A team of lawyers from Wachtell, Lipton, Rosen & Katz got the glam job of helping National Basketball Association star Michael Jordan purchase a majority interest in the Charlotte Bobcats. The investment gives Jordan a controlling interest in Bobcats Sports & Entertainment, which runs the Bobcats, and in the Time Warner Cable Arena in Charlotte. The financial terms of the deal, handled by Wachtell partners David Silk and Philip Mindlin, were not disclosed, but Bloomberg reported that the Bobcats' prior owner, Robert Johnson, paid $300 million for the team in 2003, and that the Bobcats, which have a 34-32 record under coach Larry Brown this season, were valued at $278 million by Forbes Magazine in December. Jordan is the first former player to become a majority owner of an NBA team. Jordan also was represented in the transaction by Moag and Company; the team was represented by GSP Securities LLP.