Michael Jordan Sells Majority Stake in Charlotte Hornets
A Majority of the Stake has been Sold to a New Owner
In a breaking news story, Michael Jordan has reportedly sold his majority stake in the Charlotte Hornets, the NBA team he has owned since 2006. According to sources, the sale was finalized for an approximate $3 billion valuation, marking the end of Jordan's 13-year tenure as the team's majority owner.
Jordan's Legacy with the Hornets
During Jordan's tenure as controlling owner, the Hornets went 423-600, with a winning percentage of .413. This record was the fifth-worst in the NBA during that span.
Despite the team's lackluster performance on the court, Jordan's ownership brought significant recognition and investment to the city of Charlotte. He played a key role in securing a new arena for the team, which opened in 2005.
The New Majority Owner
The new majority owner of the Hornets has not yet been revealed. However, it is expected that a formal announcement will be made in the coming days or weeks.
Speculation and Rumors
In the meantime, there is much speculation about who the new owner might be. Some potential candidates include:
- Billionaire businessman Michael Rubin, who previously owned the Philadelphia 76ers
- A group led by former NBA star Steve Nash
- A consortium of investors from outside the United States
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