Basketball legend Michael Jordan has reportedly been in talks to sell his majority stake in the Charlotte Hornets, according to NBA insider Adrian Wojnarowski. The news broke on March 16th, sending shockwaves through the sports world. Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall are said to be the frontrunners to acquire Jordan’s majority stake in the team.
Jordan purchased the stake in the Hornets franchise back in 2010 for a whopping $275 million, making him the only Black majority owner in the NBA. At the time, he expressed his excitement and pride in fulfilling his lifelong dream of owning an NBA franchise, particularly one located in his home state of North Carolina.
The possible sale of Jordan’s majority stake in the team has sparked speculation and concern among fans and industry experts. Some have questioned why Jordan would consider selling his ownership in the Hornets, while others have wondered about the potential impact on the team’s future.
One possible explanation for the sale is the fact that Jordan is now in his late 50s and may be looking to reduce his responsibilities and focus on other projects. In recent years, he has expanded his business ventures beyond basketball, including launching his own clothing brand and investing in a NASCAR team.
Another factor could be the Hornets’ recent struggles on the court. Despite some promising seasons since Jordan’s ownership, the team has yet to make a deep playoff run and has often struggled to compete with the league’s elite teams. Jordan may feel that selling his majority stake could help bring in new leadership and fresh ideas to turn the team around.
Despite the potential sale, Jordan is expected to retain a minority stake in the Hornets, meaning he would still have a say in the team’s operations and future direction. This news has provided some relief to fans who were worried about losing one of the NBA’s most iconic figures from the league.
The Hornets are currently in the midst of the 2022-23 NBA season, and it remains to be seen how the possible sale of Jordan’s stake will impact the team’s performance. For now, fans will have to wait and see what happens next and hope that the Hornets can still build a winning team in Jordan’s home state, with or without his majority ownership.
