Depending on how you feel about LeBron James and a few others, Michael Jordan was, arguably the greatest player in basketball history. Yet, those who witnessed his 13-year reign as the majority owner of the Charlotte Hornets will tell you his tenure was anything but magnificent.
Yet, Jordan’s run with the Hornets is over after the NBA’s Board of Governors officially approved the sale of the franchise to an ownership group led by Rick Schnall and Gabe Plotkin. Schnall was previously a minority owner of the Atlanta Hawks but now is part of the majority team controlling the Hornets instead. Plotkin was already a minority owner of the Hornets, so he’s simply increasing his stake.
According to Adrian Wojnarowski, the Hornets were purchased for approximately $3 billion, and the final sale is expected to be executed in the next week or two, barring any last-minute surprises.
While he obviously wasn’t a part of the roster, Jordan’s teams made the playoffs just three times under his ownership, getting bounced from the first round of the postseason each year. Coming off a 27-55 record, the hope is the Hornets can quickly bounce back in coach Steve Clifford’s second season at the helm.
Even though he will no longer be considered a majority owner, Jordan will still retain a minority share in the organization. Just how much of a stake he’ll control remains unknown.