Despite Converting Millions Into Billions at Hornets, Why Is Michael Jordan Seen as a Failure for an Owner?

As a player, Michael Jordan brought many laurels and his legacy remains one of the most storied ones. He earned nicknames like His Airness and Black Jesus because of his dominating playing style. He clinched six championships, five MVP titles, fourteen All-Star appearances, and various other accolades. However, when he took the majority ownership of Charlotte Hornets(then Charlotte Bobcats) in 2010, the team only went further downhill. Under his ownership, the team couldn’t accomplish anything major and failed to make an impression.

Now that he is longer the majority owner of the Charlotte Hornets, it becomes essential to look at the tumbling nature of the Hornets Franchise that never saw any upliftment. 

Charlotte Hornets have been a dumpster fire for a long time

MJ sold his majority stake in Hornets for $3 billion to an investment consortium that includes hip-hop phenom J Cole. Although the valuation of the Franchise increased ten times when he first bought it, local fans have gone through a lot of pain since Jordan took over. To begin with, in the lockout-shortened 2011-12 season, the team posted a 7-59 record and the win percentage of 10.6% is the worst in the league’s history. This inauspicious beginning only stretched towards a more painful journey in the last decade or so. 

In the 13 seasons under Jordan, the Hornets only made the Playoffs three times. They never finished higher than the sixth seed and never won a Playoff series. Their best return came in the 2015-2016 season when they finished with 48 wins and 34 losses, but lost the Eastern Conference First-Round against Miami Heat in seven games. Overall, the squad had the fifth-worst winning percentage during Jordan’s time as an owner. The team never got the draft right and couldn’t sign players that could lift the fog of Playoffs that has haunted the team for two decades now. 

The decision to purchase Hornets emanated from Jordan’s roots. He grew up in Wilmington, North Carolina. Charlotte is also in North Carolina and is the only franchise in the state. Jordan’s announcement to buy the majority stake caused a surge in excitement among Charlotte fans.

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However, reality pinched them within two years during the dismal 2011-12 season. When the Jumbotron showed him on the last day of the 11-12 season, the hometown Hornets fans booed him relentlessly. Even last season, the team finished with the second-worst in the Eastern Conference.

The new owners have their hands full

Under MJ’s guidance, the team banked upon injury-prone players like Gordon Hayward and got most of their decisions wrong. No major stars at their peak signed with the team and their future looks riddled unless the next owners Gabe Plotkin (Chief Investment Officer of Tallwoods LLC), Rick Schnall (Co-President of Clayton, Dubilier & Rice), J. Cole (Renowned Hip-hop music artist), and Eric Church (Country music artist) correct the ship. Rumours hint at a Zion Williamson trade, but these are just speculations.

The Bulls’ Legend retains a minority stake in the Franchise, but he had left a huge trail of failure and disappointment as a majority owner. As a business executive, he has succeeded by getting ten times the return on his original investment. As an owner, he couldn’t have done worse. 

Will the Hornets become an attractive destination for highly-rated free agents when he leaves? Let us know in the comments below.

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