May 25, 2015
CHARLOTTE, N.C. (AP) - After losing tens of millions of dollars, the first black majority owner of a major professional sports team is exploring selling the Charlotte Bobcats.
Bob Johnson's decision could pave the way for minority investor Michael Jordan to take control of the team - if he's willing to meet Johnson's price.
The NBA confirmed Friday that Johnson is using a New York-based sports financial services firm to seek additional investors. Jordan said in February that he'd be interested in someday getting majority control of the team.
Johnson and Jordan did not immediately respond to requests for interviews on Friday through team spokesmen.
Copyright 2015 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.