How Much of the Charlotte Hornets Does Michael Jordan Own? – Sportsmanor

Michael Jordan is still known currently as the owner of the Charlotte Hornets. The widely acknowledged NBA GOAT managed to accumulate enough finances to buy an entire franchise back in 2010. This was possible due to his on-court earnings, endorsements, and shoe brand.

Now that more than a decade has passed, people are interested in knowing how well the franchise is doing. Additionally, understanding how much of the franchise Jordan still owns and its current value will also help make things clearer to the public.

Michael Jordan bought the Charlotte Hornets for $275 million

The Hornets were formerly known as the Bobcats and only came into existence in 2004. Therefore, they were a relatively cheaper franchise that Jordan was able to purchase. This one decision is the reason Jordan was able to eventually become a billionaire.

NBA fans are used to treating franchises simply as the home for a team. However, it is also a buisnesscompany that ownership can be valued and divided. Jordan bought the entire Hornets for $275 million. Later, he sold 20% to New York-based investors.

That would leave the Chicago Bulls legend with 80% of the Charlotte Hornets. However, he recently bought back a percentage of the ownership in order to become a billionaire. He increased it from 80% to 89.5%, giving Jordan a greater sense of control and a chunk of his franchise value.

While there is no denying that the Hornets are a struggling team, the value of the franchise has still increased and is currently estimated at over $1.5 billion. Hence, owning 89.5% of it gives MJ a huge chunk of that. Adding to this his Jordan Shoe brand and other smart investments over the years, Jordan currently has a net worth of over $1.7 billion.

$1.7 billion might not seem a lot more than the $1.1 billion LeBron James has accumulated in his career. However, that does not change the fact that Michael Jordan is the richest athlete in this world. Fans have claimed that he is worth Cristiano Ronaldo and Lionel Messi combined. The numbers certainly back up these claims Only Tiger Woods and LeBron James are the other sportspersons who were able to become billionaires.