{"id":13455,"date":"2023-08-04T09:52:26","date_gmt":"2023-08-04T09:52:26","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=13455"},"modified":"2023-08-04T09:52:47","modified_gmt":"2023-08-04T09:52:47","slug":"michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\/","title":{"rendered":"Michael Jordan Sells Majority Stake In Hornets For Approximately $3bn"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2019\/09\/michael-jordan-charlotte-hornets.jpg\" alt=\"Michael Jordan, Charlotte Hornets\" width=\"300\" title=\"Michael Jordan Sells Majority Stake In Charlotte Hornets For Approximately $3bn\" class=\"alignright size-full wp-image-9938\" \/><strong>Summary:<\/strong><\/p>\n<ul>\n<li>Michael Jordan has sold his majority share in the Charlotte Hornets<\/li>\n<li>Hornets sale approved by NBA Board of Governors <\/li>\n<li>Group led by Gabe Plotkin and Rick Schnall are the new owners of the Hornets<\/li>\n<\/ul>\n<p>NBA great and legend <strong>Michael Jordan<\/strong> who had a majority stake in the <strong>Charlotte Hornets<\/strong> and led the team for the last 13 years, has sold his majority stake to a group led by <a href=\"https:\/\/www.legitgambling.com\/news\/michael-jordan-makes-over-a-billion-dollars-from-charlotte-hornets-shares-sale\/\"><strong>Gabe Plotkin<\/strong> and <strong>Rick Schnall<\/strong> who purchased minority shares from Jordan in 2019<\/a>. <\/p>\n<p>The sale was approved by the NBA Board of Governors and is estimated to be around $3 billion.<\/p>\n<h2>Jordan Lost Yet Won With The Charlotte Hornets<\/h2>\n<p>Michael Jordan purchased a majority stake in the Hornets back in 2010 when the NBA franchise was struggling. That\u2019s one of the main reasons why he <strong>paid just $275 million to get a majority stake<\/strong> in the team which he then led for the last 13 years.<\/p>\n<p>The Hornets in some ways benefitted from having a huge name like Michael Jordan associated with the brand. However, the Hornets did not have the results they would have liked on the court, much to the disappointment of their fans. Some of the Hornets fans felt in the past that Jordan was one of the reasons why the team was struggling.<\/p>\n<p>Jordan preferred to bring in a lot of family, business partners and friends to be a part of the Hornets and that caused many fans to accuse the <a href=\"https:\/\/www.legitgambling.com\/sports-betting\/basketball\">NBA<\/a> great of nepotism. His old NBA foe <strong>Charles Barkley<\/strong> also criticized what Jordan was doing to the Hornets. <\/p>\n<p>While Jordan did not have a lot of success with the Hornets, he ended up on the winning side with the potential $3 billion sale, <strong>overall he would have made over $4.5 billion from sales of shares<\/strong>. Jordan has also decided to retain a minority stake with the Hornets and as an Alternate Governor.<\/p>\n<h2>Plotkin and Schnall Will Look To Take Hornets To Next Level<\/h2>\n<p>Plotkin and Schnall thanked Jordan for the opportunity to become new owners of the <a href=\"https:\/\/www.nba.com\/hornets\">Charlotte Hornets<\/a> and said they have plans to take the team to the next level!<\/p>\n<p>In a statement, Plotkin and Schnall said <\/p>\n<blockquote><p>We will look to build a highly competitive basketball team, develop innovative business practices, give back to our community and connect with our fans. We plan to further invest in the team, the facilities and the fan experience, with the goal of delivering a winner to our fans throughout the Carolinas. <\/p>\n<p>We are confident that our successful business backgrounds and our previous experience as NBA minority owners will be beneficial as we shape the future of the franchise as a best-in-class organization<\/p><\/blockquote>\n<div style=\"position:relative;height:0;padding-bottom:56.25%\">\n<iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/9J12HJTjQcw?rel=0&amp;showinfo=0?ecver=2\" width=\"640\" height=\"360\" frameborder=\"0\" style=\"position:absolute;width:100%;height:100%;left:0\" allowfullscreen><\/iframe>\n<\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary: Michael Jordan has sold his majority share in the Charlotte Hornets Hornets sale approved by NBA Board of Governors Group led by Gabe Plotkin and Rick Schnall are the new owners of the Hornets NBA great and legend Michael Jordan who had a majority stake in the Charlotte Hornets and led the team for [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,1],"tags":[],"class_list":["post-13455","post","type-post","status-publish","format-standard","hentry","category-sports","category-usa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Michael Jordan Sells Majority Stake In Hornets For Approximately $3bn<\/title>\n<meta name=\"description\" content=\"NBA great and legend Michael Jordan who had a majority stake in the Charlotte Hornets and led the team for the last 13 years, has sold his majority stake\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Michael Jordan Sells Majority Stake In Hornets For Approximately $3bn\" \/>\n<meta property=\"og:description\" content=\"NBA great and legend Michael Jordan who had a majority stake in the Charlotte Hornets and led the team for the last 13 years, has sold his majority stake\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legitgambling.com\/news\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-04T09:52:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-04T09:52:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2019\/09\/michael-jordan-charlotte-hornets.jpg\" \/>\n<meta name=\"author\" content=\"Landon Wheeler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Landon Wheeler\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\\\/\"},\"author\":{\"name\":\"Landon Wheeler\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/7735831f7fb7440b065c8376a41cf88d\"},\"headline\":\"Michael Jordan Sells Majority Stake In Hornets For Approximately $3bn\",\"datePublished\":\"2023-08-04T09:52:26+00:00\",\"dateModified\":\"2023-08-04T09:52:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\\\/\"},\"wordCount\":450,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/09\\\/michael-jordan-charlotte-hornets.jpg\",\"articleSection\":[\"Sports\",\"USA\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\\\/\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\\\/\",\"name\":\"Michael Jordan Sells Majority Stake In Hornets For Approximately $3bn\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/09\\\/michael-jordan-charlotte-hornets.jpg\",\"datePublished\":\"2023-08-04T09:52:26+00:00\",\"dateModified\":\"2023-08-04T09:52:47+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/7735831f7fb7440b065c8376a41cf88d\"},\"description\":\"NBA great and legend Michael Jordan who had a majority stake in the Charlotte Hornets and led the team for the last 13 years, has sold his majority stake\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/09\\\/michael-jordan-charlotte-hornets.jpg\",\"contentUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/09\\\/michael-jordan-charlotte-hornets.jpg\",\"width\":380,\"height\":250,\"caption\":\"Michael Jordan, Charlotte Hornets\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/\",\"name\":\"\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/7735831f7fb7440b065c8376a41cf88d\",\"name\":\"Landon Wheeler\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/46a3d81b7d342ca0efc5534703b4ff788fb760adae2a0a1be536a2b1a075d464?s=96&d=monsterid&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/46a3d81b7d342ca0efc5534703b4ff788fb760adae2a0a1be536a2b1a075d464?s=96&d=monsterid&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/46a3d81b7d342ca0efc5534703b4ff788fb760adae2a0a1be536a2b1a075d464?s=96&d=monsterid&r=g\",\"caption\":\"Landon Wheeler\"},\"description\":\"All things casino related are what interests Landon, and having been involved in that industry for the last thirty years and having actually worked in several different roles in the casino industry he is definitely very well placed to keep you in the know in regards to what is happening in the casino industry as a whole.\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/author\\\/landon-wheeler\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Michael Jordan Sells Majority Stake In Hornets For Approximately $3bn","description":"NBA great and legend Michael Jordan who had a majority stake in the Charlotte Hornets and led the team for the last 13 years, has sold his majority stake","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.legitgambling.com\/news\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\/","og_locale":"en_US","og_type":"article","og_title":"Michael Jordan Sells Majority Stake In Hornets For Approximately $3bn","og_description":"NBA great and legend Michael Jordan who had a majority stake in the Charlotte Hornets and led the team for the last 13 years, has sold his majority stake","og_url":"https:\/\/www.legitgambling.com\/news\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\/","article_published_time":"2023-08-04T09:52:26+00:00","article_modified_time":"2023-08-04T09:52:47+00:00","og_image":[{"url":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2019\/09\/michael-jordan-charlotte-hornets.jpg","type":"","width":"","height":""}],"author":"Landon Wheeler","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Landon Wheeler","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.legitgambling.com\/news\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\/#article","isPartOf":{"@id":"https:\/\/www.legitgambling.com\/news\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\/"},"author":{"name":"Landon Wheeler","@id":"https:\/\/www.legitgambling.com\/news\/#\/schema\/person\/7735831f7fb7440b065c8376a41cf88d"},"headline":"Michael Jordan Sells Majority Stake In Hornets For Approximately $3bn","datePublished":"2023-08-04T09:52:26+00:00","dateModified":"2023-08-04T09:52:47+00:00","mainEntityOfPage":{"@id":"https:\/\/www.legitgambling.com\/news\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\/"},"wordCount":450,"commentCount":0,"image":{"@id":"https:\/\/www.legitgambling.com\/news\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\/#primaryimage"},"thumbnailUrl":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2019\/09\/michael-jordan-charlotte-hornets.jpg","articleSection":["Sports","USA"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.legitgambling.com\/news\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.legitgambling.com\/news\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\/","url":"https:\/\/www.legitgambling.com\/news\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\/","name":"Michael Jordan Sells Majority Stake In Hornets For Approximately $3bn","isPartOf":{"@id":"https:\/\/www.legitgambling.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.legitgambling.com\/news\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\/#primaryimage"},"image":{"@id":"https:\/\/www.legitgambling.com\/news\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\/#primaryimage"},"thumbnailUrl":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2019\/09\/michael-jordan-charlotte-hornets.jpg","datePublished":"2023-08-04T09:52:26+00:00","dateModified":"2023-08-04T09:52:47+00:00","author":{"@id":"https:\/\/www.legitgambling.com\/news\/#\/schema\/person\/7735831f7fb7440b065c8376a41cf88d"},"description":"NBA great and legend Michael Jordan who had a majority stake in the Charlotte Hornets and led the team for the last 13 years, has sold his majority stake","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.legitgambling.com\/news\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.legitgambling.com\/news\/michael-jordan-sells-majority-stake-in-charlotte-hornets-for-approximately-3-billion\/#primaryimage","url":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2019\/09\/michael-jordan-charlotte-hornets.jpg","contentUrl":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2019\/09\/michael-jordan-charlotte-hornets.jpg","width":380,"height":250,"caption":"Michael Jordan, Charlotte Hornets"},{"@type":"WebSite","@id":"https:\/\/www.legitgambling.com\/news\/#website","url":"https:\/\/www.legitgambling.com\/news\/","name":"","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.legitgambling.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.legitgambling.com\/news\/#\/schema\/person\/7735831f7fb7440b065c8376a41cf88d","name":"Landon Wheeler","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/46a3d81b7d342ca0efc5534703b4ff788fb760adae2a0a1be536a2b1a075d464?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/46a3d81b7d342ca0efc5534703b4ff788fb760adae2a0a1be536a2b1a075d464?s=96&d=monsterid&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/46a3d81b7d342ca0efc5534703b4ff788fb760adae2a0a1be536a2b1a075d464?s=96&d=monsterid&r=g","caption":"Landon Wheeler"},"description":"All things casino related are what interests Landon, and having been involved in that industry for the last thirty years and having actually worked in several different roles in the casino industry he is definitely very well placed to keep you in the know in regards to what is happening in the casino industry as a whole.","url":"https:\/\/www.legitgambling.com\/news\/author\/landon-wheeler\/"}]}},"_links":{"self":[{"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/posts\/13455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/comments?post=13455"}],"version-history":[{"count":0,"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/posts\/13455\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/media?parent=13455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/categories?post=13455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/tags?post=13455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}