In terms of on-court success, Michael Jordan has a 100% record of winning championships. However, the same success could not be replicated during his stint as a front-office executive. First, it was during the Wizards’ run when he came back from retirement for the third and final time. Later, it was with the Charlotte Hornets, which lasted for 13 long years. The sale earned MJ a huge check, but now he is no longer a majority owner in the NBA. Till today, many are trying to decode the reason behind it.

John Hope Bryant, a financial literacy expert, stated, “I mean, first of all, you won’t know what was driving that decision until you’re inside of Mike’s Inner Circle. So, we don’t know really what was driving it. Was it a tax reason? Was it estate planning? You know, did he have some pressures because there was another investment he needed to make? Was there a time capsule on it tied to a range of decisions he had to make?” During his appearance on Jemele Hill’s YouTube channel, the founder of Operation HOPE stated people can continue to question the decision, but it was the right one after all.

Michael Jordan initially acquired the team in 2010 for $275 million. The 13-year tenure as a majority owner came to an end when a group led by Gabe Plotkin and Rick Schnall purchased the stake. As per the reports from the former ESPN insider, Adrian Wojnarowski, the valuation at the time was approximately $3 billion. The vote on the sale was 29-1, with New York Knicks owner James Dolan, as the lone dissenting voice.

“Would just say these businesses are meant to be sold. I mean, that’s my answer. Businesses, that’s the whole purpose of it. You build it, you grow it, you monetize it by selling it,” John Hope Bryant said to Jemele Hill. MJ was the league’s lone Black majority owner. Now he holds a minority ownership stake.

Michael Jordan‘s reign was overall disappointing as the team made just three playoff appearances. Under his leadership, the team went 423-600 and failed to win a single series. Yet, the off-court valuation kept on increasing thanks to the Bulls legend.

Michael Jordan puts his $2.25 billion profit to use

The business acumen of His Airness led to one of the most iconic partnerships with Nike. In the upcoming year, they will celebrate the 40th anniversary of the Air Jordan series. The deal includes a 5% royalty for the 6x NBA Champion and his estimated income from that is close to $350 million. So, there would definitely have been a reason for removing his stake from the Hornets team.

The $3 billion valuation ultimately made Michael Jordan a $2.25 billion profit. And a few months ago, Jordan’s $100 million investment came to light, “NEWS: Michael Jordan has invested in Courtside Ventures’ latest round. The VC firm is looking to raise $100M in its fourth fund, per SEC documents.” Courtside Ventures, co-founded in 2016, specializes in early-stage investments in companies at the intersection of sports, media, fitness, and technology. The firm is known to boast its association with names like 100 Thieves and Freeletics.

By joining the fund, Jordan positions himself alongside other prominent investors to shape the future of sports innovation. And once again staying a step ahead of the competition. But the question still remains: was it necessary to sell his stake in Charlotte Hornets?