Haven't I seen this somewhere before?

The referenced AP article details Michael Jordan's investment in the NBA's Charlotte Bobcats alongside BET founder Robert L. Johnson. I hope Jordan has learned from his mediocre years presiding over the Washington Wizards. If not, this could be another flop.

Incidentally, Johnson had this to say:

"Michael has made several attempts to own his own team, and the NBA has been very active in trying to help Michael acquire a team," Johnson said. "When that didn't happen and time passed on, I think Michael saw this as a way to be connected with basketball, do other business pursuits and do something with a friend of his in Carolina where he was born and played ball."

Actually, Jordan was born in Brooklyn.