Michael Jordan has been the Charlotte Hornets majority owner for the past 13 seasons.
That officially ended on Sunday, according to ESPN’s Adrian Wojnarowski
“ESPN Sources: The NBA’s Board of Governors has approved the sale of the Charlotte Hornets to a group led by Rick Schnall and Gabe Plotkin, clearing the way to end Michael Jordan’s 13-year run as majority owner.
“The completed sale of the team — purchased at an approximate $3 billion valuation — will be executed in the next one-to-two weeks, sources said.”
The completed sale of the team — purchased at an approximate $3 billion valuation — will be executed in the next one-to-two weeks, sources said.
— Adrian Wojnarowski (@wojespn) July 23, 2023
As a player, Jordan was phenomenal. He’s universally considered as the greatest basketball player ever besides those who give the crown to LeBron James or Kobe Bryant.
As an executive, Jordan has yet to replicate the same success, especially while running the Hornets. The team has only made the postseason just three times under his ownership tenure.
However, Jordan remains a remarkable businessman, securing an incredible bag for the franchise.
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