Michael Jordan and the Charlotte Hornets have no ties anymore after the Chicago Bulls legend decided to sell the team following a 13-year run that never brought success to the franchise.
Jordan is reportedly selling the team for around $3 billion, which is a lot more than he originally paid for it, $275 million. This is also a lot more than he’s made with his biggest source of income, the Nike deal. Joe Pompliano breaks down the bad run Jordan had in Charlotte and how it didn’t matter at the time of selling the Hornets.
– Never won a playoff series in two postseason appearances.
– Never finished higher than sixth in the Eastern Conference.
– Holds the fifth worse winning % in the NBA over the past 13 seasons.
Michael Jordan in 13 seasons as Hornets owner:
• Never won a playoff series
• Never finished higher than 6th in East
• 5th worse winning % in the NBA
Yet MJ will still make over $2 BILLION on the deal, which is more than he has made from Nike in 40 years.
That's crazy 🤯 pic.twitter.com/lKa82kSdES
— Joe Pompliano (@JoePompliano) June 16, 2023
Even though he never took his team past the First Round of the playoffs, Jordan made a big deal for it. Whatever the price he got for the franchise is more than he’s made from Nike during his 40-year relationship with the company.
According to Sportico, Jordan has earned around $1.8 billion from his deal with Nike, which is more than the Hornets’ previous valuation ($1.7 billion), but not enough to surpass the number he’s getting after this deal is completed.
Before this move, he was the highest-paid athlete of all time, with $3.3 billion. In 2022, he made $180 million, with a big chunk coming from his partnership with Nike.
Michael Jordan’s Brand Made $5 Billion Annually In 2022
Despite his desire to sign with Adidas before the American company convinced him to bet on them, the Jordan-Nike partnership was a match made in heaven and the numbers they’ve posted during all these years are the perfect example of that.
The Jordan Brand broke the $5 billion barrier for the first time in 2022, with MJ getting a chunk of those sales. It’s been quite a journey for the player and the company, and they’re not stopping anytime soon.
He’s not the owner of the brand, but his name and likeness are everywhere, allowing Jordan to become a global figure.
However, the deal he just made to sell the Hornets can get him a bigger paycheck than all these years with Nike.
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