8 October 2023
Michael Jordan and the Charlotte Hornets: A Journey of Ownership
Michael Jordan, often hailed as the greatest basketball player of all time, has had a significant impact on the NBA, not just as a player but also as an owner. His journey with the Charlotte Hornets is a testament to his passion for the game and his desire to contribute to the sport in multiple capacities.
- Michael Jordan’s Ownership Timeline: From buying a minority stake in the then-Charlotte Bobcats to selling his majority share in the Charlotte Hornets.
- Achievements and Challenges: While Jordan’s tenure saw some challenging seasons, there were also moments of hope and potential.
- Future of the Hornets: With new owners Gabe Plotkin and Rick Schnall, the Hornets are poised for a new direction.
Table of Contents
The Beginning of an Era
Almost 17 years ago, Michael Jordan began his journey with the Hornets by purchasing a minority stake in the then-Charlotte Bobcats. As part of this deal, he took on the role of “Managing Member of Basketball Operations.” This move was significant as it marked the entry of one of the NBA’s most iconic players into the realm of team ownership.
Transition to Majority Ownership
On February 17, 2010, Jordan and his ownership group took a bold step by buying a majority share in the Bobcats. This move made him the league’s only Black owner, a title he held proudly. However, the journey wasn’t always smooth. The 2011-12 season saw the Bobcats post the worst winning percentage in NBA history, a challenging period for the team and its owner.
In the subsequent years, there were changes in the team’s ownership structure. In the 2019 offseason, Jordan sold a minority share of the team to Gabe Plotkin and Daniel Sundheim. And as of 2023, Jordan has agreed to sell his majority share of the now Charlotte Hornets to the same duo.
Challenges and Achievements
Jordan’s tenure as the owner of the Hornets was marked by both challenges and achievements. The team’s record stood at 423-600 during his ownership, and they made the playoffs only twice, losing in the first round on both occasions.
However, it’s essential to note that ownership and playing are two different ball games. While Jordan’s prowess on the court is undeniable, owning a team comes with its own set of challenges, from management decisions to team dynamics.
A New Direction
With the sale of his majority stake, the Hornets are now under the leadership of Gabe Plotkin and Rick Schnall. Both have expressed their commitment to rebuilding the franchise and have shared their vision for the team’s future. They emphasize analytics, player development, strategy, and sports performance as key areas of focus.
Jordan’s Legacy and the Future
Despite the challenges, Jordan’s love for the game and the Hornets remains strong. In a news release, he mentioned that it was a “tremendous honor” to own the Hornets and expressed excitement about the team’s future. He will continue to support the organization in his new role as a minority owner.
The new owners, Plotkin and Schnall, have expressed their respect for Jordan and are keen on building on the foundation he has set. With a focus on creating a winning culture and attracting top talent, the future looks promising for the Charlotte Hornets.
For more insights and detailed timelines of Michael Jordan’s ownership of the Charlotte Hornets, you can explore the following resources:
- Here’s a timeline of Michael Jordan’s ownership of the Charlotte Hornets
- Charlotte Hornets – Wikipedia
- Michael Jordan Becomes Majority Owner of Charlotte Bobcats – Bleacher Report
The Sale of Majority Ownership
In a significant development, the majority stake of the Charlotte Hornets, previously held by six-time NBA champion Michael Jordan, was sold to Gabe Plotkin and Rick Schnall. This marked the end of an era, with Jordan having owned the Hornets for the past 13 years. Despite the sale, Jordan’s association with the team continues as he remains a minority owner.
Jordan’s Reflections on Ownership
Jordan expressed immense pride in the achievements of the Hornets organization during his tenure. From exhilarating on-court moments to the return of the Hornets’ name and Charlotte hosting the 2019 NBA All-Star Game, the journey was filled with memorable milestones. Jordan’s commitment to the Hornets and the Charlotte community has been unwavering, and he looks forward to supporting the organization in his new role.
The Hornets Under Jordan’s Ownership
While the Hornets faced challenges, including not winning a playoff series under Jordan’s ownership and experiencing a seven-season postseason drought, there were also moments of hope. Jordan’s ownership brought stability to the Hornets franchise, achieved many business milestones, and reconnected with the Charlotte community.
New Owners, New Vision
The new owners, Plotkin and Schnall, have a clear vision for the Hornets. They aim to elevate the team to the “next level,” both on and off the court. Their focus is on building a competitive basketball team, developing innovative business practices, and giving back to the community. They also plan to invest further in the team, facilities, and fan experience.
For those interested in delving deeper into the intricacies of Michael Jordan’s ownership of the Charlotte Hornets and the future of the team, here are some valuable resources:
- Detailed Timeline of Michael Jordan’s Ownership
- Jordan’s Billionaire Status After Increasing Stake in Hornets
Frequently Asked Questions (FAQs)
1. Why did Michael Jordan sell his majority stake in the Hornets?
While Jordan expressed that it was a “tremendous honor” to own the Hornets, he did not provide a specific reason for selling the franchise. However, he remains a minority owner and continues to support the team.
2. Who are the new majority owners of the Hornets?
Gabe Plotkin and Rick Schnall are the new majority owners of the Charlotte Hornets. Both have a background in business and have previously been involved with the NBA as minority owners.
3. What are the future plans for the Charlotte Hornets?
The new owners aim to take the Hornets to the next level, focusing on building a competitive basketball team, enhancing the fan experience, and investing in the team and its facilities.