{"id":427072,"date":"2023-06-16T18:19:53","date_gmt":"2023-06-16T18:19:53","guid":{"rendered":"https:\/\/yebscore.com\/news\/?p=427072"},"modified":"2023-06-16T18:19:53","modified_gmt":"2023-06-16T18:19:53","slug":"michael-jordan-selling-his-majority-share-in-charlotte-hornets","status":"publish","type":"post","link":"https:\/\/yebscore.com\/news\/michael-jordan-selling-his-majority-share-in-charlotte-hornets\/","title":{"rendered":"Michael Jordan Selling His Majority Share In Charlotte Hornets"},"content":{"rendered":"<p>Michael Jordan&#8217;s NBA ownership tenure is over.<\/p>\n<p>The Charlotte Hornets announced on Friday that the Hall of Famer has agreed to sell the franchise to a consortium led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall. The new ownership group also includes country music singer-songwriter Eric Church and rapper J. Cole.<\/p>\n<h2>Michael Jordan Selling His Majority Share In Charlotte Hornets<\/h2>\n<p>According to league insiders, Michael Jordan has agreed to sell his controlling interest in the Charlotte Hornets to a consortium managed by Gabe Plotkin and Rick Schnall for about $3 billion. Jordan&#8217;s 13-year reign as primary owner comes to an end with the purchase.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Michael Jordan selling majority ownership of Charlotte Hornets: J. Cole will become a minority owner of the team <a href=\"https:\/\/t.co\/XUwaRrNoG7\">pic.twitter.com\/XUwaRrNoG7<\/a><\/p>\n<p>&mdash; Daily Loud (@DailyLoud) <a href=\"https:\/\/twitter.com\/DailyLoud\/status\/1669747829642866699?ref_src=twsrc%5Etfw\">June 16, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>It&#8217;s anticipated that a deal will soon be finalized with the league&#8217;s blessing. According to reports, Jordan will be in charge of basketball operations on Thursday for the 2023 NBA Draft, where the Hornets hold the No. 2 selection, and the beginning of free agency.<\/p>\n<p>According to the article, the new owners will assume over when the NBA has finished its due diligence.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"es\" dir=\"ltr\">Michael Jordan adquiri\u00f3 a los Charlotte Hornets (Bobcats en aquel entonces) por 180.000.000 u$s en 2010, unos 250.000.000 u$s en la actualidad. Hoy esta vendiendo el equipo por 3.000.000.000 u$s. <a href=\"https:\/\/t.co\/Opc1FqIgDI\">pic.twitter.com\/Opc1FqIgDI<\/a><\/p>\n<p>&mdash; CLUTCH TIME \u23f1 (@ClutchTimeArg) <a href=\"https:\/\/twitter.com\/ClutchTimeArg\/status\/1669734864742936577?ref_src=twsrc%5Etfw\">June 16, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Jordan, who grew up in North Carolina, owned the business for 13 years and will continue to be a minority owner.<\/p>\n<p>Plotkin was the head of Melvin Capital, a hedge firm that folded after losing a ton of money shorting GameStop during the meme stock fad.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Michael Jordan\u2019s best moment as the Hornets owner  <a href=\"https:\/\/t.co\/88RO7kNUgU\">pic.twitter.com\/88RO7kNUgU<\/a><\/p>\n<p>&mdash; David Astramskas (@redapples) <a href=\"https:\/\/twitter.com\/redapples\/status\/1669706583436144641?ref_src=twsrc%5Etfw\">June 16, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Jordan&#8217;s 13-year tenure as the Hornets&#8217; main owner comes to an end with the sale. After becoming a co-owner in 2006, he acquired a majority stake in the franchise from George Shinn in 2010 for $275 million. Six-time NBA champion and five-time MVP Michael Jordan is widely regarded as the best player in the sport&#8217;s history and has been the only Black majority owner in the league.<\/p>\n<p>Jordan became the first ex-NBA player to become a billionaire during his tenure as the club&#8217;s owner and changed the name of the team back to the Hornets.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Michael Jordan in 13 seasons as Hornets owner:<\/p>\n<p>\u2022 Never won a playoff series<br \/>\u2022 Never finished higher than 6th in East<br \/>\u2022 5th worse winning % in the NBA<\/p>\n<p>Yet MJ will still make over $2 BILLION on the deal, which is more than he has made from Nike in 40 years.<\/p>\n<p>That&#39;s crazy \ud83e\udd2f <a href=\"https:\/\/t.co\/lKa82kSdES\">pic.twitter.com\/lKa82kSdES<\/a><\/p>\n<p>&mdash; Joe Pompliano (@JoePompliano) <a href=\"https:\/\/twitter.com\/JoePompliano\/status\/1669724304861167617?ref_src=twsrc%5Etfw\">June 16, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Jordan was initially mentioned as being in &#8220;serious talks&#8221; to sell Plotkin and Schnall a controlling ownership in the Hornets back in March.<\/p>\n<p>The Hornets had the second-worst record in the NBA&#8217;s Eastern Conference last season, going 27-55.<\/p>\n<p>Despite entering the play-in tournament last season as the 10th seed in the conference, they have missed the playoffs for seven straight years and have never won a postseason round in Jordan&#8217;s 13 years as owner.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Michael Jordan career earnings breakdown \ud83d\udcb0<\/p>\n<p>NBA Career: $94 Million~<br \/>Nike Lifetime Deal: $1.97 Billion~<br \/>Hornets Sale: $3 Billion~<\/p>\n<p>OVER $5 BILLION TOTAL \ud83e\udd2f <a href=\"https:\/\/t.co\/Gxw47XO53v\">pic.twitter.com\/Gxw47XO53v<\/a><\/p>\n<p>&mdash; Pickswise (@Pickswise) <a href=\"https:\/\/twitter.com\/Pickswise\/status\/1669723646313611265?ref_src=twsrc%5Etfw\">June 16, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<p><strong>FOR MORE SPORTS COVERAGE-\u00a0<\/strong><\/p>\n<p><a title=\"Colorado Coach Deion Sanders Might Have To Get His Foot Amputated\" href=\"https:\/\/yebscore.com\/news\/colorado-coach-deion-sanders-might-have-to-get-his-foot-amputated\/\" rel=\"bookmark\">Colorado Coach Deion Sanders Might Have To Get His Foot Amputated<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Michael Jordan&#8217;s NBA ownership tenure is over. The Charlotte Hornets announced on Friday that the Hall of Famer has agreed to sell the franchise to a consortium led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall. The new ownership group also includes country music singer-songwriter Eric Church and rapper J. [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":391890,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[101,51],"tags":[9560,145,9558,9559,2215,1940],"class_list":["post-427072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte-hornets","category-nba","tag-charlotte-hornets-news","tag-michael-jordan","tag-michael-jordan-hornets","tag-michael-jordan-hornets-sale","tag-nba-news","tag-nba-updates"],"acf":[],"_links":{"self":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/posts\/427072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/comments?post=427072"}],"version-history":[{"count":0,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/posts\/427072\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/media\/391890"}],"wp:attachment":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/media?parent=427072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/categories?post=427072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/tags?post=427072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}