‘Basketball Emperor’ Jordan steps down as Charlotte Hornets owner, ending 13-year reign

“Basketball Emperor” Michael Jordan (60) resigns from the position of NBA owner Charlotte Hornets.

U.S. media such as ESPN reported on the 24th. (Korean time) “The NBA board approved the sale of Charlotte Hornet’s club” and “Jordan’s 13-year-old club operation is over.”

Sources say the NBA board, consisting of 30 clubs, has adopted him with a vote of 29 yes and 1 no. The only person who voted against it was James Dolan, owner of the New York Knicks.

Accordingly, the sale of the Charlotte Club, which is worth about 3 billion U.S. dollars (approximately 3.86 trillion won), is expected to take place within the next one to two weeks. Rick Bell and Gabe Plotkin, who will become the new owners of the Charlotte Club, were each minority shareholders in the Atlanta Hawks and Charlotte Clubs, but with this acquisition agreement, they were given the status of major shareholders to run the club. Bell is co-president of a private equity firm in New York, and Plotkin is founder of Melvin Capital, an American hedge fund.

Jordan, who was the top basketball player with six championships and five MVPs during his active career, bought a stake in June 2006 in Charlotte Bobcats, the predecessor of the Charlotte Hornets, and became a co-owner of Charlotte. Later, in 2010, she acquired an additional share of $275 million. (approximately 353.8 billion. Won), and became the largest shareholder.

Jordan was the first player in NBA history to own a former player. Jordan also became the only black owner of the NBA. Jordan said at the time, “I achieved my goal of becoming an NBA owner after I retired from active duty.”

But for 13 seasons after Jordan became the owner, the Charlotte Club had its worst time. You’ve only reached the playoffs twice. You haven’t been to the playoffs in seven seasons. In the 2022-23 season, most starting players suffered injuries, and the winning rate was only 27-55 and .Of the 30 teams, the winning rate was four from the bottom.

As owner, Jordan actively intervened in the club’s new selection and trade. But every time, he came up with wrong judgments and decisions. Last June, sports critic Skip Bayris criticized Jordan as the worst owner in NBA franchise history.

Jordan is known to remain in his official capacity as a minority shareholder at Club Charlotte.

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