What Basketball Team Does Michael Jordan Own? | Full Details

By Emma Wilson · April 28, 2029

Michael Jordan owns the Charlotte Hornets, a team in the National Basketball Association (NBA). As the principal owner and majority stakeholder since 2010, Jordan became the first former NBA player to become the primary owner of an NBA franchise. His ownership has significantly shaped the team’s identity, branding, and front-office decisions over the past decade.

The History of Michael Jordan’s Ownership

Michael Jordan's journey from basketball legend to team owner began in 2006 when he first acquired a minority stake in the then-Charlotte Bobcats. The franchise, established in 2004 as an expansion team, struggled both on the court and financially during its early years.

Key Milestones in Ownership

2006: Jordan joins the Bobcats as a minority investor and becomes managing member of basketball operations.
2010: Purchases majority control of the team from founding owner Robert L. Johnson for approximately $275 million.
2014: The team reverts to the original Charlotte Hornets name after acquiring the history and records of the defunct Charlotte Hornets (1988–2002).
2023: Jordan agrees to sell the majority stake to Gabe Plotkin and Rick Schnall, ending his 13-year run as controlling owner.

Impact of Jordan’s Leadership

As the face of the franchise, Jordan brought global recognition and marketing appeal to the Hornets. However, the team’s performance under his ownership was mixed, with only one playoff series win during his tenure.

On-Court Performance Challenges

Despite investing in talent through drafts and trades, the Hornets failed to establish sustained competitiveness. Critics often pointed to high turnover in coaching staff and front-office personnel as contributing factors.

Playoff appearances: 4 out of 13 seasons (2014, 2016, 2019, 2022)
Best postseason result: First-round exit in all appearances
Winning seasons: 5

Financial Growth Under Jordan’s Ownership

While on-court success was limited, the franchise saw substantial financial appreciation during Jordan’s tenure. According to Forbes, the Hornets' valuation increased dramatically from the initial purchase price.

Year	Team Name	Valuation ($M)	Operating Income ($M)	Primary Owner
2010	Charlotte Bobcats	278	-16	Michael Jordan (Majority)
2015	Charlotte Hornets	705	24	Michael Jordan
2020	Charlotte Hornets	1300	18	Michael Jordan
2023	Charlotte Hornets	2400	42	Michael Jordan (Selling Majority)

Table data source:1, 2

The data shows that the Hornets' value grew by over 760% between 2010 and 2023, far outpacing the league average. This growth reflects broader NBA expansion, strong media deals, and Jordan’s brand power enhancing marketability.

Transition of Ownership in 2023

In June 2023, it was officially announced that Michael Jordan would relinquish majority ownership of the Hornets. Hedge fund manager Gabe Plotkin and sports executive Rick Schnall acquired controlling interest, though Jordan retained a minority stake.

Reasons Behind the Sale

Desire to reduce operational responsibilities
Increasing complexity of NBA governance and financial management
Opportunity to lock in significant equity gains

Jordan remains involved as a strategic advisor and continues to represent the team in public events, preserving his legacy within the organization.

Frequently Asked Questions About Michael Jordan and the Charlotte Hornets

Does Michael Jordan still own the Charlotte Hornets?

No, Michael Jordan no longer holds majority ownership. In 2023, he sold the controlling stake to Gabe Plotkin and Rick Schnall, though he retains a minority share in the team.

How much did Michael Jordan sell his stake in the Hornets for?

The exact sale price has not been publicly disclosed, but estimates suggest the total valuation of the Hornets was around $3 billion at the time of the sale in 2023.

Was Michael Jordan the first Black majority owner in the NBA?

Yes, when Michael Jordan acquired majority ownership of the Charlotte Bobcats in 2010, he became the first African American majority owner in NBA history, marking a significant milestone for diversity in professional sports leadership.

How many playoff games did the Hornets win under Michael Jordan’s ownership?

The Hornets won only one playoff game during Jordan’s tenure as majority owner — Game 4 of the 2016 First Round against the Miami Heat. They were eliminated in the first round in all four of their playoff appearances.

Why did the Bobcats change their name back to the Hornets?

In 2014, the team reclaimed the “Hornets” name and history from the New Orleans Pelicans (formerly the New Orleans Hornets), restoring the original Charlotte Hornets' legacy, including records and branding from 1988–2002.