Michael Jordan is officially not the majority owner of an NBA franchise anymore. The NBA Board Of Governors approved the sale of the Hornets by Jordan to Rick Schnall and Gabe Plotkin for a valuation of around $3 billion.
The sale process has been uncontroversial, with an agreement being reported weeks ago with the sale going through in a timely fashion. There was a minor speed bump that many fans didn’t see coming, as it was revealed that Knicks owner James Dolan voted against the sale.
“The BOG vote was 29-1 to approve the sale. Knicks owner James Dolan registered the lone vote against.”
ESPN Sources: The BOG vote was 29-1 to approve the sale. Knicks owner James Dolan registered the lone vote against.
— Adrian Wojnarowski (@wojespn) July 23, 2023
Dolan’s motivations are unclear for most at this point. The only link here, although a very basic one, is that new co-owner Rick Schnall has a private equity firm in New York. Maybe he and Dolan have crossed paths in an unsavory fashion before? We’ll likely get more light illuminated on this vote later, but this was an interesting wrinkle.
Michael Jordan Was The Only Black Team Governor In The NBA
Michael Jordan being the majority owner of an NBA team was a wonderful thing for many reasons. One of the primary ones was that he served as an example to all players that they can one day ascend to the level of team ownership. That is a desire of LeBron James, so Jordan leaving now means we likely won’t see the pair compete against each other as team owners in the future. He’s still a minority owner of the Hornets.
Along with being the only former player to own a team, Jordan was also the only Black majority owner in the league. The league has POC owners such as Indian Vivek Ranadive of the Sacramento Kings and Taiwanese Joe Tsai of the Brooklyn Nets in the mix still.
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