NBA commissioner David Stern expects Michael Jordan to be approved as majority owner of the Charlotte Bobcats by the end of next month.

Stern released a statement Saturday saying he was "pleased" the former NBA superstar had reached a deal to buy the money-losing team from Bob Johnson. Stern anticipates an expedited approval process by the league's owners.

Jordan has declined to comment after striking a deal late Friday. Jordan has been a part-owner of the Bobcats with the final say on basketball decisions.

One member of Johnson's ownership group, NASCAR team owner Felix Sabates, says he won't be a part of Jordan's group. But Sabates believes Jordan can turn the franchise around as long as he's "not an absentee owner."