Jordan's investment makes him second to only Johnson as the largest individual owner of the expansion franchise, who entered the league three years ago.

NBA great Jordan becomes managing member of basketball operations.

Johnson said: "I'm thrilled to have my friend Michael Jordan join me in my business and sports pursuits. He will provide invaluable input."

He added: "I not only respect Michael for his basketball knowledge and expertise, but also for his business skills, particularly in branding and marketing.