Does Michael Jordan Still Own The Charlotte Hornets

So, you’re sitting on the couch, scrolling through your phone, and you see a highlight of a young guy in a teal jersey hitting a buzzer-beater. You pause. And then that little voice in your head asks, “Wait, does Michael Jordan still own this team, or did he finally sell it like that old lawnmower I’ve been meaning to get rid of?” It’s a fair question, because the Hornets and MJ have been tangled up like earbuds in your pocket for over a decade. Let’s untangle that knot.

The short answer is no, Michael Jordan no longer owns the Charlotte Hornets. He sold his majority stake back in August 2023. But if you’re like most fans, you heard that news, nodded, and then promptly forgot. It’s like when your neighbor tells you he’s selling his classic Camaro—you remember the drama, but you’re not sure who’s driving it now.

The Big Goodbye

After 13 years as the majority owner, Jordan handed over the keys to a group led by Gabe Plotkin and Rick Schnall. Think of it like passing the remote control to your buddy after you’ve been hogging it for hours. Plotkin is a hedge fund guy with deep pockets, and Schnall is a former minority owner of the Atlanta Hawks. They’re not exactly household names like “His Airness,” but they’re the new bosses.

The sale was for a reported $3 billion, which is roughly the GDP of a small country—or the amount of money it would take to convince me to give up my prime parking spot. Jordan still holds a small minority stake, so he’s not completely gone. It’s like when your dad says he’s moving out of the house but keeps a key “just in case.” You know he’s still going to show up on Thanksgiving and critique the turkey.

Why Did He Sell? (A Tale of Two Eras)

Let’s be real: owning an NBA team is like owning a very expensive, very tall Great Dane. It’s glorious when it wins, but it chews up your furniture and never seems to stop slobbering. The Hornets have been the textbook definition of “meh” for most of Jordan’s tenure. They made the playoffs three times in 13 years and never won a single series. That’s like ordering a pizza and only getting the cardboard box.

Did Michael Jordan Own A Basketball Team

But Jordan wasn’t just a bad owner; he was an emotionally invested owner. He famously had final say on draft picks, which is why the team ended up with guys like Adam Morrison (remember that mustache?) and Michael Kidd-Gilchrist (great energy, couldn’t shoot). It was like letting your grandpa pick the music at a party—noble intentions, but awkward results.

So, selling made sense. Jordan is 61. He’s already a billionaire with six rings. Why keep grinding your gears over a team that’s stuck in neutral? He said he wanted to focus on his family and other businesses. Translation: “I’m tired of yelling at my TV during the draft lottery.”

Did Michael Jordan Own A Basketball Team

So, What’s the Team Like Now?

The new owners haven’t turned the Hornets into a powerhouse overnight. They’re still a young, frisky team with a star in LaMelo Ball and a lot of question marks. It’s like when you buy a used car that “just needs a little TLC.” You hope it works, but you’re also ready to call a tow truck.

But here’s the funny part: Jordan’s ghost still haunts the arena. He’s no longer in the owner’s box, but every time a player misses a jumper, you can almost hear him muttering, “I’d have hit that shot.” The trophy case at the Spectrum Center still has his photo up, like a former prom king who refuses to leave the gym.

Michael Jordan selling majority ownership stake in Charlotte Hornets

The Everyday Lesson

This whole saga is a perfect metaphor for everyday life. Think of that one project at work you started with so much enthusiasm, but then it got boring and stressful, and you handed it off to a younger colleague. Or maybe it’s that old hobby—like woodworking—that you bought all the tools for, only to realize you’d rather watch TV. Michael Jordan owns the Hornets in the same way you still own that dusty treadmill in your garage: technically, no, but emotionally, you’re still paying for it.

The truth is, NBA ownership is a rich-person’s hobby that requires patience Jordan simply didn’t have. He’s a winner. The Hornets were a participation trophy. So he sold. And now, when you see a Hornets game on TV, you don’t have to wonder if MJ is pulling his hair out in the back. He’s probably golfing. And honestly? Good for him.

So next time someone asks, “Does Michael Jordan still own the Charlotte Hornets?” you can smile and say, “Nope. He’s moved on. Kind of like how I moved on from my high school band’s demo tape.” The team is in new hands, and Jordan is counting his billions. It’s a win-win, even if the Hornets still haven’t won a playoff series. Some things just stick around longer than the owners do.