Statement by Robert L. Johnson: Majority Ownership Sale of the NBA Charlotte Bobcats — CHARLOTTE, N.C., Feb. 27 /PRNewswire/ —

February 27, 2010

CHARLOTTE, N.C., Feb. 27 /PRNewswire/ — Robert L. Johnson, the majority owner of Bobcats Sports and Entertainment today announced that 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. Further details of the sale will be provided by the NBA.

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