute confidence in --
oversee our basketball personnel decision making process."