Michael Jordan, one of the greatest basketball players of all time and the current owner of the Charlotte Hornets, has decided to sell a majority of his ownership stake in the team. The buyer is expected to be a group led by Gabe Plotkin, an American hedge fund manager, and Atlanta Hawks minority owner Rick Schnall. If the sale is completed, Jordan will retain a minority stake in the franchise.
The net worth of Gabe Plotkin is reportedly $400 million, and owning an NBA team is expected to increase his wealth even more. Although owning a sports team can be costly, the potential for significant returns is possible, as evidenced by recent sales of NBA franchises for much more than their original purchase prices.
For Jordan and the Hornets, the sale could be an opportunity to move forward after years of disappointing results on the basketball court. The team will have a top pick in the 2023 NBA draft, and there is hope that they will finally land a player who can help turn the franchise around. In 2020, they drafted LaMelo Ball, a promising talent, and adding another player of his caliber could make a significant difference.
While Jordan may be selling his majority stake in the Hornets, he will likely remain involved with the team in some capacity. As a former player, Jordan has a deep connection to the sport and the organization, and it seems unlikely that he would completely sever ties.
It is unclear what the future holds for Jordan as a team owner. Although he will have a minority stake in the Hornets, it is possible that he may look to invest in another franchise in the future. As a former player and one of the most well-known figures in the sport, Jordan’s involvement in any NBA organization would likely generate significant interest and attention.
In any case, the sale of Jordan’s stake in the Hornets represents a significant moment for the franchise and the league as a whole. As new ownership takes over, there is hope that the team can finally reach its potential and become a contender on the court.
Struggles of the Charlotte Hornets: Analyzing the Performance of a Team Hindered by Injuries and Inconsistencies
The Charlotte Hornets have been struggling this season, currently ranking fourteenth in the Eastern Conference with a record of 22 wins and 49 losses. The team has faced numerous challenges throughout the season, including injuries to key players and inconsistent performances on both ends of the court.
Offensively, the Hornets have struggled to find a consistent rhythm, ranking in the bottom half of the league in points per game, field goal percentage, and three-point percentage. Defensively, the team has also struggled, allowing opponents to score an average of 113 points per game.
Furthermore, the Hornets have been plagued by injuries to key players such as Gordon Hayward, LaMelo Ball, and Terry Rozier, which has disrupted their rotation and impacted their ability to compete at a high level.
