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Which NBA Team Does Michael Jordan Own? All You Need to Know
Which NBA team did Michael Jordan call his own? Find out!
Michael Jordan actually no longer owns a majority stake in any NBA team. He used to be the majority owner of the Charlotte Hornets (formerly called the Charlotte Bobcats).
In 2006, he became part-owner and head of basketball operations for the Charlotte Bobcats (the Hornets' name at the time). In 2010, his belief in the franchise grew. He purchased a controlling interest, making him the Charlotte Hornets' majority owner and the NBA's only Black majority team owner at that time.
During his ownership, Jordan implemented strategies to develop the Hornets' brand and build a winning team. This included drafting LaMelo Ball, a talented young player, and overseeing a period of increased franchise value.
Michael Jordan Sold the Charlotte Hornets
In August 2023, after 13 years as majority owner, Jordan decided to sell the Charlotte Hornets. The franchise was purchased by a group led by Gabe Plotkin, chief investment officer at Tallwoods Capital LLC, and Rick Schnall, co-president of private equity firm Clayton, Dubilier & Rice.
The amount was more than the $275 million Jordan paid in 2010. This translates to a profit of around $2.25 billion for Jordan. While Jordan stepped down from majority ownership, he retained a minority stake and expressed continued interest in the Hornets' success.
Charlotte Hornets' Performance Under Michael Jordan's Ownership
Michael Jordan took over a team that had just won 44 games but went 34-48 in his first year and a dismal 7-59 the next. The Hornets made the playoffs twice under Jordan, in 2014 and 2016, but lost in the first round both times. The 2015-16 season was their most successful, winning 48 games.
The Hornets haven't made the playoffs since 2016 and have only had one winning season. Critics pointed to Jordan's reluctance to spend big in free agency to attract top talent. Some signings like Nicolas Batum's large contract limited their financial flexibility.
Charlotte Hornets’ Performance in the 2023-2024 NBA Season
The Charlotte Hornets did not make the playoffs for the 2024 NBA season. The regular season concluded on April 14. This season saw promising performances from young players like LaMelo Ball and Brandon Miller, suggesting the team is building for future success.
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