Michael Jordan was rumored to be on the hunt to sell his majority ownership of the Charlotte Hornets over the last few months.
According to NBA insider Adrian Wojnarowski, Mike has finally reached an agreement to sell the Hornets after being the majority owner of the team for 13 seasons.
“Michael Jordan is finalizing a sale of the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall, ending his 13-year run as majority owner, league sources told ESPN on Friday,” Woj tweeted.
BREAKING: Michael Jordan is finalizing a sale of the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall, ending his 13-year run as majority owner, league sources told ESPN on Friday. pic.twitter.com/5TonSrIQhF
— Adrian Wojnarowski (@wojespn) June 16, 2023
NBA fans on Twitter were quick to respond to the latest Woj bomb by the ESPN insider. They believe the 60-year-old made the right decision by selling the franchise.
A fan suggested that MJ and LeBron James may unite to purchase a team.
No way he’s done with Basketball.
I have a feeling MJ & Bron will unite for the Vegas Expansion team.
— AJ (@AJGutierrez_20) June 16, 2023
A fan posted a Gif to share their reaction to the news.
Goat GM leaving the game in his prime?! pic.twitter.com/Tj0Ykeu4SA
— RapMuse (@RapMuseTV) June 16, 2023
Another fan thinks that Jordan will get a huge payday after selling the Hornets.
He got a HUGE payday coming… sheesh!
— TheUrbanCEO (@TyronMcDaniel) June 16, 2023
A fan is wondering what Jordan has planned next.
I wonder what's next for The Goat.
— FantasyMagic (@jamesabaileyjr) June 16, 2023
A fan is happy for Jordan.
Happy for him
— Scooterbobrob (@RealScottyOShow) June 16, 2023
Michael Jordan paid just $180 million for the Hornets back in 2010. But it is estimated that he will make more than $1.77 billion after selling his majority stake in the franchise.
But according to Wojnarowski, the actual validation that Jordans sold the Hornets for is approximately $3 billion.
“Michael Jordan is selling his majority stake in the Charlotte Hornets to the Gabe Plotkin/Rick Schnall group for an approximate $3 billion valuation, league sources tell ESPN.”
Michael Jordan is selling his majority stake in the Charlotte Hornets to the Gabe Plotkin/Rick Schnall group for an approximate $3 billion valuation, league sources tell ESPN. pic.twitter.com/zDuhsg8mDE
— Adrian Wojnarowski (@wojespn) June 16, 2023
It’s certainly a GOAT move by Jordan, and it will allow him to have a chance to invest in other business opportunities.
The Charlotte Hornets Record With Michael Jordan As The Owner
Michael Jordan is widely regarded as the greatest basketball player of all time. Keeping that in mind, fans had huge expectations from Mike as the owner of the Hornets.
During his 13-year run as the owner, Jordan was unable to push the team to the next level. It’s evident from the fact that the Hornets made it to the postseason just two times (2014, 2016) under his ownership. But even after MJ’s arrival, the Hornets had just eight playoff appearances.
So, in hindsight, the Hornets may need to revamp how things work for them entirely, with Jordan now selling the team.
Either way, it will be exciting to see what Michael Jordan has in store for the fans. Will he purchase a new team? Or will he finally step away from the NBA? Only time will tell.
We sincerely appreciate and respect you as a reader of our site. It would help us a lot if you follow us on Google News because of the latest update.
Thanks for following us. We really appreciate your support.
