Billionaire Michael Jordan’s $2.25 Billion Decision Lures Goldman Sachs to Invade Rugby, Lacrosse and More Sports

Michael Jordan. The newer generation may not know the impact this NBA legend made on basketball. Yet, Jordan’s influence can be found in their wardrobes for sure. Back in 2003, Jordan retired from his legendary career. But that was not all he had accomplished. Instead, he continued to add millions to his bank account with the help of Jordan Brand.

And, this led to Jordan Brand earning the most revenue over the years. In 2010, Jordan Brand generated enough to purchase the Charlotte Hornets’ stake in exchange for $275 million. Not only this, but last year, he finally sold the majority of his stake in exchange for $3 billion. And, that too effectively contributed $2.25 billion as profit.

After 14 years, the deal is again sparking debates, garnering the attention of Goldman Sachs. In a recent episode of CNBC Television, Nicole Pullen Ross, Goldman Sachs’ head of sports and entertainment, sat with the team to share insights on “Squawk on the Street”. Within a couple of hours, the video with the title, “Goldman Sachs’ big bet on sports” was uploaded to the official Youtube channel of CNBC Television.

“I do think that the trend looks like it’s going to be higher. I don’t know if that will be so consistently across all sports, but we’re certainly seeing that,” shared Nicole in the same interview. She added, “I will not say pickleball. That would have been something to say last year. But it includes everything from lacrosse to rugby to professional bull riding.” But that’s not everything Nicole said.

Analyzing Nicole’s insights

Moving on, Nicole shared what attracted her attention, “I mean, a little bit of the question is the increase in growth versus where the sports are now. So even if it’s a smaller market, if we see upside potential versus the sort of rapid growth that led so many investors to look at this space.”

She added, “The Charlotte Hornets, those transactions, $275 million investment. Michael Jordan and a consortium transaction sold for $3 billion. So those sort of numbers, I think, will continue to keep our clients interested in asking. Most of our clients look at investing in sports through diversified funds.”

But why is she saying this? Notably, Michael Jordan drafted LaMelo Ball as the owner of Hornets. However, the draft was made official last year, contributing a significant increase from $2 billion to $5 billion to Jordan’s net worth. Now, the question is: Is this a sign that Jordan will be signing another deal with Goldman Sachs?