Chicago Bulls legend Michael Jordan has had a tumultuous tenure as owner of the Charlotte Hornets. Jordan became the majority owner of the franchise back in 2010. Since then, the Hornets have made the playoffs just twice, winning zero playoff series (3-8 total playoff record).
ESPN’s Adrian Wojnarowski reported on Thursday that Jordan is engaged in serious talks to sell his majority stake in the franchise. Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall were named as potential buyers.
Naturally, many Hornets fans were elated with the news as they took to Twitter to share their enthusiasm. Here are some of the top fan reactions:
Michael Jordan is expected to remain a minority owner of the Charlotte Hornets
Despite fans’ excitement that Michael Jordan could sell his majority stake in the Charlotte Hornets, he is still expected to remain a minority owner, according to Wojnarowski.
So it doesn’t look like the Hornets will be completely rid of the Bulls legend just yet.
Regardless of what fans think, Jordan is still set to cash in massively on his investment in the team. Jordan paid $275 million for his majority stake in the franchise in 2010.
The Phoenix Suns just sold for a whopping $4 billion in December. Meanwhile, Forbes currently has the Hornets valued at $1.7 billion. So it looks like Jordan’s wealth is set to increase exponentially if a deal ultimately goes through.
Also read: How much of Charlotte Hornets does Michael Jordan own? Taking a look at share of majority and minority owners of franchise