Michael Jordan, arguably the best basketball player of all time, has ended his time as an NBA team owner. According to ESPN’s Adrian Wojnarowski, Jordan has agreed to sell his majority stake in the Charlotte Hornets to an ownership group led by Gabe Plotkin and Rick Schnall.

Plotkin, a minority owner with the Hornets, and Schnall, a minority owner with the Atlanta Hawks, agreed to pay $3 billion to take over the control of the team. Jordan will reportedly keep a minor stake in the franchise. 

Jordan, who originally bought the Hornets in 2010 for $275 million, put the franchise on sale earlier this year. He previously sold a significant minority stake in the team to a group that included Plotkin and hedge fund manager Daniel Sundheim back in 2020.

Under Jordan’s ownership, the Charlotte Hornets were consistently one of the worst teams in the NBA. They only made the playoffs twice, being eliminated in the first round both times. Their best regular-season finish was sixth seed in Eastern Conference in 2015–16.

The Hornets, however, might be positioned to have a bright future. They have a young star in point guard LaMelo Ball and hold the No. 2 pick in the 2023 NBA Draft.

The post Michael Jordan Completes the Sale of Hornets for $3 Billion appeared first on SportzBonanza.

Michael Jordan’s reign as the owner of the Charlotte Hornets might soon come to an end. Jordan is reportedly engaged in talks to sell a majority stake in the franchise to a group led by businessman Gabe Plotkin, who already has a minority stake in Hornets, and Atlanta Hawks minority owner Rick Schnal.

According to ESPN’s Adrian Wojnarowski, while the deal is not imminent, there is enough traction for all parties to be optimistic about getting it over the finishing line. If the sale is completed, Plotkin and Schnal will take over as Hornets’ governors, while Jordan will keep a minority stake in the team.

Jordan, widely considered the best basketball player in the history of the sport, bought a minority stake in the franchise back in 2006, becoming the second-largest shareholder at the time. Four years later, the Hall of Famer became the Hornets’ majority owner, purchasing the team for $275 million.

During Jordan’s time as the owner, the Hornets made three playoff appearances, losing in the First Round each time. Their best regular-season result in the East during that time was the sixth seed in 2015–16.

The Hornets are currently sitting at No. 14 on the Eastern Conference standings with a 22-49 record. If they remain there, it will mark the team’s worst finish in the past 10 years.

The post Michael Jordan Looking to Sell Majority Stake in the Hornets appeared first on SportzBonanza.

It doesn’t come as a surprise that basketball legend Michael Jordan never considered a coaching gig since he ended his NBA career. Jordan not only has his own team in the NBA, but he also doesn’t need more validation in the world of sports as he is still considered the best player in the history of the game.

But, as it turns out, there is one more reason why Jordan never attempted to pass his knowledge in a coaching role. In a recent interview with Cigar Aficionado, Jordan explained that he simply doesn’t have the patience to be a coach.

“I have no patience for coaching,” said Jordan. “My biggest problem from a competitive standpoint is the focus of today’s athlete and the focus where I saw the game, how I pursued the game—it changes, and it’s totally different.”

According to Jordan, the approach to basketball drastically changed since he walked out, and younger players have a different perception of the game than he did.

“For me to ask an individual to focus on the game the way I played the game, in some ways would be unfair for that kid that would have to endure that,” he added. “If he didn’t do it, there is no telling where my emotions would be. I don’t think I would have the patience for it.”

You can check out the full interview below.

Since retiring in 2003, Jordan has been mostly present in basketball as the owner of the Charlotte Hornets. He bought a minority stake in the franchise in 2006 before becoming a majority owner in 2010.

The post Michael Jordan Says He Has “No Patience for Coaching” appeared first on SportzBonanza.

Michael Jordan, arguably the best basketball player of all time, has ended his time as an NBA team owner. According to ESPN’s Adrian Wojnarowski, Jordan has agreed to sell his majority stake in the Charlotte Hornets to an ownership group led by Gabe Plotkin and Rick Schnall.

Plotkin, a minority owner with the Hornets, and Schnall, a minority owner with the Atlanta Hawks, agreed to pay $3 billion to take over the control of the team. Jordan will reportedly keep a minor stake in the franchise. 

Jordan, who originally bought the Hornets in 2010 for $275 million, put the franchise on sale earlier this year. He previously sold a significant minority stake in the team to a group that included Plotkin and hedge fund manager Daniel Sundheim back in 2020.

Under Jordan’s ownership, the Charlotte Hornets were consistently one of the worst teams in the NBA. They only made the playoffs twice, being eliminated in the first round both times. Their best regular-season finish was sixth seed in Eastern Conference in 2015–16.

The Hornets, however, might be positioned to have a bright future. They have a young star in point guard LaMelo Ball and hold the No. 2 pick in the 2023 NBA Draft.

The post Michael Jordan Completes the Sale of Hornets for $3 Billion appeared first on SportzBonanza.

Michael Jordan’s reign as the owner of the Charlotte Hornets might soon come to an end. Jordan is reportedly engaged in talks to sell a majority stake in the franchise to a group led by businessman Gabe Plotkin, who already has a minority stake in Hornets, and Atlanta Hawks minority owner Rick Schnal.

According to ESPN’s Adrian Wojnarowski, while the deal is not imminent, there is enough traction for all parties to be optimistic about getting it over the finishing line. If the sale is completed, Plotkin and Schnal will take over as Hornets’ governors, while Jordan will keep a minority stake in the team.

Jordan, widely considered the best basketball player in the history of the sport, bought a minority stake in the franchise back in 2006, becoming the second-largest shareholder at the time. Four years later, the Hall of Famer became the Hornets’ majority owner, purchasing the team for $275 million.

During Jordan’s time as the owner, the Hornets made three playoff appearances, losing in the First Round each time. Their best regular-season result in the East during that time was the sixth seed in 2015–16.

The Hornets are currently sitting at No. 14 on the Eastern Conference standings with a 22-49 record. If they remain there, it will mark the team’s worst finish in the past 10 years.

The post Michael Jordan Looking to Sell Majority Stake in the Hornets appeared first on SportzBonanza.

It doesn’t come as a surprise that basketball legend Michael Jordan never considered a coaching gig since he ended his NBA career. Jordan not only has his own team in the NBA, but he also doesn’t need more validation in the world of sports as he is still considered the best player in the history of the game.

But, as it turns out, there is one more reason why Jordan never attempted to pass his knowledge in a coaching role. In a recent interview with Cigar Aficionado, Jordan explained that he simply doesn’t have the patience to be a coach.

“I have no patience for coaching,” said Jordan. “My biggest problem from a competitive standpoint is the focus of today’s athlete and the focus where I saw the game, how I pursued the game—it changes, and it’s totally different.”

According to Jordan, the approach to basketball drastically changed since he walked out, and younger players have a different perception of the game than he did.

“For me to ask an individual to focus on the game the way I played the game, in some ways would be unfair for that kid that would have to endure that,” he added. “If he didn’t do it, there is no telling where my emotions would be. I don’t think I would have the patience for it.”

You can check out the full interview below.

Since retiring in 2003, Jordan has been mostly present in basketball as the owner of the Charlotte Hornets. He bought a minority stake in the franchise in 2006 before becoming a majority owner in 2010.

The post Michael Jordan Says He Has “No Patience for Coaching” appeared first on SportzBonanza.