We all know that Michael Jordan is one of the greatest basketball players of all time. But did you know that he also owns an NBA team? In this blog post, we will discuss what NBA team does Michael Jordan own? We will also take a look at his current team, the Charlotte Hornets. So, if you are interested to know more, keep reading.
Michael Jordan’s NBA Team Ownership
Michael Jordan is a retired professional basketball player and the majority owner of the Charlotte Hornets. He played for the Chicago Bulls from 1984 to 1998, winning six NBA championships with the team.
In 2006, he became the first former player to become the majority owner of an NBA franchise when he purchased a controlling interest in the Hornets. Jordan has been active in the Hornets’ management, making personnel decisions and overseeing the team’s business operations.
He has also been involved in charities and philanthropy, donating millions of dollars to support causes such as education, health care, and disaster relief. In 2010, Forbes magazine estimated Jordan’s net worth to be $1 billion, making him one of the richest athletes in the world.
The Charlotte Hornets
The Charlotte Hornets are a professional basketball team that has competed in the (NBA), which is part of the league’s Eastern Conference Southeast Division. The team is owned by NBA legend Michael Jordan. MJ acquired a controlling interest in the club in 2010. The Hornets play their home games at the Spectrum Center in Uptown Charlotte. They are currently coached by James Borrego.
The franchise began to play in 1988 as an expansion team and relocated to Charlotte from Greensboro, North Carolina in 2002. In that time frame, the franchise won five conference titles and two division championships. The Hornets made the playoffs 10 times between 2004 and 2017 but failed to make it past the first round on each occasion.
The team’s name was changed to the Charlotte Bobcats following the conclusion of the 2001–02 NBA season. Jordan led a successful 2012 campaign to reintroduce the Hornets name, which he had previously registered with the NBA while he owned the rights to it during his playing days with the Chicago Bulls; this finally occurred for the 2014–15 season when it turned 18 years old, coinciding with Jordan taking over as majority owner. Led by All-Star point guard Kemba Walker, the Hornets returned to the playoffs in 2018 for the first time since 2016. They defeated the Miami Heat in the first round before losing to the eventual Eastern Conference champion Toronto Raptors in seven games.
MJ’s Investment In The Team
Michael Jordan’s investment in the Charlotte Hornets is one of the most significant investments he’s made in his post-playing career. The Charlotte Hornets were struggling when MJ became a part-owner in 2006. Since then, the team has shown marked improvement. They made the playoffs in 2010 and 2014, and this season, they’re currently tied for fourth place in the Eastern Conference. MJ’s investment has been key to the team’s turnaround. Not only has he provided them with much-needed financial support, but he’s also been instrumental in attracting high-profile free agents and making trades that have helped to improve the team’s on-court performance. Thanks to MJ, the Charlotte Hornets are now a force to be reckoned with in the NBA.
What The Future Holds For Jordan And The Hornets
The Hornets are currently in their fifth season since Jordan bought the team, and they have made the playoffs three times. This year, they are once again in contention for a spot in the postseason. So, what does the future hold for Jordan and the Hornets?
Jordan has said that he is committed to building a winning culture in Charlotte. The Hornets have already made significant strides under his ownership, and they appear to be on track to becoming a perennial playoff contender. Jordan has also been active in improving the team’s facilities and recruiting top talent. With Jordan’s continued involvement, likely, the Hornets will only get better in the years to come.
As for Jordan himself, he shows no signs of slowing down. He remains deeply involved with the Hornets and takes great pride in their success. At 55 years old, he shows no signs of retirement and appears to be as passionate about basketball as ever. It seems safe to say that Jordan will continue to be a driving force behind the Hornets’ success for years to come.
What Are Other Investments Of MJ?
Not everyone knows this, but in addition to being a successful businessman, MJ is also a very savvy investor. He has made several smart investment choices over the years that have earned him a considerable return.
For example, he was one of the early investors in Uber and Airbnb, and he also owns a stake in a number of tech startups. But MJ’s investments don’t just stop at tech companies. He also has a portfolio that includes real estate, art, and even cryptocurrency. In other words, MJ is always on the lookout for new opportunities to invest his money. And given his track record, it’s safe to say that he knows what he’s doing.
Michael Jordan is a legend, both on and off the court. His investment in the Charlotte Hornets has been instrumental in turning the team around. Thanks to MJ, the Hornets are now a force to be reckoned with in the NBA. The future looks bright for both Jordan and the Hornets.
What do you think about MJ’s ownership of the Charlotte Hornets? Let us know in the comments!