Does Michael Jordan Still Own The Hornets

So, you’re sitting there, maybe eating a questionable sandwich, and you wonder: Does Michael Jordan still own the Hornets? It’s a fair question, given that His Airness has been bouncing around the basketball world like a loose dribble. Let’s clear this up right now, because the answer will either make you sigh or fist-pump.

The short, sweet, and slightly shocking truth is: No, Michael Jordan does not own the Charlotte Hornets anymore. He sold his majority stake back in August 2023. I know, I know—it feels like losing a slightly eccentric uncle from the family reunion.

But before you start mourning the end of the Jordan-era tweed jackets and questionable draft picks, let’s rewind. Michael bought into the team way back in 2006, becoming the NBA’s first majority Black owner. It was a huge moment—a legend becoming a boss.

He didn’t just sit in a fancy suit and wave from a luxury box, either. MJ was hands-on, which sometimes meant making decisions that made fans scream into their pillows. Remember drafting Adam Morrison? Yeah, we do too. Oof.

The Big Goodbye: Who Bought the Hornets?

So, who stepped up to the free-throw line after Jordan? A group led by Gabe Plotkin and Rick Schnall. Plotkin is a hedge fund guy (fancy money), and Schnall is a former minority owner of the Atlanta Hawks. They’re basically basketball finance wizards.

Jordan sold his controlling interest for a reported $3 billion. Yes, billion with a B. That’s enough money to buy a lifetime supply of his own sneakers, or perhaps a small island shaped like a basketball. He kept a minority stake, though—like keeping a toe in the pool.

The sale closed in August 2023, and suddenly, the Hornets had new captains at the helm. It was the end of an era, but also the beginning of a very wealthy retirement for MJ. He can now focus on crying over his awful cigar smoke or making funny faces at the All-Star Game.

Why Did MJ Sell? Did He Get Bored?

Why would the most competitive man in sports history walk away? Well, money talks, and $3 billion screams. Michael is smart, and he saw the enormous value in cashing out when the NBA’s popularity was at its peak. Cha-ching!

There were also whispers that Jordan felt frustrated with the team’s direction. The Hornets haven’t exactly been a dynasty—they’ve had more losing seasons than winning ones. Even Michael Jordan’s competitiveness can get tired from watching blown fourth-quarter leads.

Does Jordan Own An Nba Team at Ethan Fuhrman blog

Plus, let’s be real: owning a basketball team is a lot of meetings, spreadsheets, and arguing about luxury tax rules. MJ probably prefers arguing about jump shots with young players in his gym. Some people are just meant to be legends, not accountants.

What Did Jordan Leave Behind?

Despite the losing records, Jordan left some real legacy in Charlotte. He brought the Hornets name back (goodbye, Bobcats—no one misses you), and he pushed for the city to host the All-Star Game in 2019. That was a big deal for a small market.

He also drafted LaMelo Ball in 2020, which was a home run. LaMelo is flashy, fun, and wears crazy sneakers—basically, a mini-Jordan in style, if not in scoring. The team is now young and exciting, which is more than we could say a few years ago.

And let’s not forget the spectacle. Having MJ courtside meant you’d occasionally see him yelling at a referee or shaking his head in disbelief. That’s pure entertainment, folks. You can’t buy that kind of theater.

So, What’s the Hornets’ Future Now?

The new owners, Plotkin and Schnall, seem eager to rebuild the team from the ground up. They’ve hired a new president of basketball operations, Jeff Peterson, and they’re focusing on player development. No more quick fixes or lottery hopes.

The team is still called the Hornets, still teal and purple, and still plays in Charlotte. So if you walk into the Spectrum Center, you won’t see a “Jordan For Sale” sign on the door. But you will see a different vibe—a fresh start.

Michael Jordan explains decision to sell Charlotte Hornets - Basketball

And guess what? Michael is still around as a minority owner, so you might spot him in his trademark sunglasses, munching on popcorn. He’s just not the one signing the big checks anymore. He’s the cool retired uncle who visits on holidays.

A Lighter Side: MJ’s Ownership Memes

Let’s be honest, Jordan’s ownership tenure gave us legendary memes. Who can forget the “Crying Jordan” face after every loss? Or the photo of him looking absolutely devastated while LaMelo Ball hit a game-winner? Pure gold.

He was the boss who felt every loss like a paper cut—but in his bank account. And when the team won, he got to smirk like a cat who ate a canary. Being a fan-owner is exhausting, and MJ finally decided to nap.

So, if you ever hear someone say, “Hey, doesn’t Michael Jordan own the Hornets?” you can now casually reply, “Nope, he cashed out, my friend. He’s too busy counting his billions and smoking cigars.” You’ll sound very smart and in-the-know.

The Uplifting Conclusion

Here’s the beautiful part: Michael Jordan gave the Hornets his best shot, and then he handed the torch to someone else. That’s not a failure; it’s a full-circle moment. He went from being the greatest player to a trailblazing owner, and now to a happy investor.

The Hornets have a new chapter waiting to be written, and who knows? Maybe Plotkin and Schnall will build a championship contender. If they do, Michael will probably show up, wink at the camera, and take all the credit. And you know what? He’d deserve at least a little bit of it.

So, raise your glass of Gatorade (or something stronger) to Michael Jordan—the man, the myth, the former owner. He didn’t get a ring as an owner, but he got a huge pile of cash and our eternal laughter. And that’s a win in anyone’s book. Go Hornets, and go enjoy your retirement, Mike!