• Loading stock data...
Saturday, July 19, 2025

Jordan Walks Away From Hornets With Billions, But No Titles

  • NBA team is valued at $3 billion as Michael Jordan sells majority stake.
  • Jordan bought franchise for $180 million in 2010.
Jeremy Brevard-USA TODAY Sports

Michael Jordan will end his ownership of the Charlotte Hornets with a major return on his initial investment — despite just three playoff appearances during his 13-year tenure.

The Hornets’ $3 billion valuation, according to ESPN, is more than 10 times the $180 million Jordan paid for the franchise in 2010. That figure is much higher than Forbes’ most recent valuation of the team ($1.7 billion) but lower than the NBA record $4 billion the Phoenix Suns sold for last year.

In 2020, Jordan sold a minority stake to Gabe Plotkin, who is becoming one of the team’s new governors alongside Rick Schnall, who is selling his minority stake in the Atlanta Hawks.

Jordan’s $2 billion-plus haul from selling the Hornets only adds to his fortunes, which are still growing annually. He takes a 5% cut of Jordan Brand sales — reported to be a $256 million payment in 2022 — and owns his $20 million private golf club that is home to pros like Brooks Koepka.

The Buzz in Charlotte

Despite his star power, Jordan was never able to lure top free agents to Charlotte, which recorded a .407 winning percentage during 13 full seasons under Jordan.

The new Hornets owners will be tasked with returning the team to the playoffs under the leadership of star guard LaMelo Ball and the player selected No. 2 overall in next week’s NBA Draft.

Jordan reportedly would have reconsidered selling had the Hornets won the NBA Draft lottery and the right to pick French sensation Victor Wembanyama.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Golf’s Prize Money Boom Is Slowing Down

There is no purse increase at The Open Championship.

WNBA Stars Say Zero Progress Made at CBA Meeting

The WNBA and its union had their first in-person meeting Thursday.

New NFLPA Head Will Face Multibillion-Dollar Decisions

The next NFLPA leader will wrestle with a series of pressing issues.

Featured Today

Ryan Field Construction
exclusive

First Look Inside Northwestern’s $862 Million New Ryan Field

Five big things FOS learned on our exclusive stadium tour.
Jul 21, 2024; Ayrshire, SCT; Xander Schauffele celebrates with Claret Jug after winning the Open Championship golf tournament at Royal Troon.
July 17, 2025

The Boozy History and Traditions of The Open’s Claret Jug

The Open awards the world’s most famous wine decanter.
2025 PDC World Darts Championship Final - Luke Littler vs Michael Van Gerwen
July 16, 2025

A Teen Darts Prodigy Is Becoming Bigger Than the Game Itself

Luke ‘The Nuke’ Littler is cashing in on his devastatingly accurate shot.
May 31, 2025; Philadelphia, PA, USA; Sydney McLaughin-Levrone (USA) reacts before the women's 100m hurdles during the Grand Slam Track Philadelphia at Franklin Field
exclusive
July 13, 2025

Track’s New Money Is Running Into Old Problems

The sport’s big-money era has hit some speed bumps in 2025.

Michael Jordan’s NASCAR Team Loses Another Legal Battle

23XI Racing has lost its Cup Series charter status for the time being.
WNBA
July 15, 2025

Portland WNBA Team Will Be Fire, Bigger Choices Loom

The WNBA’s 15th franchise is bringing back the Fire.
Jul 2, 2025; Tampa, Florida, USA; Tampa Bay Rays left fielder Jake Mangum (28) leaps for a ball over the wall against the Oakland Athletics in the second inning at George M. Steinbrenner Field.
July 16, 2025

Rays Will Play Potential Playoff Games at Spring Training Stadium

Tropicana Field is undergoing hurricane renovations.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
May 12, 2025; New York, New York, USA; Boston Celtics forward Jayson Tatum (0) shoots the ball in the second half during game four of the second round for the 2025 NBA Playoffs against the New York Knicks at Madison Square Garden.
exclusive
July 14, 2025

Celtics, Lakers Sales Not on Agenda for NBA Board of Governors Vote

The Board of Governors will meet Tuesday.
Alex Rodriguez
July 11, 2025

Finally in Charge, A-Rod Says Timberwolves Need New Arena

Rodriguez and Lore would like to repair team relations with Kevin Garnett.
Alex Sarr
July 9, 2025

Wizards Pushing Limits of Youth With 11 Players on Rookie Deals

Washington’s 2025 first-round pick is top-eight protected.
July 9, 2025

From Dynasty to Disarray: Red Bull Fires Christian Horner

He served as Red Bull team principal for more than two decades.