In a significant and emotional development, NBA legend Michael Jordan has decided to sell his majority stake in the Charlotte Hornets. After 13 years of ownership marked by challenges and limited success, Jordan has agreed to sell the team for a staggering $3 billion.
His tenure with the Hornets was highlighted by difficulties in achieving playoff success and making impactful draft picks. Despite the team’s struggles, this sale will result in a massive profit for Jordan, who initially purchased the team for $275 million in 2010​ (essentiallysports)​​ (sportspickle)​.
This decision underscores the complexity and high stakes of NBA team ownership, even for a legendary player like Jordan. His ownership period saw the team achieving only a few playoff appearances, with no series wins, and ranking among the lowest in terms of winning percentage. Notable missed opportunities in the draft, such as passing on future stars like Damian Lillard, Bradley Beal, and Devin Booker, also marked this era.
Jordan’s departure from the ownership role is a significant moment, not just for the Hornets, but for the NBA
