NBA Rumors - Michael Jordan is seriously considering selling the Charlotte Hornets
Michael Jordan’s 13-year tenure as the majority owner of the Charlotte Hornets could come to a surprising end.
Per Adrian Wojnarowski of ESPN:
“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.”
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. https://t.co/jg03W25s49
Should the deal go through, Plotkin and Schnall would take over as co-governors of Jordan’s hometown team. “His Airness,” though, would remain as a minority owner.
Plotkin had already bought a minority stake in the franchise back in 2020. Daniel Sundheim, who is part of a group that’s planning to buy the Hornets, also purchased the same minority stake from Jordan three years ago.
Michael Jordan became a minority owner in 2006 and then paid $275 million in 2010 for a majority stake in the franchise. He’s currently the only black majority owner.
Jordan wanted to make the team relevant again after years of playoff misses. When he became part of the ownership group in 2006, Charlotte did not reach the postseason in four years. His grand plans, however, didn’t have the desired impact on the team.
It wasn’t until 2010 that they made the playoffs where they were swept by the Orlando Magic. The Hornets have appeared in the postseason just thrice in the Jordan-era.
Michael Jordan’s GOAT-worthy NBA career hasn’t translated to success as an owner
Michael Jordan became the basketball operations head of the Charlotte Hornets when he joined as a minority in 2006. He has made some obvious blunders that have often made the team the laughingstock in the NBA.
In 2006, he made Adam Morrison the third pick of the 2006 NBA Draft. It was a decision so bad that “His Airness” will never be able to shake off that part of his resume as a basketball executive.
Morrison was a three-year star in Gonzaga but there were already reported red flags that Jordan chose to ignore. Charles Barkley criticized Jordan's move to draft Morrison, an incident that led to their falling out. The two formerly close friends have not spoken to each other since.
Oh yea I almost forgot. Michael Jordan drafted Adam Morrison over Brandon Roy. #CutDaShitMike
Adam Morrison was a bust. Jordan drafted him over Brandon Roy, who the Portland Trail Blazers grabbed at No. 6. “MJ” could also have tried to move up to snare LaMarcus Aldridge, who the Blazers happily took as the first pick in 2006.
Gerald Wallace, Stephen Jackson and Emeka Okafor were also important players who made the Charlotte Hornets competitive. Jordan ultimately traded them without improving the franchise.
Wallace was, at one point, the face of the franchise. However, Michael Jordan wanted to lower the payroll so he sent him to the Portland Trail Blazers. In return, Jordan got Dante Cunningham, Sean Marks, Joel Pryzbilla, cash, and first-round picks in 2011 and 2014.
Former Charlotte Bobcats F Gerald Wallace: Trade to Portland Trail Blazers a 'stab in the back' - http://es.pn/fr4ftE
None of these players were on the team when the Hornets got back to the playoffs in 2016.
Michael Jordan notably drafted Kemba Walker and the point guard was the brightest spot in Jordan’s resume as an executive. Walker was a three-time All-Star in Charlotte and was the main reason fans flocked to see the team.
However, he didn’t get the kind of supporting cast he needed to carry the team to relevance.