Michael Jordan, the legendary basketball player and owner of the Charlotte Hornets, has announced that he will be selling a majority stake in the team. This news has sent shockwaves through the NBA community, as Jordan has been a prominent figure in the league for decades.
Jordan purchased the Hornets (then known as the Bobcats) in 2010 for $275 million. Since then, he has been heavily involved in the team’s operations, serving as its primary decision-maker and public face. Under his ownership, the Hornets have made several playoff appearances and have become a respected franchise in the league.
However, Jordan has reportedly been looking to sell a portion of his ownership stake for some time now. According to sources, he has been seeking a partner who can help him take the team to the next level and provide additional resources for its growth.
The sale of a majority stake in the Hornets is expected to be a lucrative deal for Jordan. The team is currently valued at around $1.5 billion, and he is said to be seeking a price of at least $1 billion for his stake. This would make it one of the largest transactions in NBA history.
So who might be interested in buying a majority stake in the Hornets? There are several potential suitors, including wealthy individuals and investment groups. One name that has been mentioned is tech billionaire Michael Rubin, who is already a minority owner of the Philadelphia 76ers. Other possibilities include hedge fund manager David Tepper and former NBA player Grant Hill.
Whoever ends up buying the majority stake in the Hornets will inherit a team with a solid foundation and plenty of potential for growth. The Hornets have a talented young roster led by All-Star guard Kemba Walker, and they play in one of the fastest-growing cities in the United States. With the right ownership group in place, there’s no telling how far this team could go.
As for Jordan, he will likely remain involved with the Hornets in some capacity even after the sale. He has expressed a desire to continue working with the team and helping it succeed, and his status as one of the greatest basketball players of all time will always be a valuable asset for the franchise.
In conclusion, the sale of a majority stake in the Charlotte Hornets by Michael Jordan is a major development in the NBA world. It will be interesting to see who ends up buying the team and what changes they might make to take it to the next level. But one thing is for sure: the Hornets are poised for success, and whoever owns them will have a valuable asset on their hands.
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- Source: Plato Data Intelligence.