Michael Jordan Sells His Stake In Hornets for Billions

It’s the end of an era for Michael Jordan who recently sold his majority stake in the Charlotte Hornets.

While it’s not exactly a goodbye for the NBA legend, he penned an emotional thank you to the team, the fans, and the city.

Michael Jordan Sold His Majority Stake In The Charlotte Hornets For $3 Billion


Late last week, Jordan’s sale of his majority stake in the team was finalized. The Basketball Hall of Famer will maintain a minority stake and also serve as alternate governor, so it’s not officially a goodbye.

The Hornets recently shared news on the new ownership on their Instagram page captioned, “OFFICIAL: The sale of the majority stake in the Charlotte Hornets from Michael Jordan to a group led by Gabe Plotkin and Rick Schnall has been finalized.”

A press release issued by the team explained that the sale was approved by the NBA Board of Governors and it immediately gives Plotkin and Schnall controlling interest in the franchise.

“The opportunity to be the majority owner of the Charlotte Hornets in my home state of North Carolina for the last 13 years has been a tremendous honor. I’m proud of all that the organization accomplished: the exciting on-court moments, the return of the Hornets name, Charlotte hosting the 2019 NBA All-Star Game and HSE becoming a true pillar of this community,” Jordan said.

“Through the years, the unwavering commitment, passion and loyalty of our Hornets fans has been incredible. As I transition into a minority ownership role, I’m thrilled to be able to pass the reins to two successful, innovative and strategic leaders in Gabe and Rick. I know the Hornets organization is in great hands moving forward. I’m excited about the future of the team and will continue to support the organization and the community in my new role in the years ahead.”

Michael Jordan Said “Thank You, But Not Goodbye”

Charlotte Hornets vs. LA Clippers

Jordan issued an open letter to fans, the city, and the team. In his open letter, he makes sure to express his gratitude by starting off saying, “Thank You, but not goodbye, Charlotte.”

“Thirteen years ago, I had the honor of becoming the majority owner of the Charlotte Hornets. The chance to own the NBA franchise in my home state and a city I love was truly a dream come true,” he wrote.

“As Gabe Plotkin and Rick Schnall, and their ownership group, now take a controlling stake in the team, and I transition to becoming a minority owner, I want to say Thank You to Hornets fans for all the love and dedication you’ve shown the franchise and to me over the years.”

Michael Jordan at US former basket legend Michael Jeffrey Jordan attends the French L1 football match between Paris Saint Germain

His letter continues to reminisce about the “unforgettable moments” and the “challenging ones,” as well as the commitment.

“I will never forget the excitement when we brought the Hornets name back to its rightful home in Charlotte, uniting the histories and fanbases of both the original Hornets and the Bobcats. Our fans told us how important this was, and the amazing level of support and enthusiasm proved their point,” Jordan continued.

“One of my earliest priorities was renewing our focus on supporting the needs of our diverse community, just as we ask the community to support our team. From hurricane and COVID-19 relief efforts to our community pillars of education, hunger, military and wellness, Hornets Sports & Entertainment has been at the forefront of supporting this region and our neighbors in times of need.”

A video the team shared on Instagram thanks Jordan for all he’s done in the past 13 years with the team.

“Thank you MJ you are and will always be the GOAT 🐐 and thank you for getting the Hornets name back 🙏🏽,” one fan wrote in the comment section.

Another added, “The GOAT! Thanks for bringing the Hornets name and history back.”

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