Jordan Shoes - Celtics fall into old habits, drop contest to Cavs

Michael Jordan, who is the author of Jordan Shoes, has struck a deal to buy controlling interest of the Charlotte Bobcats, putting the former NBA superstar in charge of the money-losing team in his home state. Traci Blunt, a spokeswoman for owner Bob Johnson, told The Associated Press that Jordan was able to put together an ownership group late Friday to buy the team he has been a part-owner of since 2006. Jordan has been running the team-s basketball operations.

The purchase price and details of Jordan Shoes ownership group -- called MJ Basketball Holdings LLC -- were not  immediately available. Blunt said Johnson would have no further comment. Former Houston Rockets executive George Postolos also bid on the Bobcats and didn't immediately return a message seeking comment. NBA commissioner David Stern announced at All-Star weekend that a deal was imminent, but the league-s owners must still approve the purchase forJordan Shoes.