Michael Jordan is in "serious talks" to sell a portion of his stake in the Charlotte Hornets, according to ESPN's You do not have permission to view the full content of this post.
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Jordan would retain a minority stake in the franchise, but Gabe Plotkin and Rick Schnall would become the co-governors.
Plotkin is a minority owner of the Hornets, while Schnall is a minority owner of the Atlanta Hawks.
This would be a great time for Jordan to sell up.
In December, Mat Ishbia You do not have permission to view the full content of this post. Log in or register now. a controlling stake in the Phoenix Suns as well as the WNBA's Phoenix Mercury from Robert Sarver for $4 billion. Two months later, Marc Lasry You do not have permission to view the full content of this post. Log in or register now. his stake in the Milwaukee Bucks to Jimmy and Dee Haslam in a transaction that valued the team at $3.5 billion.
Whether he sells now or at another date down the road, Jordan stands to earn a significant profit on the You do not have permission to view the full content of this post. Log in or register now. he spent to purchase the Hornets from Bob Johnson in 2010. You do not have permission to view the full content of this post. Log in or register now. valued them at $1.77 billion in December, a figure that could be well below any final price. The Suns, for example, were valued at $3 billion.
Hornets fans might welcome an ownership change.
While Charlotte hasn't experienced much dysfunction and mismanagement since Jordan took over, it hasn't seen a ton of success either. The Hornets have made three playoff trips during his tenure and lost in the first round each time.
The franchise has You do not have permission to view the full content of this post. Log in or register now. on draft picks, and Jordan's profile hasn't helped Charlotte land marquee free agents.
The run of futility strikes quite the contrast with MJ's playing career, when his desire to win was legendary.
The Hornets' fortunes aren't guaranteed to improve with new owners, but it's hard to see how they'd be much worse with someone else in control.
Jordan would retain a minority stake in the franchise, but Gabe Plotkin and Rick Schnall would become the co-governors.
Plotkin is a minority owner of the Hornets, while Schnall is a minority owner of the Atlanta Hawks.
This would be a great time for Jordan to sell up.
In December, Mat Ishbia You do not have permission to view the full content of this post. Log in or register now. a controlling stake in the Phoenix Suns as well as the WNBA's Phoenix Mercury from Robert Sarver for $4 billion. Two months later, Marc Lasry You do not have permission to view the full content of this post. Log in or register now. his stake in the Milwaukee Bucks to Jimmy and Dee Haslam in a transaction that valued the team at $3.5 billion.
Whether he sells now or at another date down the road, Jordan stands to earn a significant profit on the You do not have permission to view the full content of this post. Log in or register now. he spent to purchase the Hornets from Bob Johnson in 2010. You do not have permission to view the full content of this post. Log in or register now. valued them at $1.77 billion in December, a figure that could be well below any final price. The Suns, for example, were valued at $3 billion.
Hornets fans might welcome an ownership change.
While Charlotte hasn't experienced much dysfunction and mismanagement since Jordan took over, it hasn't seen a ton of success either. The Hornets have made three playoff trips during his tenure and lost in the first round each time.
The franchise has You do not have permission to view the full content of this post. Log in or register now. on draft picks, and Jordan's profile hasn't helped Charlotte land marquee free agents.
The run of futility strikes quite the contrast with MJ's playing career, when his desire to win was legendary.
The Hornets' fortunes aren't guaranteed to improve with new owners, but it's hard to see how they'd be much worse with someone else in control.
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