MJ does not have a great record of sitting behind a desk making basketball decisions. Except for Jerry West, Hall of Fame type players usually make bad managers or executives.
You're right. The list is long, in virtually every pro sport, with respect to failed player/administrators. West is clearly the exception, and not the rule.
The only other star player that comes to mind who made the transition to management/owner successfully is Mario Lemieux.
May he do to the Bobcats what he did to the Wizards. Charlotte fans, beware. He will be an absentee owner. He cares more for Chicago than Charlotte.