End Of An Era: Michael Jordan Officially Sells The Charlotte Hornets For $3 Billion After Purchasing Them For A Measly $275 Million Back In 2010
Source - Michael Jordan's $3 billion sale of the Charlotte Hornets to a group led by Rick Schnall and Gabe Plotkin has been approved by the NBA's board of governors, a source with knowledge of the deal confirmed to DailyMail.com.
The sale is expected to be finalized in the next several weeks, and Jordan will keep a minority stake in the club.
Jordan bought the majority stake in his home state's NBA team for $275 million in 2010. The Hornets are currently valued by Forbes at $1.7 billion - 27th among NBA teams, and a $1.3 billion improvement over the last decade.
Mama there goes that man! I mean that has to be a good day, right? It's not like Michael needs the money, but just the fact that he did it. He somehow increased the value of a team 11x while barely improving their record. They made the playoffs twice during his tenure and both times were a fluke. They never even got out of the first round....yet here he is...
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Laughing all the way to the bank. He has literally never made a bad business decision in his life. He's also, for better of worse, a peacemaker. Here he is breaking up a fight between Wack 100 and Charleston White last night...
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but that's neither here nor there. It's the end of an era. Congrats to MJ on yet another win. Now here are a bunch of highlights of every time MJ got pissed as GM. Enjoy...
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