After Michael Jordan Banked $3 Billion in Hornets Sale, $7 Billion Worth Golden State Warriors Could See New Ownership, Per Report

The NBA witnessed a remarkable shift when Michael Jordan sold the majority of his ownership stake in the Charlotte Hornets. The sale of $3 billion marked a significant period in the league as Golden State Warriors might go through the same. If the recent reports are to be believed, the $7 billion franchise could see new ownership.

The San Francisco side has been the most successful NBA team since the start of the previous decade. Despite that, their future hangs in the air right now after the talks regarding the buyers’ latest arrival.

Would the Warriors’ owners follow in the footsteps of Michael Jordan?

A minute portion of the GSW ownership might be up for sale soon, according to a recent report from Bloomberg. A group of minority holders were reportedly looking for interested buyers for the organization. This group owns slightly over 10% of the NBA team, which is currently valued at $7 billion.

This figure makes the franchise one of the richest teams in all sports and definitely the richest in the league. Thus, the sellers have been attempting to bring the valuation down by a notch to make more parties interested. The talks to discuss this matter have been going on for some time, as the owners want an exit.

The news broke out right on the back of the completion of the Hornets sale, where Gabe Plotkin and Rick Schnall became majority stakeholders. Jordan stayed on as a minority owner, relieving himself of the decision-making responsibilities. As the market remained tempting, the Warriors owners did not want to let the opportunity go to waste.

What does the future hold for the team?

Since Joe Lacob’s arrival in the Bay Area following his $450 million purchase back in 2010, he has been one of the best owners in the league. Helping the team win four championships in six NBA finals, his leadership turned everything around for the fans. In the meantime, a lot of changed both on and off the court.

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Many have shown interest in owning stakes in this team, as recently as in 2021, when Arctos Partners bought 5% at the $5.5 billion valuation. They more than doubled it later that year with 13% ownership of the team. So, there are numerous who see the benefit of owning an appealing team like this. The proper reasons as to why the minority owners want to move out remain confidential. Despite the cause staying a mystery, the franchise looks all set for its upcoming season.

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