While Michael Jordan no longer holds a majority ownership stake in an NBA team, he does retain a minority ownership interest in the Charlotte Hornets. His significant tenure as a primary owner of the franchise spanned over a decade.
Michael Jordan's Historical Majority Ownership of the Charlotte Hornets
Michael Jordan's journey into NBA team ownership as a majority stakeholder began on February 17, 2010. On this date, an ownership group led by Jordan successfully purchased a majority share of the franchise that was then known as the Charlotte Bobcats. This landmark acquisition made him the first former NBA player to become a majority owner of an NBA team.
The team underwent a significant rebranding during his ownership. In 2013, the Charlotte Bobcats announced their plans to revert to the more iconic Charlotte Hornets name. This transition officially took effect for the 2014–15 NBA season, bringing back a beloved moniker to the city's basketball landscape.
Jordan maintained his position as the principal owner for over 13 years, overseeing the team's operations, player personnel decisions, and overall strategy. His deep understanding of the game and his legendary status brought a unique perspective to the ownership role.
A Timeline of Michael Jordan's Ownership
The following table outlines key dates related to Michael Jordan's ownership of the Charlotte franchise:
| Date | Event |
|---|---|
| Feb 17, 2010 | An ownership group led by Michael Jordan purchases a majority share of the Charlotte Bobcats. |
| 2013 | The Charlotte Bobcats announce their plans to rebrand as the Charlotte Hornets. |
| 2014–15 Season | The team officially begins playing under the Charlotte Hornets name. |
| August 2023 | Michael Jordan sells his majority stake in the Charlotte Hornets. |
Current Ownership Status
In August 2023, Michael Jordan completed the sale of his controlling interest in the Charlotte Hornets to a new ownership group. While he no longer holds the reins as the majority decision-maker, his continued minority ownership interest means he remains connected to the franchise. This transition marked a new chapter for both Jordan and the Hornets, as the team looks to build on its foundation under new primary leadership.
For more information on the Charlotte Hornets and their history, you can visit their official team page or their Wikipedia entry.
