Once Nearly Owned by Michael Jordan, $2.3 Billion NBA Team Could Soon Bolster NFL Mogul?s Riches

NBA legend?Michael Jordan is one of the most successful athletes on and off the field. The six-time NBA champion carved out his own path and has set a high standard for other superstars. Jordan became the first former NBA player to be a billionaire and the first retired athlete to be a majority owner of an NBA team with the Charlotte Hornets?in 2010. MJ becoming a majority owner of his hometown team brought a lot of excitement to the fan base. But success has been hard to come by so far. On the other hand, the Chicago Bulls legend was also interested in another team, the Milwaukee Bucks.

The Milwaukee Bucks ownership group set for change

In 2003, Michael Jordan was keen on owning the?Milwaukee Bucks?and held meetings with the Bucks’ former owner and senator Herbert H. Kohl. But negotiations broke down, and?Kohl retained his ownership?and sold the Bucks to billionaire Wesley Edens and Marc Lasry in 2014 for $550 million. Reports suggest that a major stake in the franchise could be sold. Furthermore, Cleveland Browns owner Jimmy Haslam leads the race to buy the stake.

According to a report from?The Athletic,?“American businessman Jimmy Haslam and Haslam Sports Group are in serious talks to buy Milwaukee Bucks co-owner Marc Lasry’s stake in the Bucks, league sources tell The Athletic.”

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According to reports, Haslam has an estimated net worth of $4 billion. He purchased the Cleveland Browns for $1 billion in 2012. Furthermore, the billionaire is also the owner of the MLS team Columbus Crew. Now, his eyes are set on joining the ownership group of the Bucks.

Michael Jordan’s path to NBA ownership

Michael Jordan had his eyes set on multiple teams to purchase in the early 2000s. Discussions with Herbert H. Kohl, Milwaukee Bucks owner at the time, were positive initially. But Kohl was not impressed with the rumors that Jordan was preparing to move the team to Wisconsin after buying Kohl’s stake. So the senator decided against selling the team at the time.

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Three years later, the five-time NBA MVP purchased a minority stake at the Charlotte Bobcats in 2006. Then in 2010, Jordan became the majority owner of the franchise. During his ownership, the team’s name was changed to the Charlotte Hornets in 2013. As an owner, MJ has not been able to replicate his success as an athlete. But the fans can be sure he will taste success as an owner.