Michael Jordan

After retiring as a player
After his third retirement, Jordan assumed that he would be able to return to his front office position of Director of Basketball Operations with the Wizards. However, his previous tenure in the Wizards' front office had produced the aforementioned mixed results and may have also influenced the trade of Richard "Rip" Hamilton for Jerry Stackhouse (although Jordan was not technically Director of Basketball Operations in 2002). On May 7, 2003, Wizards owner Abe Pollin fired Jordan as Washington's President of Basketball Operations. Jordan later stated that he felt betrayed, and that if he knew he would be fired upon retiring he never would have come back to play for the Wizards.
Jordan kept busy over the next few years by staying in shape, playing golf in celebrity charity tournaments, spending time with his family in Chicago, promoting his Jordan Brand clothing line, and riding motorcycles. Since 2004, Jordan has owned Michael Jordan Motorsports, a professional closed-course motorcycle road racing team that competes with two Suzukis in the premier Superbike class sanctioned by the American Motorcyclist Association (AMA). Jordan and his then-wife Juanita pledged $5 million to Chicago's Hales Franciscan High School in 2006, and the Jordan Brand has made donations to Habitat for Humanity and a Louisiana branch of the Boys & Girls Clubs of America. On June 15, 2006, Jordan bought a minority stake in the Charlotte Bobcats, becoming the team's second-largest shareholder behind majority owner Robert L. Johnson. As part of the deal, Jordan was named "Managing Member of Basketball Operations," with full control over the basketball side of the operation. Despite Jordan's previous success as an endorser, he has made an effort not to be included in Charlotte's marketing campaigns.
In February 2010, it was reported that Jordan was seeking majority ownership of the Bobcats. As February wore on, it emerged that the leading contenders for the team were Jordan and former Houston Rockets president George Postolos. On February 27, the Bobcats announced that Johnson had reached an agreement with Jordan and his group, MJ Basketball Holdings, to buy the team pending NBA approval. On March 17, the NBA Board of Governors unanimously approved Jordan's purchase, making him the first former NBA player ever to become the majority owner of a league franchise.