Michael Jordan cashes in heavily by selling his NBA team. Probably the best basketball player in history will sell his shares in the Charlotte Hornets in the coming days. The 60-year-old should get around three billion dollars for this. The profit from the sale is gigantic.
Michael Jordan will sell his stake in the Charlotte Hornets in the coming days. The US media report unanimously. After that, the deal just needs to be approved by the NBA. However, this process can take a few weeks.
Jordan will officially remain team owner until the NBA draft on June 22, but behind the scenes only the signatures on the sales contract are missing.
Jordan won’t sell all of his stake in the Charlotte Hornets – the 60-year-old will go from majority to minority owner.
The Hornets are one of the worst NBA teams in many years. The last time they were in the playoffs was in 2016. The past seven years were already over for the team after the regular season.
Basketball legend Jordan bought a majority stake in the Hornets franchise for $275 million in 2010. With the sale of his shares, he raked in around three billion dollars 13 years later – which made a gigantic profit of 2.7 billion dollars.