Michael Jordan earns surreal amount after sale of NBA team

michael jordan is no longer the majority owner of the charlotte hornets. The greatest player in basketball history sold the franchise NBA for a group consisting of Gabe Plotkin It is Rick Schnall. It is worth mentioning that he was a partner of the team for 13 years and had a quick rise in command of the North American basketball team.

It is important to note that Plotkin, for example, in the ‘Michael Jordan Era’ was already among the Hornets’ partners, but did not have great power within the franchise. With the purchase, he took charge of the team alongside Schnall. Rick, by the way, has a long past with the Hawks, but he left Atlanta to focus on improving Charlotte.

Now, Michael Jordan is even richer than he already was. With NBA approval surrounding the sale of the Hornets, the world basketball star earned something around R$ 13 billion after negotiating with the group of investors. In all, the sale of the franchise generated BRL 14.2 billion for those involved in the team’s corporate structure.

Michael Jordan’s story with the Hornets began in 2006. At the time, he didn’t think twice and became a minority partner in the franchise. Over time, the greatest basketball player of all time became the majority partner in 2014 and tried to conduct a more audacious project in North Carolina, but it did not work out.

Under Michael Jordan, the Hornets have not performed very well in recent seasons. To get an idea, in 2022/23, the team was in the penultimate position of the Eastern Conference. There were only 27 wins and 55 losses. Also, Charlotte never managed to be champion of the NBA. The best placement was in 1997/98, when it was fourth.

The Hornets franchise was founded in 1988 and has undergone changes over the last few years. During a short period, the team changed its name and was called the Bobcats. As time passed, the first nomination came back and was under the command of Michael Jordan. It is noteworthy that he opted to acquire the team as he has strong roots with North Carolina State.