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#RG @one37pm. After he left the NBA in 2003, Michael Jordan tip-toed into team ownership, buying a minority stake in the Charlotte Bobcats in 2006. After a few years—thanks to the continued success of @jumpman23—Jordan was in position to pursue majority ownership. In 2010, Jordan’s ownership group purchased the Hornets for $275M making him the first former player to have a majority ownership position in an NBA franchise. 🏀
Since that time, team values have *skyrocketed.* According to @forbes, the average NBA team is worth $1.65B. Even though the @hornets—who changed their name from the Bobcats in 2014—do business in one of the NBA’s smallest markets, Jordan’s personal fortune has increased by around $350M, mostly thanks to the rising tide of franchise values across all the major sports.
As some of the NBA’s biggest stars demonstrate financial savvy, MJ will absolutely not be the only former player-turned-owner very soon. So, who’s next?

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Brooke Mitchel

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