Michael Jordan’s Hornets deal worth $1.7 billion

Michael Jordan has always had a great sense for business, since he signed with Nike (on April 5th, “AIR – The Great Leap” will be released) and from there built the Air Jordan empire. And even with the Hornets, despite everything, he seems to have made a great deal.

The Charlotte franchise under his guidance has achieved very few sporting results: three first-round playoff eliminations in seventeen years (before becoming majority owner in 2010, Michael was actually named GM in 2006). Nevertheless, the value of the company has grown enormously, from the approximately $275 million paid by MJ for 97% of the shares, to the approximately $1.7 billion it could be sold for today.

In reality, Jordan had already sold a portion of his shares in 2019 to Gabe Plotkin and Daniel Sundheim, but still maintained the majority. Now it seems that he is in negotiations, again with his minority partners, to sell additional shares in his possession and leave control of the company. Whatever the negotiated amount, however, it will be well above the initial investment.