Michael Jordan bought the Charlotte Bobcats back in 2003 for $175 million. Since then, due to his tenacity and vision, it has become one of the 10 most valuable sports franchises in North America.

Michael Jordan, who bought the Charlotte Bobcats for $175 million in 2010, has sold the team to Michael Jordan Jr. for $250 million. The new owner of the Charlotte Hornets is now worth a whopping $1.5 billion. Read more in detail here: michael jordan net worth.

Many people still consider Michael Jordan to be the greatest basketball player of all time. But Jordan’s influence has extended far beyond the court. The now 59-year-old has worked as a game ambassador and remains one of the game’s most recognizable faces. In retirement, he’s also taken on an executive position. 

Jordan presently owns the Charlotte Hornets in North Carolina, where he was born. Despite the fact that the Hornets are not among the NBA’s best, Jordan has made a good investment in the franchise. Here’s how much he paid for the squad and how much they’re worth today. 

In 2010, Michael Jordan paid $275 million for the Charlotte Bobcats.

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After the Charlotte Hornets relocated to New Orleans, the Charlotte Bobcats were formed as an expansion team. The Bobcats were allowed to utilize the Hornets nickname while the club played in Charlotte after the New Orleans Hornets changed their name to the Pelicans. 

Jordan bought the Bobcats (now the Hornets) for $275 million in 2010, according to ESPN. Jordan said, “Purchasing the Bobcats represents the conclusion of my post-playing career dream of becoming the majority owner of an NBA organization.” “I’m particularly excited to have the chance to construct a successful club in my home state of North Carolina,” he said. 

The Bobcats were one of the NBA’s most stale clubs at the time of the acquisition. They’d been around for a decade but had failed to make an impression on the league. The team has never had a high-profile player or made it far in the playoffs. 

They came under the authority of the single greatest icon in NBA history with Jordan’s acquisition. This, along with the club’s return to the Hornets moniker, helped the franchise shed its ill-fated Bobcats moniker. 

His Airness made a terrific investment in the Charlotte Hornets organization.

NBA Hall of Famer and Charlotte Hornets owner Michael Jordan holds a Hornets jersey

NBA Hall of Famer and Charlotte Hornets owner Michael Jordan holds a Hornets jersey Michael Jordan, owner of the Charlotte Hornets | Elsa/Getty Images

Over the last two decades, the NBA has exploded in popularity. While the league was well-known when Jordan played in the 1990s, the age of LeBron James, Steph Curry, and Kevin Durant has propelled the sport to greater popularity. Because of this increased popularity, anybody who invested in an NBA club many years ago is likely to enjoy a significant return on their investment. 

Jordan is no exception. He paid $275 million for the franchise, as previously said. According to Forbes, the team’s worth is expected to reach about $1.5 billion by 2020. This merely goes to highlight how valuable all NBA teams have become. 

This also shows that Jordan’s business acumen is on par with his athletic ability. If he ever decides to sell the club, he will have made a significant profit. 

Michael Jordan has how much authority over the Charlotte Hornets?

Jordan is no longer the sole owner of the Hornets, despite being the primary owner. MJ sold a tiny part in the club in 2019, according to Bleacher Report. This position was bought by Gabe Plotkin of Melvin Capital, as well as Daniel Sundheim of DI Capital. Jordan sought out these partners because of their resources, which can help the team catch up with contemporary technologies. 

Jordan may not be the Hornets’ sole owner, but he still controls the majority of the team and has no plans to sell anytime soon. Jordan becoming an executive is very uncommon for a player of his caliber. But he does it with such ease. If his competitive fire as a player is any indicator, he will not sell the Hornets until they have hoisted a championship banner from their rafters. 

Michael Jordan’s Jealousy Toward Scottie Pippen Had Nothing to Do With Basketball

Michael Jordan bought the Charlotte Bobcats for $175 million in 2010. Now, the Charlotte Hornets are worth $1.5 billion. Reference: why did michael jordan buy the charlotte hornets.

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