Michael Jordan redefined basketball as a player, and now he’ll get his chance as an owner. Jordan has bought the controlling interest of the Charlotte Bobcats from current owner Bob Johnson. It’s not a huge surprise: Jordan has been part-owner since 2006 and has been running the franchise’s basketball operations.

No word on the cost, but the Charlotte Observer thinks that Johnson—the founder of BET and the first black majority owner of a major sports franchise in the US—will not lose money on his $330 million investment. The Bobcats have never made the playoffs, but they’re in contention this year.

A 2009 file photo of Michael Jordan.

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