Michael Jordan Poised To Make Incredible Profits In Hornets Sale

Charlotte Hornets owner Michael Jordan watches during their game against the Atlanta Hawks at Time Warner Cable Arena on November 1, 2015 in Charlotte, North Carolina.  Note to User: User expressly acknowledges and agrees that, by downloading or using this photograph, User is agreeing to the terms and conditions of the Getty Images License Agreement.
(Photo by Streeter Leka / Getty Images)

Michael Jordan’s tenure as owner of the Charlotte Hornets is coming to an end.

He agreed to sell a majority stake in the franchise for $3 billion to an investor group led by Gabe Plotkin and Rick Schnall.

The six-time NBA champion tried to make a mark on this franchise and be as successful as in his playing days, yet things didn’t work out.

From a business perspective, Jordan’s time with the Hornets should be considered a success, as he looks set to make a huge profit after selling the Hornets.

Jordan bought a majority stake in 2010 for $275 million.

If the sale is approved, Jordan will receive approximately 10 times the original investment he made.

Furthermore, Jordan made more in this single move than he has earned with Nike since their partnership began in 1984.

The Hornets were never a contender and never finished higher than No. 6 in the Eastern Conference standings during Jordan’s tenure.

He made questionable decisions in the draft, and even after landing LaMelo Ball in 2020, the team didn’t advance past the play-in tournament.

Jordan leaves the team with a 423–600 record. They posted their best record in 2016 at 48–34, but once again lost in the first round of the playoffs.

Jordan was an incredible player with the Chicago Bulls, but it didn’t help him when leading a team from the front office.

Fans react to Michael Jordan agreeing to be sold to the Charlotte Hornets