Charlotte Hornets owner Michael Jordan is universally recognized as the greatest basketball player to ever grace the hardwood. But as an owner “MJ” hasn’t had nearly the success. On Thursday it was reported that Jordan is in serious talks to sell his majority stake in the team. Reports are the six-time NBA champion is considering selling his majority stake to Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall.
It’s also being reported that Jordan wouldn’t completely absolve himself of the franchise he became majority owner of 2010, he’d instead become a minority owner.
Jordan purchased the team from then majority owner Bob Johnson for $275 million. Johnson, the founder of BET, brought MJ in as a minority investor in 2006.
Now it looks as if MJ is ready to take a lesser role, while turning it over to minority o we’re himself.
Since 2010, with Jordan at the helm the Hornets have only qualified for the postseason twice, with the last time coming in 2016. They’ve had five head coaches, which effects continuity and culture, and they’ve had only one All-Star, Kemba Walker.
Hornets Haven't Been Very Good Under MJ
A (417-594) record under Jordan’s tenure as owner doesn’t help matters. And the franchise has continuously missed on draft picks, excluding 2021 NBA Rookie of the Year, LaMelo Ball, who looks like the franchise player. In all, Jordan hasn’t been very successful as an owner, and he even lost close friend Charles Barkley behind his struggles as an owner.
In a November 2022 interview with Bleacher Report’s Taylor Rooks, Sir Charles discussed why he and Jordan haven’t spoken in ten years.
“What I said was, ‘Michael’s got to surround himself with better people,” Barkley said. “And I said I worry about him being successful. Because when you’re a star — because he’s the biggest star I’ve ever been around — everybody around you is going to tell you what you want to hear. And I didn’t think he had good enough supporting cast around him in the front office to be successful.
“I said that, and I had no problem saying it, because it was the truth. And he took offense. And he called me, and it wasn’t a pleasant conversation, and we haven’t spoken since then.”
MJ Is One Of One
If Jordan does sell, the move would take away the only Black majority owner of a major sports franchise which includes the NBA, NFL, MLB and NHL. And while the aforementioned Johnson was in those same shoes, he doesn’t carry any of the star power that “His Airness,” does.
And although he’s struggled as an owner, just to have to him attached to the game he once dominated has been a big deal. He gave it a try, but it you’ve ever watched a Hornets the anguish of losing, and losing often is just eating arguably the most competitive player we ever seen up inside.
It may be time to step away.
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