The NBAs most iconic name, Michael Jordan is the current majority owner of the Charlotte Hornets. Reports from Adrian Wojnarowski indicate that Jordan has engaged in serious talks to sell his majority stake in the team. These talks are being led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall. While Jordan is looking to sell the majority stake, he’ll likely keep a minority interest in the team.
ESPN Sources: Charlotte Hornets owner Michael Jordan is engaged in serious talks to sell a majority stake in the franchise to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall. pic.twitter.com/jg03W25s49
— Adrian Wojnarowski (@wojespn) March 16, 2023
Michael Jordan set for a big payday
According to Yahoo Finance, Michael Jordan is already the wealthiest athlete of all time. Jordan purchased the Charlotte Hornets for $275 million in 2010. Today, the franchise is estimated to be worth $1.77 billion.
Michael Jordan spent $275M to buy Charlotte's NBA franchise in 2010 — the first ex-player to be a majority owner.
Now, he's in talks to sell the team to Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall.
He'd maintain a minority stake, per @ESPN. pic.twitter.com/4H3jHvhDJL
— Front Office Sports (@FOS) March 16, 2023
If Michael Jordan would have played in todays NBA, his net worth would be increasingly higher. During his career, Jordan only earned over $4 million twice. It’s no secret, most of Jordan’s net worth comes from his deal with NIKE. The deal with NIKE has earned Jordan over $1 billion. If the sale of his stake does come to fruition, Michael Jordan may never be caught by any other athlete in total wealth.
Less than Successful
Michael Jordan purchased the Charlotte Hornets who were then the Charlotte Bobcats in February of 2010. In 2010, the Bobcats earned a trip to the playoffs but failed to win a single game. The team only managed to make the playoffs two additional times after that under Jordan’s majority ownership.
During Jordan’s 13 full seasons as the majority owner including this current one, the team has accumulated a record of 418-594. The worst season was by the Charlotte Bobcats in 2011-12 when the team went 7-59. If you’re wondering why those numbers don’t add up to 82 game, this was the year of the NBA lockout. The lockout delayed the season start from November to December and reduced the number of games from 82 to 66.
It’s hard to tell what Michael Jordan will do next but let’s hope whatever team he’s apart of is more successful than the Charlotte Hornets.
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