Michael Jordan Considers Selling Majority Stake in Charlotte Hornets: What Could This Mean for the Franchise's Future?

Michael Jordan in "Serious Talks" to Sell Majority Stake in Charlotte Hornets

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According to Adrian Wojnarowski of ESPN, Charlotte Hornets owner Michael Jordan is in "serious talks" to sell his majority stake in the franchise. While nothing has been finalized yet, Jordan is reportedly considering a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall to sell his stake to.

ESPN Sources: Charlotte Hornets owner Michael Jordan is engaged in serious talks to sell a majority stake in the franchise to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall. pic.twitter.com/jg03W25s49

— Adrian Wojnarowski (@wojespn) March 16, 2023

If the sale does go through, Jordan will still remain a minority owner of the team. Jordan became the majority owner of the Charlotte Bobcats in 2010 after buying the team for $275 million from former majority team owner Bob Johnson. Prior to that, Jordan was already a minority investor in the franchise since 2006.

Struggles on the Court

Despite Jordan's six-time NBA championship wins and being a Hall of Fame basketball player, the Hornets have struggled to find consistent success on the court during his tenure as team owner. In fact, the team has only appeared in the postseason twice in the 13 years that Jordan has maintained majority ownership of the franchise, with the last time being in 2016.

Coaching Changes and Player Turnovers

The Hornets have gone through five different head coaches and have moved on from franchise cornerstone players like Kemba Walker during Jordan's ownership. Additionally, the team has missed on several draft prospects, leading to more instability and difficulty building a competitive team.

Nonetheless, the introduction of LaMelo Ball in 2020 has provided a spark of optimism in recent years. Ball has already won Rookie of the Year and been selected an All-Star in his first two seasons. Injuries have slowed his growth, including a shattered right ankle that terminated his season in February.

While it is unclear whether Michael Jordan would sell his primary investment in the Charlotte Hornets, it is apparent that the team has struggled under his ownership. It's proven challenging to put together a competitive team with several coaching changes and player turnovers.