The 6-time NBA Champion and 14-time NBA All-Star, Michael Jordon who has been part owner of the Charlotte Bobcats since 2006 and controlling team operations, has purchased control of the Bobcats late Friday.

The team has struggled to find sponsors and bring in fans, and has lost millions of dollars each year since becoming an expansion franchise in the 2004-05 season.

The Bobcats have never had a winning season going 18-64 in the 2004-05 season, 26-56 in the 2005-06 season, 33-49 in the 2006-07 season, 32-50 in 2007-08, and 35-47 in the 2008-09 season.

After seven trades involving over 20 players including the signing of Stephen Jackson since the start of the 2008-09 season, the Bobcats are now close to a playoff caliber team; with a record of 28-29.

Jordan will now be in charge of all personnel moves for the team, pending approval by league owners.