Selling the Hornets stake could make Michael Jordan over $1.7 billion as he looks at another major payday
There have been several reports this month that Michael Jordan could be selling his major stake in the Charlotte Hornets. Jordan is looking forward to filling up his bank account as the trending value of the Hornets franchise is now at $1.7 billion. The six-time champion could potentially sell his stake to a group led by franchise minority owner Gabe Plotkin.
Selling the Charlotte Hornets to Plotkin doesn't mean Michael Jordan will no longer be involved with the franchise. According to sources, MJ will still be a minority owner after successfully dealing with his major stake. As sad as this may be for Hornets fans, Jordan is making the right decision, especially considering that he'll be gaining a 443% increase from what he initially paid for back in 2010.
Is selling the Charlotte Hornets the best move for Michael Jordan?
Back in 2010, the six-time NBA champion Michael Jordan bought a 65% stake worth $275 million in the Charlotte Bobcats. During Jordan's tenure, he rebranded the franchise and brought the Charlotte Hornets back into the league. He was able to build a star in Kemba Walker and slightly improve the franchise's reputation. However, not much has changed since the Bobcats era.
The Hornets never found any playoff success and were never able to capitalize on draft picks and trades. The best thing to have happened to the franchise so far was when LaMelo Ball was drafted to the team back in 2020. While Charlotte found themselves a certified star, Ball was never able to elevate the team's status due to a lack of roster depth.
For someone who went undefeated in the NBA finals, Michael Jordan had trouble providing the Hornets franchise the success they desperately needed.
Given how the situation is at the moment, it seems like the franchise is in need of a fresh start. The best way to achieve that is if Jordan pushes through with selling the franchise.
It's honestly a win-win situation for both parties. MJ will make a huge profit while the Hornets franchise will be led by a new face that'll run the place. This could lead to hiring better staff members, which could significantly improve the team.