Charlotte Hornets owner Michael Jordan is reportedly in “serious talks” about selling his majority stake of the franchise, per ESPN NBA insider Adrian Wojnarowski.
So, how much money could the all-time great hooper be getting for the Charlotte franchise?
Jordan paid $180 million for the team (then the Charlotte Bobcats) back in 2010. It’s now worth around $1.77 billion, per sports business insider Joe Pompliano.
Jordan is reportedly considering a sale to a group led by Hornets minority owner Gabe Plotkin, who’s teaming up with Atlanta Hawks minority owner Rick Schnall.
If Jordan were to sell, he would still retain a minority stake in the franchise, per Wojnarowski.
The Hornets have struggled under the 13 years of Jordan’s leadership. The franchise has only made the playoffs twice on MJ’s watch, the last time coming in 2016. The team has also been through five different head coaches during his majority ownership.
The Hornets are currently second to last in the Eastern Conference with a 22-49 record.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Basketball News Click Here
