*Michael Jordan is reportedly in talks to sell his majority share of the Charlotte Hornets, according to ESPN‘s Adrian Wojnarowski.
“No deal is imminent, but there’s significant momentum on a sale that would eventually install Plotkin and Schnall as the co-governors of the Hornets,” Wojnarowski wrote in a March 16 report, according to Rolling Out.
Jordan paid $275 million for a majority stake in the franchise when he took over from Bob Johnson in 2010. The team is now worth $1.7 billion, according to Forbes.
Jordan is a six-time NBA champion who is considered the richest retired athlete, according to the Forbes 2022 Billionaires List.
READ MORE: Michael Jordan’s Daughter Says He Could Have Been a Top NIL Earner During College Days
Most recently his daughter Jasmine Jordan said her father would be worth TRILLIONS had NIL deals been in place during his heyday as a student-athlete.
NIL stands for name, image, and likeness. NIL legislation allows college athletes to be paid for their autographs, their own branding and merchandise, promoting products, and appearing at events.
“Maybe that first Nike deal wouldn’t have been as low as it was,” Jasmine said of MJ’s contract with the footwear giant in an interview with Footwear News. “It would have changed the game. He would have potentially approached his contracts with Nike differently. Looking at his Funko Pop collectibles or the fact that people still wear his UNC jersey, to reap the benefits from it today, we’re talking making trillions at this point.”
Jasmine serves as the basketball field rep for women’s sports marketing at Jordan Brand, Black Enterprise reports. She is hoping to empower women athletes to take advantage of the new-age benefits of NIL deals.
“I’m constantly drilling that into young athletes because I never want an athlete to feel deceived. Also, NIL can really just be college. You don’t have to enter your pro years with a brand. That allows you to either focus solely on college or it allows for longevity entering the pro years,” Jordan continued.
“If done right, NIL can be beautiful. Starting with Kiki Rice and now Kiyomi [McMiller], I love what [the deals] can bring young high school athletes and beyond. My focus is [creating a roster with] a mixture of NIL plus the WNBA,” she added.
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