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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.
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.
What is NBA pick'em pool?
In an NBA Pick'Em pool, players make weekly picks (either against the point spread or straight-up). The number of picks each week is customizable by the pool commissioner. Optional best-bet and confidence pick settings can be put into place as well. Commissioners can use a hosting site like RunYourPool to keep up with scoring and calculations.
How to play an NBA basketball pool?
The way one plays a basketball pool varies on the game type. For example, in Pick'em Pools, you simply pick every game each week.
How to run a weekly basketball pool?
In order to run a basketball pool, you must first crown yourself as Pool Commissioner. Begin by picking a game type like Survivor or Pick'Em. You'll want to establish rules before inviting friends, family, and colleagues to join. As commissioner, you make the rules and also need to enforce them equally and fairly.
How do you win NBA Survivor Pool?
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.
What is NBA Surivor Pool?
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.
How to make a basketball pool?
A basketball pool generally requires the creation of a shareable spreadsheet (like Google Sheets) so that members may pick teams. Then depending on the game type, creators must use several kinds of formulas (e.g. CountIF), data validation, and conditional formatting. Or, you can just use basketball pool hosting services like RunYourPool where we do all the work for you!
How do you win NBA Playoff Bracket Pool?
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.
Are there other Playoff Pools?
Yes! RunYourPool offers plenty of contest types for various playoff events! March Madness squares and bracket pools aer very popular among basketball fanatics, while the Super Bowl Prop Pool is the most popular annual event game.
How to set up a basketball pool?
To set up a basketball pool, you'll need to first choose a pool type like Survivor or Pick'em. Then, you'll need to set the ground rules. As pool commissioner, you'll enforce these rules and make sure the game runs smoothly throughout the season. Many commissioners use pool hosting sites like RunYourPool to make it easier and more engaging.
