Timeline Photos

#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?

Author: https://facebook.com/171495075030 – Creative Loafing Charlotte


City: call 1 336-430-3952

Publication author

offline 1 year

Brooke Mitchel

Comments: 0Publics: 455Registration: 10-04-2018