Michael Jordan made history when he become the first NBA player to have a majority stake in a franchise in the league. He bought the Charlotte Hornets for $275 million in 2010 and it was understandable as to why, given that he grew up in North Carolina. However, prior to him purchasing this team, he had his sights set on the Chicago Bulls who were worth $368 million at the time of his interest. Though, his opinions on Jerry Reinsdorf came in between his hopes of buying the team.
Advertisement
Jordan has famously been grilled for being a subpar front office member both during his time with the Washington Wizards and now as a majority stakeholder with the Hornets. Whether it’s his inability to draft the right players as the President of Basketball Operations or attract superstar talent to the city of Charlotte, MJ’s talents were best served on the hardwood, not in an air-conditioned office.
In between his stint with the Wizards and the Hornets, Michael seemed to have become intrigued with the team that he spent 13 seasons with.
Michael Jordan talked about hoping to own the Chicago Bulls
Michael Jordan had built himself a financial empire by the time 2005 had come around. While his on-court earnings weren’t all too special (he earned $30 million+ in both the 1997 and ’98 seasons), it was his off-the-court endorsements and brand deals that set him apart from the rest.
His biggest source of revenue was his deal with Nike and Jordan Brand where he got a cut from each item sold with his name on it. using this inordinate amount of wealth, he did an interview with Cigar Aficiando in ’05 where he would get asked about whether or not he wanted to buy the Bulls.
“I would love to own the Chicago Bulls because of what the franchise provided to me. It would give me the opportunity to move it further into a successful program,” said ‘His Airness’.
However, the conflicting opinion on this was his respect and admiration for the present owner, Jerry Reinsdorf. “But I do understand that Jerry Reinsdorf is a good owner. He is a very good businessman. He has a family that enjoys the game of basketball. And I totally understand his maintaining his ownership of the Bulls.”
MJ never ended up buying the Bulls which were valued at $368 million in 2005 according to ‘Statista’ and instead pivoted his way to a different franchise. He had a sentimental connection to the Hornets and rightfully so, bought them and has been the owner for the past 13 years.
Michael wants to sell his majority stake in the Hornets
The Charlotte Hornets have been one of the most disappointing franchises in the decade-plus time that he’s been the owner. They have won 3 playoff games since he took over and while they do seem to have a bright future ahead with LaMelo Ball and their 2023 #2 overall pick, MJ seems to have had enough.
It has been reported that he wants to sell his majority stake in the franchise to anybody willing to take over. He still wants to be involved with the team but with a much smaller share and will likely be a minority stakeholder the way Dwyane Wade and Grant Hill are with the Utah Jazz and Atlanta Hawks, respectively.
