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    The news of Michael Jordan selling his majority stake in the Charlotte Hornets for $3 billion has sent shockwaves through the sports industry. Jordan’s decision to part ways with the franchise brings an end to his 13-year stint as its owner. Back in 2006, his airness initially invested in the Hornets as a minority stakeholder. Ultimately, his love of the team and the sport led him to acquire a majority stake in the franchise for $275 million from former owner Bob Johnson. With this purchase, he became the NBA’s first and only majority-black owner, a significant step towards diversifying professional sports.

    Over the years, Jordan’s business ventures have extended far beyond the basketball court. His Air Jordan shoe brand, which launched in 1984, has become a global phenomenon and a dominant force in the sneaker industry. The brand’s growth has been staggering, with annual revenue consistently exceeding $3 billion. Jordan’s partnership with Nike has been a game-changer, elevating his status from basketball superstar to a business mogul with a lasting legacy. In addition to his success in the footwear industry, Jordan made waves with his venture into the world of spirits. His tequila brand, Cincoro, co-founded with other NBA owners, has gained significant popularity and acclaim. The ultra-premium tequila that Jordan has created has found a niche among connoisseurs and has helped to diversify Jordan’s portfolio of businesses.

    Michael Jordan looks on during the first half of an NBA basketball game between the Charlotte Hornets and the New York Knicks in Charlotte, N.C., Friday, Nov. 12, 2021. (AP Photo/Jacob Kupferman)

    Furthermore, Jordan’s involvement in motorsports must be noticed. As the co-owner of 23XI Racing, a NASCAR team, he has made his mark in the racing world. The team, named after his iconic jersey number, 23, and co-owned by fellow NBA star Denny Hamlin, showcases Jordan’s competitive spirit in a different arena. His entry into NASCAR has brought a fresh perspective and increased diversity to the sport, attracting new fans and drivers alike.

    In addition to basketball and racing, Jordan has also invested heavily in baseball. His sports ownership portfolio is further diversified by his ownership of the Miami Marlins Baseball Club. His involvement in baseball demonstrates his dedication to the growth and success of multiple sports, solidifying his status as a multifaceted sports entrepreneur.

    It marks a significant milestone in Michael Jordan’s journey as a business mogul as he bids farewell to his majority ownership of the Charlotte Hornets. The fact that he sold his stake for ten times his original investment shows his shrewd business acumen and keen eye for opportunities. Despite the uncertainty surrounding the Hornets’ future, one thing is certain: Michael Jordan’s impact on the franchise, the NBA, and the world of sports will never be forgotten.

    NBA FAQs

    How do you win NBA pick'em pool?

    In order to win an NBA Pick'Em pool, players must have the most points at the end of the season. For each correct pick during the regular season, members will receive one point (customizable based on the pool commissioner). Some pools will choose picks based on the spread or straight up.

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    In NBA Survivor, the last player standing wins. The name of the game is to make it to the next week. A member will select one game from all the games in that given week. If members choose the correct winner, they move on to the next week. If they pick incorrectly, they are eliminated from the contest.

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    In an NBA Survivor pool, players choose one NBA team each week that they believe will win. They may only pick a team one time per season. Picks are made "straight up," not using a point spread system. If their pick is correct, they survive until the next week. An incorrect pick eliminates the player from the pool for the remainder of the season.

    What is a basketball pool?

    "Basketball Pool" is a broad term for a group of people competitively guessing the outcome of one or more basketball game. There are many types of formats, each assigning winners differently. They can be played informally between friends or through a more formalized system.

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    In NBA Playoff Bracket pools, the winning entry is the team with the most points at the end of Playoffs. Members try to pick the winner of each playoff series. For each series, they also pick how many games they think the series will go. Points are awarded for each winning pick, with bonus points for how close they come to the correct series length

    What is an NBA Playoff Bracket Pool?

    In an NBA Playoff Bracket pool, players pick the winner of each NBA Playoff series. Commissioners can choose to have members receive bonus points for guessing the series length. Points increase as the tournament progresses (points per round are configurable by the commissioner). The winning entry is the player with the most points at the end of the playoffs.

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