Michael Jordan sells Hornets

[Roy H.]

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.

An agreement is expected to be signed in the coming days, sources said.

Schnall, a minority owner with the Atlanta Hawks, and Plotkin, a minority owner with the Hornets, will become the franchise's governors once the NBA completes its vetting and approval process. Jordan will continue to oversee basketball operations through next Thursday's NBA draft and the start of free agency on July 1.

Once the sale is complete, Jordan is expected to keep a minority stake and a presence with the franchise, sources said.

[Kernewek]

I think he paid in something like 455 mil overall for the franchise, first to become a minority owner than a majority owner.

Not that he really needs to be richer, but I assume this is a massive cashout for him, and less stressful to boot.

[Who]

I read that MJ is less interested in the team these days. That he spends less time there. Doesn't get much enjoyment out of the team. Prefers to live in Florida. That he was selling the team because he wasn't getting much out of owning it.

If that is correct, I am surprised he kept a minor stake in the team.

[Roy H.]

I read that MJ is less interested in the team these days. That he spends less time there. Doesn't get much enjoyment out of the team. Prefers to live in Florida. That he was selling the team because he wasn't getting much out of owning it.

If that is correct, I am surprised he kept a minor stake in the team.

I'm not surprised because it seems inevitable that that minority stake will increase in value significantly over time, relative to other investments.  Also, even if he doesn't like the day-to-day, I'm sure he's retaining some pretty cool perks.

[Birdman]

Dude was horrible for them in his 13 years there…0 playoffs wins

[Celtics4ever]

He was probably a bigger draw than the team.

But is not like Michael was the one making all those picks.

Bernie Bickerstaff – 2003 – 2007,  Rod Higgins from  2007 – 2011, Rich Cho was teh GM from 2012-2018. Mitch Kupchak 2019 to present.

https://bleacherreport.com/articles/1329202-michael-jordan-reportedly-will-take-a-step-back-in-bobcats-gm-operations

 You have to understand two things about , he is competitor of the highest nature and he is a gambler.   Gambler's always believe they can get lucky and hit  on stuff.

A good read on him
https://bleacherreport.com/articles/1355148-retracing-every-bad-decision-in-michael-jordans-tenure-as-an-owner

[cons]

think we can get him here?

hahaha

[Ed Monix]

In my opinion, this is the perfect visual summation of Michael Jordan’s ownership.

Jordan being upset at one of his employees, trying to smack him in the back of the head like he’s a small child, missing and then getting him to come back…so you can actually hit him.

[gouki88]

In my opinion, this is the perfect visual summation of Michael Jordan’s ownership.

Jordan being upset at one of his employees, trying to smack him in the back of the head like he’s a small child, missing and then getting him to come back…so you can actually hit him.

Love that clip of him and Monk. Was exactly how he was as a player. Hilarious