Why did Michael Jordan Buy The Charlotte Hornets? Price, Estimated Worth, and More

Michael Jordan is currently one of the most successful athletes turned businessman. He runs a variety of businesses and has a whopping net worth of 2.2 billion USD.

Jordan bought the Charlotte Hornets which was founded in 2004 by Robert Johnson which was initially known as the Charlotte Bobcats. Despite their poor performance, Jordan seems to be having a lot of profit because of the team.

After his second retirement in 1999, Jordan tried purchased a small minority stake in the Hornets but the offer was denied by George Shinn, who was the owner at the time. 

Afterwards, in 2005, he tried his luck again and became the top stakeholder of the team! Then in 2010, he attained majority ownership and got the approval for the same from NBA as well. 

Jordan bought the Hornets for $180 million according to Reuters which gave him 97 percent of the team's equity! 

Unfortunately, the team's performance on the court has been really poor. They recorded the worst season record of 8-59. 

Despite the good profits that Jordan is enjoying, good team performance is something that Jordan must be praying for at the moment.