He’s 60, so he probably wants to enjoy his life’s earning while he still can.......................
$3 billion dollars for a small market basketball team? I guess the Yankees or the cowboys must be worth $20 Billion.
The distortions of economy are obvious in this. $3 billion for a circus act, I mean it does get broadcast on TV worldwide. Still, just a bunch of boys playing. So many poor, homeless, living in the dirt. Some of them making shoes for these “playas” for their room, board and bread.
Off topic, but, the value of these NBA franchises is in the billions now?
In 1974, the New Oleans Jazz joined the NBA as an expansion team, and the franchise fee was 6 million dollars.
The market value of an NBA team has increased greatly, just an observation.
It looks like he fleeced the buyer.
#27 Charlotte Hornets Calculated October 2022
TEAM VALUE $1.7B
OWNER(S) Michael Jordan
CHAMPIONSHIPS 0
YEAR PURCHASED 2010
PRICE PAID $175M
REVENUE $269M
OPERATING INCOME $94M
DEBT/VALUE 12%
PLAYER EXPENSES $105M
GATE RECEIPTS $31M
WINS-TO-PLAYER COST RATIO 111
REVENUE PER FAN $37
METRO AREA POPULATION 2.7 Million
Revenue and operating income are for 2021-22 season and net of revenue sharing and arena debt service.
They don’t even own their arena. The taxpayers of Charlotte are getting fleeced for that.
Jordan is only selling his majority stake.
The team has never won a championship and has 12 of 33 winning seasons.
So... Tell me how America is so racist a black man can become a billionaire chasing a ball? I remember during his heyday all the kids wanted to be Michael Jordan. His face was everywhere. He was kind, talented, and patriotic. NO ONE said anything about him being black. No one cared. All the things the modern left has worked to destroy.
Now we have sniveling punks like LeBron James who complain non stop about how hard they have it.
Great basketball player.
I’m not sure if were a better owner than he was baseball player.
I always thought he missed his second sport.
He could have been the greatest soccer goalie of all time.
Length, reactions, and hand-eye coordination would have made him the best.
But Mike is probably like me, could care less about the game most of the world calls football.