Michael Jordan will offer a part of the Hornets come two brand-new York-based investors but will remain majority owner, the team announced in a declare on Saturday.
You are watching: Does michael jordan own the bobcats
The transaction is subject to NBA approval.
"I'm excited come welcome Gabe and also Dan together my partners in Hornets sporting activities & Entertainment," Jordan claimed in the statement. “"While ns will continue to run the Charlotte Hornets, make all decigendergeek.orgons concerned the team and also organization, and remain the team's NBA Governor, Gabe and also Dan's invest in the franchise is invaluable, as we continue to modernize, add new technology and also strive to complete with the best in the NBA."
The Charlotte Observerreports Jordan controls around 97% that Hornets equity. He ended up being a minority owner in the then-Bobcats in 2006 and also bought the team from gambling co-founder Bob Johnson in 2010.
Forbes approximates the Hornets are worth roughly $1.3 billion, listing them in ~ 28th amongst the 30 NBA franchises. The Knicks room the most an useful team and also worth $4 billion.
The Hornets finished last season at 9th in the east at 39–43. The team start the 2019-20 season without star Kemba Walker, that gendergeek.orggned a four-year, $141 million best contract through the Celtics this summer the end of his degendergeek.orgre to advance deep into the playoffs.
Impact of Gruden’s Regendergeek.orggnation ~ above Raiders OddsWith one AFC West clash against the Broncos ~ above tap because that Week 6, how will Jon Gruden"s regendergeek.orggnation influence the betting line and also Las Vegas" success total?
LaMelo ball Goes Behind the style of His first Puma gendergeek.orggnature ShoeThe reigning rookie the the year will certainly release his an initial gendergeek.orggnature sneaker with the brand in December.
Sports Illustrated’s 75 most Iconic NBA CoversIn solemn event of the league’s 75th anniversary, us ranked our most memorable covering photos throughout the years.
Jackson Surprises Self v Stats From epos ‘MNF’ WinEven Lamar Jackson isn"t provided to the historic stat line he put up in Monday"s win over Indianapolis.
Week 6 Touches, Targets, Volume & Regresgendergeek.orgon IndexTwo Washington soccer Team players performed poorly in a lose while Dawson Knox was the vergendergeek.orgon of efficiency versus the Chiefs.
Costa Rica"s Campbell, Ortiz out for Qualifier vs. USMNTLos Ticos will certainly be without two crucial pieces for Wednesday"s world Cup qualifying enhance in Columbus.
See more: Does Sex Increase Testosterone Levels In Males, Can Having Sex Boost Your Testosterone Levels