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.

Little has stood in the way of Fanatics’ meteoric business expansion over the past five years — but now, the sports industry colossus faces a very public and potentially costly obstacle from DraftKings.

On Friday, the Massachusetts-based DraftKings submitted a surprise $195 million, all-cash, and unsolicited bid for PointsBet’s U.S. operations, seeking to supplant the $150 million deal Fanatics made for that company a month ago.

The offer represents a rare speed bump for Fanatics, which has mushroomed beyond its sports merchandising origins into trading cards, international sales, collectibles auctions, content, and sports betting — all while building its company value to a stratospheric $31 billion. Only a broader decline in NFTs has forced a significant market retreat.

Company chief executive Michael Rubin didn’t mince words, calling DraftKings’ offer “a desperate move to slow down Fanatics and PointsBet from completing a deal,” adding on CNBC, “I guess they are more concerned about us than I would have thought.”

Rubin and Fanatics seem to have support from PointsBet, as that company said in a note to investors that the DraftKings offer will be considered, but that for now, “subject to the outcome of the review being undertaken of the DraftKings proposal, the board continues to recommend that shareholders vote in favor of the [Fanatics] transaction” at a meeting set for June 30.

Several financial analysts cheered the DraftKings move and predicted a full-out bidding war, which suggests the PointsBet battle is just getting started.

Major League Baseball’s attendance resurgence is on track to hold for the entire 2023 season.

Following this week’s owners meetings in New York, commissioner Rob Manfred said that after the league jumped out to a strong start at the gate, internal projections point to a full-season attendance lift of 6% to 8%.

That increase would meaningfully reverse a 2022 total of 64.56 million — MLB’s lowest unrestricted figure since 1997, the league’s final season at 28 teams before adding the Tampa Bay and Arizona franchises.

Continuing to fuel the increase is strong fan reception to MLB’s new pitch clock, larger bases, and a ban on extreme defensive shifts — all of which generated an immediate, significant, and sustained reduction in average game times. Twenty-two of MLB’s 30 clubs are currently up in attendance.

“This is a nice number for us,” Manfred said.

Oakland Snark

The commissioner’s good feeling, however, didn’t extend to the Oakland A’s, who are now closer than ever to moving to Las Vegas. 

Asked about the “reverse boycott” organized by Oakland fans this week — drawing an A’s season-high announced crowd of 27,759 — Manfred’s response dripped with sarcasm.

“I mean, it was great. It is great to see what is this year almost an average Major League Baseball crowd in the facility for one night,” Manfred said. “That’s a great thing.”

The A’s rank last in the league with an per-game attendance average of 9,021, less than a third of the league average of 27,245.