Michael Jordan’s $3B Hornets sale turned heads, but his exit was solid

Michael Jordan didn’t just walk away—he passed the torch with purpose.

When MJ finalized the $3 billion sale of his majority stake in the Charlotte Hornets in 2023, fans saw it as the end of a chapter. But behind the scenes, Jordan was already scripting the next. After 13 years, 423 wins, and zero playoff series victories, His Airness didn’t just want to cash out—he wanted to make sure North Carolina still had a voice in the franchise’s future.

Before the ink dried, Jordan made a personal trip to Nashville to meet with longtime friend and country star Eric Church. It wasn’t just a friendly golf outing. “He was selling his stake and wanted some local people from North Carolina that would represent a percentage of the Hornets,” Church said on The Steam Room podcast. A Tar Heel himself, Church became a minority owner—part of Jordan’s quiet effort to keep Charlotte rooted in Carolina pride.

Church didn’t just buy in for status. He bought into a blueprint. “You kind of have a three-to-five-year plan,” he told Bobby Bones, pointing to a strategy focused on draft picks and arena upgrades. With the Hornets facing the NBA’s longest active playoff drought (nine seasons), the new ownership has invested in a $245 million Spectrum Center renovation and is eyeing the 2025 NBA Draft, where they have a 14% chance at the No. 1 pick.

Even after stepping away from majority control, Jordan retained a minority interest in the team. That move keeps him involved while allowing co-owners Gabe Plotkin and Rick Schnall to take the reins. It also means his influence continues—both in the front office and in choosing the people who carry his vision forward.

Hornets fans, take notice: Jordan didn’t just sell. He set the stage for a rebuild rooted in Carolina grit and long overdue success.