The basketball legend will sell most of his shares in the franchise to an investment group. I know the details.
News bomb on nba: Michael Jordan decided to sell most of its shares of Charlotte Hornets to an investment group and will cease to be the majority owner of the North Carolina franchise. The agreement is expected to be signed in the coming days.
for the legend of Chicago Bulls this is round business: in 2010, he invested about $275 million to acquire what was then known as the Bobcats. now, It is estimated that he will earn about 3 billion dollars.
The line of buyers is led by Gabe PlotkinChief Investment Officer of Tallwoods Capital LLC, and Rick Schnallco-chairman of the private equity firm Clayton, Dubilier & Rice. Also included are musicians J. Cole and Eric Church.
now, MJ will have a minority stake and a more secondary presence in the organization. Until new owners take over, he will continue to oversee basketball operations.
The truth is that beyond the realm of economics, the mythical escort cannot succeed in this experience. At least, not like he did in his playing days. As a manager, the performance of the Hornets is very careful: three playoff appearances, which did not pass the first round.
The Charlotte Hornets statement
“Michael Jordan reached an agreement to sell most of his shares in a group led by Gabe Plotkin and Rick Schnall. As part of the transaction, Jordan will retain a minute ownership stake in the team“.
Michael Jordan, the greatest legend of the NBA
MJ completely changed the best basketball league in the world. His face is long gone. If today the NBA is known and followed around the world, it is mainly because of its impact. He won it all: earned six rings with the Chicago Bulls; he was left with five MVPs and six Finals MVPs; He knows how to be chosen as the rookie of the year, as the best defender of the season; he was a scoring leader 10 times; and you can continue naming things until tomorrow. Currently, he may be closer to the flashes, but his legacy is eternal.
Picture: Getty Images – Aurelien Meunier
Source: Tycsports
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