NEW YORK – The NBA Board of Governors has unanimously approved the acquisition by Michael Jordan of a controlling interest in the Charlotte Bobcats.

“We are pleased that Michael Jordan’s purchase of majority ownership of the Bobcats was approved by the NBA’s Board of Governors and closed in such a smooth and expeditious fashion,” said NBA Commissioner David Stern. “We look forward to the continued growth of the Bobcats, on and off the court, under his leadership.”