After Michael Jordan Profited $3,000,000,000 From Massive Deal, ESPN?s Insider Explores Hornets? Next Strategy

Ever since retirement, NBA Legend Michael Jordan has been focusing on using his hard-earned money to grow his own brand and invest in other businesses. From making less than $100 million, Jordan has gone on to accumulate a net worth of $2 billion dollars. Reaching the billion-dollar mark in 2016 made him the first player/former player to do so in the history of the NBA.

As Jordan recently engaged in yet another business transaction that has rocked the NBA world, a renowned ESPN journalist breaks down what?s coming next

Michael Jordan steps away from a 13-year ownership stake

Since 2010, Michael Jordan has been the primary owner of the professional basketball team ?Charlotte Hornets. He first acquired a minority stake in the team back in 2006 and would go on to earn the majority stake at the cost of $275 million.

Nine days ago, Adrian Wojnarowski, one of the most well-known journalists in the sports world, took to Twitter. He broke the news that ‘His Airness’ was finalizing a sale that will result in the Charlotte Hornets being sold off to a group of investors.

Led by businessman Gabe Plotkin and Rick Schnall, the investors are acquiring control of the team at a cost of $3 Billion. The amount is more than ten times the investment that Jordan placed into the team 13 years ago. The former Chicago Bulls‘ player is expected to keep his minority stake.

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The sale was approved only a few hours ago by the NBA Board of Governors. A final agreement will be signed in a few days.

Adrian Wojnarowski expects a lot of work to be done from the Hornets’ side

Touching upon the subject of the sale, Adrian Wojnarowski sat down with the latest edition of ESPN?s ?NBA Today?.

According to him, the new owners need to get a lot of work done. Work in regards to infrastructure and creating a certain amount of credibility. The journalist knows that big changes are not something that is going to happen soon.

?They are gonna take their time, they?re gonna evaluate the organization,? said Wojnarowski in regards to the new management.

Wojnarowski provided credit where it?s due. He said that the new ownership understands the importance of developing the team?s latest pick, 20-year-old Brandon Miller, into a surefire thing that can dominate on the basketball court.

?There is some work to be done in the short term-long term but this is an organization that, on the court, could rebound very quickly this year? said Wojnarowski on the future that the Hornets can hold when the next season of the NBA rolls up.

The sale leaves Jordan $3 billion richer. The Hornet players, however, are going to miss the presence of the NBA Legend on their side.

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