Bobcats president Michael Jordan has until the end of February to match an offer to purchase the team, sources told ESPN The Magazine's Ric Bucher.

Charlotte owner Robert Johnson has been trying to sell the team and former Houston president/CEO George Postolos has made a new offer for the franchise.

Jordan negotiated a right of first refusal after Johnson made it clear he intended to sell the Bobcats, according to a team source.

A source close to the situation said that Postolos does not plan to retain Jordan or his staff if he is successful in purchasing the Bobcats.