Currently, Michael Jordan is still recognised as the Charlotte Hornets owner, know about his ownership percentage of the NBA team
Back in 2010, the highly regarded NBA GOAT was able to amass sufficient funds to purchase an entire franchise. His on-court earnings, endorsements, and shoe company made this feasible.
Since more than ten years have gone by, many are still curious about how the franchise is faring. The public will also benefit from knowing how much of the franchise Jordan still owns and what its market value is.
What Is Michael Jordan Charlotte Hornets Ownership Percentage, Structure And His Net Worth
For $275 million, Michael Jordan purchased the Charlotte Hornets.
The Bobcats were the previous name of the Hornets, who only started playing in 2004. Jordan was able to purchase them as a result because they were a significantly less expensive franchise. Jordan was able to finally amass a fortune because of this one choice.
NBA supporters are habituated to viewing franchises as nothing more than a team’s home. On the other hand, it is also a business entity whose ownership may be assessed and divided. For $275 million, Jordan acquired the whole Hornets team. Later, he sold 20% to investors in New York. The Chicago Bulls legend would then own 80% of the Charlotte Hornets. To become a millionaire, he recently purchased a portion of the ownership back. By raising it from 80% to 89.5%, he gave Jordan more ownership and a portion of the franchise’s value.
The Hornets are a failing team, there is no doubt about that, yet the franchise value has grown and is now thought to be over $1.5 billion. Owning 89.5% of it then provides MJ with a substantial portion of that. Jordan’s net worth has increased to over $2.2 billion as a result of his successful Jordan Shoe brand and other wise investments throughout the years.
Compared to LeBron James’ career earnings of $1.1 billion, $2.2 billion may not seem like much more. Michael Jordan continues to hold the title of the richest athlete in the world, despite this. He has been compared to Lionel Messi and Cristiano Ronaldo by fans. These claims are undoubtedly supported by the data. The only other athletes who were able to achieve billionaire status are Tiger Woods and LeBron James.
MJ’s net worth stands at $2.2 billion.