Michael Jordan is set to sell his stake in the Charlotte Hornets, according to Adrian Wojnarowski of ESPN, who tweeted:
"BREAKING: Michael Jordan is finalizing a sale of the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall, ending his 13-year run as majority owner, league sources told ESPN on Friday."
Check out Adrian Wojnarowski's tweet below:
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With news of Jordan's pending sale of the franchise, Jon Greenberg of The Athletic recently implored the Hall of Famer to return to the Chicago Bulls, stating:
"It’s time to welcome back Jordan, time to bring him back into the fold. He’d have to divest from the minority stake in the Hornets that he’s said to be keeping in the wake of a reported $3 billion sale to Gabe Plotkin and Rick Schnall, but he could use his profits to pay a handsome price for a piece of his old team.
"While the profitable Bulls aren’t for sale, imagine what they would go for if the Hornets are truly being sold for $3 billion... My educated speculation has them at more like $5 billion. Would the Bulls’ partners take, say, a billion dollars for a 20 percent cut of the team? Considering there’s no plan to ever sell the franchise in full, why not?"
While Jordan will no longer be the majority owner of the Charlotte Hornets, selling his stake in order to pay a higher price for likely a lesser percentage of the Bulls does not seem like a strong business move. It is unclear what role MJ will retain with the Hornets.
How did Michael Jordan perform as a member of the Chicago Bulls?
Michael Jordan had a legendary career as a member of the Chicago Bulls. In 13 seasons in Chicago, two of which he played less than 20 games, Jordan averaged 31.5 points, 6.3 rebounds, 5.4 assists, 2.5 steals and 0.9 blocks per game while shooting 50.5% from the field.
In the playoffs he averaged 33.4 points, 6.4 rebounds, 5.7 assists, 2.1 steals and 0.9 blocks per game while shooting 48.7% from the field.
Jordan won six championships, six NBA Finals MVPs, five MVPs, one Defensive Player of the Year award, one Rookie of the Year award, 10 scoring titles, three steals titles and three All-Star Game MVPs. He was named to 12 All-Star Teams, 11 All-NBA Teams, nine All-Defensive Teams and the NBA's 50th and 75th Anniversary Teams.
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