Michael Jordan is one of the greatest players in NBA history. After winning six championships with the Chicago Bulls, the legacy on the court is unquestionable, but, it wasn’t the same as an executive.
In 2010, Jordan became the majority owner of the Hornets and the first former player to ever do that. However, he never made them a championship caliber team. Since the 2006-2007 season, Charlotte only won three playoffs games.
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Furthermore, in that same period, the Hornets had the fifth worst winning percentage in the NBA. Even with these performances, thousands of fans are surprised by the incredible amount of money Michael Jordan is set to make by selling the team.
How much money will Michael Jordan get from selling the Hornets?
Michael Jordan bought the Hornets in 2010 for almost $275 million and, 13 years later, the franchise is valued in more than $3 billion. However, he’s not entirely out of the team.
As part of the agreement, Jordan will retain a minority ownership share of the Hornets. The sale is to a group of investors led by Gabe Plotkin and Rick Schnall and the operation is still subject to the approval of the NBA Board of Governors.
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