Michael Jordan Nba Team Ownership. The national basketball association s nba board of governors has voted unanimously to approve the purchase by michael jordan. The original hornets franchise was established in 1988 as an expansion team owned by george shinn.
Based on the 1 5 billion valuation jordan made about 300 million off that deal almost double what he paid johnson for the team. Jordan 57 first became an investor in the hornets then the bobcats in 2006 and took over as the franchise s controlling owner in 2010 when he bought. 1 overall pick in the 2001 nba draft being one of the all time miscues in a draft.
While michael jordan s ownership of the charlotte hornets has helped make him a billionaire it certainly hasn t helped the status of his legacy as one of the nba s fiercest all time competitors.
The transaction is subject to nba. How michael jordan became an owner of the charlotte hornets after having a minor ownership stake in the team since 2006 jordan became the majority owne r of the franchise in 2010. Jordan is still the majority owner of the team. 1 overall pick in the 2001 nba draft being one of the all time miscues in a draft.