Michael Jordan, the legendary basketball icon, has bid a poignant farewell to Charlotte Hornets fans following his decision to sell his majority stake in the team for a staggering $3 billion. After a transformative 13-year tenure as owner, Jordan expressed gratitude to the community that embraced him and the franchise he revitalized.
In an emotional open letter, Jordan reflected on his journey as the Hornets’ majority owner, describing the experience as a dream fulfilled. “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 state and a city I love was truly a dream come true,” he wrote, acknowledging the significance of his ownership to both himself and the local community.
Despite his decision to step back and assume a minority stake, Jordan assured fans that his love for basketball remains steadfast. “Now is the right time for me to hand over the reins and focus on my family, my personal interests, and some new challenges,” he stated, hinting at future endeavors beyond the sport that catapulted him to global fame.
Throughout his ownership, Jordan’s impact extended beyond the court. He highlighted the symbolic return of the Hornets’ name to Charlotte, a move that united the city’s basketball history and galvanized fan support. “I will never forget the excitement when we brought the Hornets name back to its rightful home in Charlotte, uniting the histories and fanbases of both the original Hornets and the Bobcats,” Jordan reminisced, emphasizing the significance of community feedback in the decision-making process.
While Jordan’s tenure as owner didn’t replicate the unparalleled success he achieved as a player—amassing six NBA championships and five MVP awards—his stewardship saw the Hornets achieve notable financial growth. Forbes currently values the team at $1.7 billion, a marked improvement from its valuation a decade ago, underscoring Jordan’s influence in boosting the franchise’s economic standing.
Despite on-court challenges, including limited playoff appearances and winning seasons, Jordan expressed pride in the organization’s accomplishments under his leadership. “Although we were not as successful on the court as I—and many of you—would have liked, I am proud of the things that we accomplished as an organization,” he affirmed, acknowledging the loyalty and dedication of Hornets fans through both triumphs and tribulations.
As Jordan transitions into a new role within the Hornets’ ownership structure, he reassured fans that his connection to North Carolina, Charlotte, and the Hornets will endure. “This is a Thank You, not a goodbye, because the state of North Carolina, the city of Charlotte, and the Hornets will always have a special place in my heart,” Jordan concluded, leaving a legacy of community pride and enduring basketball passion in his wake.
