Is this the end of owner Michael Jordan in the NBA? According to ESPN“His Airness” is indeed negotiating the sale of its majority shares in the Charlotte Hornets.
It would be Gabe Plotkin, minority shareholder of the franchise, as well as Rick Schnall, minority shareholder in the Atlanta Hawks, who could regain control of the club, Michael Jordan remaining in a minority position.
ESPN adds that nothing is imminent but there are nevertheless serious negotiations on both sides.
If the talks succeed, it would be the end of a 13-year adventure since Michael Jordan took control of the Charlotte Bobcats in 2010. An extremely mixed adventure because the club only had two playoff campaigns over the period, for two eliminations in the first round of the playoffs.
But entered the capital of the Hornets in 2020, does Gabriel Plotkin have the finances to be one of the investors, he whose investment fund Melvin Capital recently closed following the GameStop affair ?
In any case, if he decides to sell, Michael Jordan will necessarily make a nice capital gain, while he had paid 275 million dollars to become the majority shareholder of the club in 2010. According to the latest estimates, the Charlotte Hornets are now valued at $1.8 billion.
