• Michael Jordan sold the Charlotte Hornets for a valuation of $3 billion this summer
• The six-time champion is stepping away from NBA ownership but putting more time into other businesses
• Co-owner of Jordan’s 23XI NASCAR team claims MJ is spending more time focusing on the racing team
The NBA saw a massive shakeup in its Board of Governors, as Michael Jordan officially stepped away from the league and sold his majority stake in the Charlotte Hornets.
With no NBA team owner responsibilities on his shoulders, Jordan has poured his time into his NASCAR team, 23XI Racing, according to co-owner Denny Hamlin.
“He does. Certainly, he’s involved in more meetings. Now he wants to be on every branding e-mail. I’m like, ‘Oh boy, this could be interesting.’ So, yeah, I think he has some more time and perhaps he’s gonna use that more on the race team.”
Denny Hamlin said his co-owner Michael Jordan is involved more in 23XI Racing now that Jordan has sold his majority stake in the Charlotte Hornets.
Hamlin: “Now he wants to be on every branding e-mail.” Btw, Hamlin said he will keep his season tickets. pic.twitter.com/8GuSi67yVE
— Bob Pockrass (@bobpockrass) August 5, 2023
Jordan has been involved in NASCAR since 2020, using his team to spread a message on racial equality. They signed outspoken driver Bubba Wallace to the team when they formed, and it seems will have greater input from Jordan in how to make the team a winning outfit.
Michael Jordan Loves Owning Sports Teams
Michael Jordan is one of the greatest winners we have ever seen in professional sports, not just basketball. Unfortunately, his incredible winning instinct hasn’t translated to his stints as a team owner in the NBA or in NASCAR.
Jordan didn’t lead the Hornets to much success as team owner. In his 13-year tenure, the team never finished higher than the sixth seed in the Eastern Conference. They only made the playoffs thrice and are currently in a seven-year run of not making the postseason, the longest active drought in the NBA.
The NASCAR team has enjoyed more success already. Out of the 69 races that 23XI Racing has entered, they have picked up four victories. While they aren’t one of the top teams in the sport just yet, Jordan’s added wealth from the Hornets’ sale could allow him to slowly convert the team to one of the strongest on the grid in a few years.
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