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Home > The Sale of the Hornets Has Been Approved, Michael Jordan’s 13-year Ownership Has Come to an End

The Sale of the Hornets Has Been Approved, Michael Jordan’s 13-year Ownership Has Come to an End

Publish Date:July 24, 2023
Fact checked by: Chris A

The Sale of the Hornets Has Been Approved, Michael Jordan's 13-year Ownership Has Come to an End

According to Adrian Wojnarowski, the NBA’s Board of Governors has approved the sale of the Charlotte Hornets to a group led by Rick Schnall and Gabe Plotkin for around $3 billion. This means that Michael Jordan’s 13-year ownership of the team will soon come to an end. The sale received a vote of 29-1, with only James Dolan, owner of the New York Knicks, opposing it.

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In 2010, Jordan acquired the franchise when it was still known as the Charlotte Bobcats for $275 million. He was the only Black majority owner in the league and also the greatest former player to own a team. Even after the sale is finalized, Jordan will still hold a minority ownership position.

Two individuals, Schnall and Plotkin, have been appointed as the new governors of a sports team. Schnall had previously been a minority owner of the Atlanta Hawks, while Plotkin became a minority owner of the Hornets in 2019. The group of governors also includes two recording artists, J. Cole, and Eric Church, who are based in Charlotte.

Jordan’s leadership of the team for 13 seasons was largely disappointing. The team’s record during that time was 423-600, with only three playoff appearances and no series wins. In the 2011-12 season, which was shortened due to a lockout, the team (then known as the Bobcats) had the worst record in NBA history with only 7 wins out of 59 games played, setting records for the fewest wins and lowest winning percentage. One notable achievement was the reclaiming of the Hornets’ name and original franchise records and history.

During the previous season, the Hornets had a record of 27-55, which ranked them fourth from the bottom of the league. In the 2023 NBA Draft, they acquired the No. 2 overall pick and chose Brandon Miller from Alabama. Although some people thought Scoot Henderson was a better choice, the Hornets now have an intriguing young tandem in Miller and LaMelo Ball to build on for the future.

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