How much does Michael Jordan stand to make from selling the Hornets? Taking a closer look at the exact figures involved

Michael Jordan is reportedly looking to sell a portion of his stake in the Charlotte Hornets. He intends to remain among the ownership group but as a minority owner. Gabe Plotkin and Rick Schnall would become the co-governers if Jordan's sale goes through. According to ESPN's Adrian Wojnarowski, Jordan will sell his majority stake to Plotkin and Schnall. Here's what Wojnarowski wrote:

"Charlotte Hornets owner Michael Jordan is engaged in serious talks to sell a majority stake in the franchise to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall, sources told ESPN on Thursday.

"No deal is imminent, but there's significant momentum on a sale that would eventually install Plotkin and Schnall as the co-governors of the Hornets, sources said."

MJ has owned the franchise since 2010 after he paid $275 million to buy a majority stake in the team. He sold 20% of the stake to Melvin Capital's Chief Investment Officer, Plotkin, and D1 Capital's Founder, Daniel Sundheim, in 2020. The stakes were worth $300 million.

Jordan's intentions to sell the majority stake could be a significant business decision. He could earn up to $1.5 billion after selling the majority stakes. The Hornets are valued at $1.7 billion as of 2023.

However, the Hornets haven't enjoyed much success, often ending up as a lottery team under Michael Jordan's ownership. They have made the playoffs twice (2014 and 2016) in his 13-year tenure as a majority owner. Charlotte lost in the first round on both occasions. The sale could give MJ the opportunity to invest elsewhere and bolster his already successful business empire.

Michael Jordan has been the only African-American majority owner in NBA history

Michael Jordan continued to create history well after his final retirement as a player from the league. He was 6-0 in the finals, winning the finals MVP on all occasions and five regular season MVP awards. Jordan is widely recognized as the best player of all time.

His influence has been enormous over the decades, and many young players also look up to the former Chicago Bulls legend. Jordan created history when he purchased a majority stake in the Charlotte Hornets in 2010. He became the league's first and only Black majority owner.

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Michael Jordan has also inspired other former players to get involved in an ownership role. Jordan's investment in the franchise helped reward him with a whopping profit considering the margin of the team's valuation when he bought the franchise and now, as he plans to sell his stake.

Jordan could earn around $1.3 billion in profit if a sale goes through. That evaluation could increase based on negotiations. The Phoenix Suns were valued at $3 billion but were eventually sold for $4 billion to Matt Ishbia. The same could happen with the Hornets, currently valued at $1.7 billion, with Jordan owning 80% of the stake.