Michael Jordan speaks out after Charlotte Hornets’ $3 billion sale: ‘My love of basketball stays strong…this is not a goodbye’

Michael Jordan has written an emotional open letter to Charlotte Hornets fans after selling his majority stake in the team for $3 billion.

Jordan, 60, said it’s time for him to focus on other interests in his life, but insists his love of basketball remains as strong as ever.

“Now is a good time for me to pass the baton and focus on my family, personal interests and new challenges,” Jordan said. “I’m excited to see what the future holds and look forward to supporting the team and the community in my new role for many years to come.”

“This is a thank you, not a goodbye, because North Carolina State, the city of Charlotte and the Hornets will always hold a special place in my heart.”

The Basketball Hall of Famer retains a minority stake in the team, while former minority owner Gabe Plotkin joins Rick Schnall at the top of the club’s new ownership hierarchy.

Jordan, 60, spoke of his pride in owning the Hornets for 13 years

The sale ends Jordan’s 13-year run as majority owner and leaves the NBA without any African-American team governors.

“Thirteen years ago, I had the honor of becoming the majority owner of the Charlotte Hornets. The chance to own the NBA franchise in my home country and in a city I love was truly a dream come true. ‘, wrote Jordan.

‘As Gabe Plotkin and Rick Schnall, and their ownership group, now take a majority stake in the team, and I transition to minority ownership, I want to thank Hornets fans for all the love and dedication which you have demonstrated. the franchise and for me over the years.

“We had some unforgettable times together, as well as some tough times, but through it all, you remained committed to us.

“While we haven’t had as much success on the pitch as I – and many of you – would have liked, I am proud of the things we have achieved as an organization.

“I will never forget the excitement when we brought the Hornets name back to Charlotte, bringing together the stories and fans of the original Hornets and the Bobcats.

“Our fans told us how important this was, and the incredible level of support and enthusiasm proved their point.”

The Hornets are currently valued by Forbes at $1.7 billion – 27th among NBA teams, and a $1.3 billion improvement over the past decade.

Jordan will now have a minority stake in the team but will step down as primary owner

But Jordan’s success with six NBA championships and five MVP awards hasn’t translated into success as an owner. Charlotte was one of the worst performing teams in the league throughout his tenure.

Outside of the name change from the Bobcats to the Hornets in 2015, Jordan’s tenure as Hornets owner has been anything but memorable.

Charlotte has only had three winning seasons and only two playoff berths since Jordan became majority owner.

“Together we have brought pride to our community, created countless lasting memories for families and friends who have encouraged us and served those in need,” said Jordan.

“This is a thank you, not a goodbye, because North Carolina State, the city of Charlotte and the Hornets will always hold a special place in my heart.”