The NBA Board of Governors has just greenlit the sale of the Charlotte Hornets by Michael Jordan to a consortium led by Gabe Plotkin and Rick Schnall.
The sale will official conclude Jordan’s 13-year tenure as the principal owner of the team, although he will continue to maintain a minority stake.
ESPN Sources: The NBA’s Board of Governors has approved the sale of the Charlotte Hornets to a group led by Rick Schnall and Gabe Plotkin, clearing the way to end Michael Jordan’s 13-year run as majority owner.
— Adrian Wojnarowski (@wojespn) July 23, 2023
Jordan originally bought his majority stake in the Hornets back in 2010, but despite his historic NBA career, Jordan’s decisions as an owner were often questionable, starting with a disappointing trade in 2011. The team swapped Stephen Jackson, Shaun Livingston, and the 19th draft pick for Corey Maggette and the 7th pick, Bismack Biyombo. Although the team managed to draft Kemba Walker, a key player for the franchise, the team’s performance still declined significantly.
His management style was heavily scrutinized. He often favored players who demonstrated hard work over those with innate talent, a bias which influenced his executive decisions. He was also involved in the 2011 lockout, leading a group of owners aiming to cap players’ share of Basketball Related Income at 47 percent. This stance was seen as a betrayal by many players and was widely criticized by the media.
Further, Jordan was condemned for surrounding himself with advisors who didn’t challenge his decisions. This environment led to questionable coaching appointments and draft choices. One infamous misstep was the team’s choice to draft Frank Kaminsky ahead of Myles Turner and Devin Booker. Additionally, Jordan’s detached style of management and instances where he questioned his players’ skills were also subjects of criticism.
What do you think about Jordan’s record and his decision to sell?