Board of Governors approves Michael Jordan’s bid for Charlotte Bobcats

The NBA’s Board of Governors on Wednesday unanimously approved Michael Jordan’s $275-million bid to buy the Charlotte Bobcats from Bob Johnson. Jordan will immediately take over after serving as a minority investor with the final say on basketball decisions since 2006.

“Purchasing the Bobcats is the culmination of my post-playing-career goal of becoming the majority owner of an NBA franchise,” Jordan said in a statement. “I am especially pleased to have the opportunity to build a winning team in my home state.”

The six-time NBA champion and five-time league MVP will be trying to turn around the fortunes of the 6-year-old Bobcats, who are on pace to lose about $30 million this season because of sluggish ticket and sponsorship sales.

Jordan, 47, who will assume about $150 million in debt in the deal, becomes the second African American majority owner of a major pro sports team. Johnson, who paid $300 million for the expansion franchise, was the first.

A spokeswoman for Johnson said he will be a minority investor in Jordan’s ownership group.

Granger out of hospital

Indiana Pacers forward Danny Granger was released from Methodist Hospital in Indianapolis after a CT scan on his head and neck found no problems. Granger took an inadvertent elbow to his upper right cheek in the final minute of Tuesday’s game against Charlotte. Granger sat out Wednesday’s game against Cleveland.

Blazers fire VP

The Portland Trail Blazers dismissed Tom Penn as vice president of basketball operations. The team said Penn was fired Tuesday for “philosophical differences.”