( CNN ) -- Retired basketball icon Michael Jordan bought a majority share of the NBA 's Charlotte Bobcats , officials said Saturday . Jordan , who was already a minority owner of the team , headed a group that bought a majority share of the team from businessman Robert Johnson , Johnson said in a statement . Johnson said he has signed a `` definitive agreement '' to sell majority interest of Bobcats Sports and Entertainment to Michael Jordan and MJ Basketball Holdings , LLC . The deal is subject to NBA approval . Details on the purchase price were not available . Jordan has overseen the team 's basketball operations in recent years . He won six NBA titles with the Chicago Bulls . Johnson , who founded BET and sold it to Viacom for $ 3 billion in 2001 , announced that he had been looking for someone to buy earlier this year . His fortune was depleted by an expensive divorce , but in a 2009 interview with CNN , Johnson estimated his net worth was still $ 1.1 billion . Johnson 's resume is full of firsts : BET was the first African-American owned company traded on the NYSE . He was the first African-American billionaire in the United States . And , in 2002 , he became the first African-American majority owner of a professional sports franchise .
Michael Jordan buys controlling stake in Charlotte Bobcats franchise . Jordan has been running team 's basketball operations . Businessman Robert Johnson had been looking to sell team .