7x NBA champion executive reveals real reason why Michael Jordan sold $3 billion Hornets stake

Back in the summer of 2023, Michael Jordan made the decision to sell his ownership stake in the Charlotte Hornets. Over a year removed from the sale, one person close to the six-time champion reflected on what led to him moving on from the franchise.

For the back end of Jordan's tenure as owner, Mitch Kupchak was brought in to serve as general manager. Having won a total of seven titles as a player and executive, he could help the Hornets turn things around. However, things have not panned out that way.

While appearing on the Hold My Banner show, Kupchak touched on Michael Jordan selling the Hornets last year. He feels the NBA icon stepped away because he doesn't fit in with the modern game.

"Really tough for him to be patient and build out the team," Kupchak said. "I'm not sure going forward that he was comfortable with the direction the NBA was heading."

"The NBA with the salaries, and the rules, and all the exposure and player maintenance," he continued. "The way the player is today versus the player 30 years ago."

Jordan originally bought the Hornets in 2010 for a total of $275 million. 13 years later, he sold his stake for $3 billion.

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Breaking down Michael Jordan's tenure as owner of the Charlotte Hornets

When Michael Jordan bought the Hornets in 2010, they were fresh off winning 44 games and reaching the postseason. While the Chicago Bulls legend had a lot of success as a player, his tenure as owner did not go how he might have hoped.

Across 13 years under Jordan's watch, Charlotte never won more than 48 games and only made the playoffs on three occasions. Of their three playoff berths, the Hornets failed to make it past the first round.

Part of what led to Michael Jordan's downfall with the Hornets was their failure to land high-end talent in the NBA draft. They've done better as of late with guys like LaMelo Ball and Brandon Miller. However, the Hornets have had multiple blemishes over the past decade-plus.

Another factor in their limited success was limited high-end talent. Outside of Kemba Walker, the Hornets failed to bring in talented players who could help change the trajectory of the franchise.

One of the biggest signings of Jordan's time as owner was bringing in Gordon Hayward. The former All-Star put up solid numbers but failed to stay in the lineup consistently enough to make a major difference.

As a player, Jordan is widely regarded as the greatest in NBA history. That said, his time as an owner has become the lowlight of his historic career. Even though the franchise wasn't successful under his ownership, it still ended up being a great investment for MJ as he sold the franchise at a massive price tag.