NBA legend Michael Jordan bought the Charlotte Hornets back in 2010. However, after a decade of little success, rumors about Jordan looking to sell the team have been afoot. His long-time friend and former teammate John Salley claimed that Jordan is looking to sell the Hornets soon. Jordan owns a 70% stake in the Charlotte Hornets which are valued at around $1.7 Billion. And he wants $1.2 billion in cash.
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The $1.2 billion figure, happens to be the profits. Salley claimed that the Hornets had had little success under him, something that was true even before that. However, they need fresh ideas, and Jordan at the age of 60 simply does not have the time nor the patience to lead the organization.
John Salley claims Michael Jordan will sell the Charlotte Hornets
The Charlotte Hornets are one of the least successful teams in NBA history. They have never been to the NBA Finals, and the closest they came this century was in the form of an appearance in the 2000-2001 Eastern Conference Semifinals.
Keeping that in mind, Michael Jordan was expected to bring in fresh ideas and change the atmosphere. John Salley claimed that now at the age of 60, it simply does not make sense for Michael Jordan to be stressing about the Hornets. Salley claimed that Jordan wants to stay in Florida, and will be looking to sell the team:
“I think Jordan’s going to sell a team. I think it doesn’t help him anymore and I think getting new blood and new ideas in there and he’s 62 years old 61 years old there’s no reason to keep stressing and having to go to North Carolina when you know you want to stay in Jupiter Florida.”
Michael Jordan’s ownership of the Charlotte Hornets is expected to come to an end
Michael Jordan might be one of the best players to have ever graced the NBA. However, his time as an owner has hardly seen any success.
Jordan bought the franchise in 2010 and there has not been any real improvement in their NBA title chances since then. The Charlotte Hornets last made the Playoffs back in the 2015-16 season, when they were beaten in the first round by the Miami Heat.
Keeping the overall success of the organization in mind, there are bound to be questions over Jordan’s time as the owner. His friendship with Charles Barkley is also reportedly said to have soured during his tenure. Barkley made comments about Jordan’s time as a Hornets owner and questioned his decision-making.
Barkley had claimed that while Jordan was a great friend, he had not done a great job as an NBA franchise owner. There seems to be quite a bit of truth in that claim. With this purported exit looming, MJ will hope to cash out his earnings. And perhaps invest in a more valuable sports franchise.
