Michael Jordan Sells The Hornets for $3 Billion! - podcast episode cover

Michael Jordan Sells The Hornets for $3 Billion!

Jun 26, 202314 min
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Episode description

In this video, we dive into the blockbuster deal where NBA legend Michael Jordan has just sold the Charlotte Hornets for a jaw-dropping $3 billion! We'll explore how His Airness, who initially became the majority owner in 2010, turned the franchise around and why he decided to sell it now. 


What to expect in this video:

- A brief history of the Charlotte Hornets under Michael Jordan's ownership

- Insider info on the sale and who the new owners are

- The financial breakdown of the $3 billion deal

- How this sale compares to other NBA team sales in history

- Michael Jordan’s impact on the team and his legacy as an owner

- Reactions from fans, players, and other NBA owners


Stay tuned till the end for expert analysis on what this might mean for the future of the Charlotte Hornets and the NBA as a whole. Whether you're a basketball fan or interested in sports business, this is a must-watch!


Don't forget to like, comment your thoughts, and subscribe for the latest in sports news and analysis!


#MichaelJordan #CharlotteHornets #NBA #BillionDollarDeal


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Transcript

Speaker 1

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 2

Sponsored by the United States Department of Homeland Security.

Speaker 3

Michael Michael, Jeffrey, Billy Got Man. Billy got so many different things. Man you know has done so much as far as culture, sports, business, you know, just an iconic person all the way around. So he purchased the Charlotte Bobcats. Yes, at the time, they were called the Charlotte Bobcats. Twenty ten and they were called the Charlotte Bobcats because Rob Johnson, Bob Johnson, the owner, former owner of BT who shot

to Tyler Perry. He just purchased BT. He named the team and then they renamed it to the Charlotte Hornets. They named it because after him. That's what I'm saying. His name, his name is Bob. Name the Bobcats, and then you know, they bought it. They changed it to the Charlotte.

Speaker 4

Which was an existent franchise in New Orleans but originally started Charlotte.

Speaker 3

And that hasn't really worked out. They haven't really been too good at all. They had a few good years with Kimba was there the.

Speaker 4

Early years with Jerald Willa's Stephen Jackson. They made the playoffs, but it's been downhill. The great investment for him though.

Speaker 3

Yeah, But so he brought the team for one hundred and eighty and sold it sold for three billion. Now he doesn't get all three billion because he wasn't the only owner in it, but he was majority owner. So he's gonna walk away with a nice paycheck.

Speaker 2

Yeah, so just really quick.

Speaker 4

So people understand that he bought sixty five percent majority state from Bob Johnson in twenty ten, right, so that was one hundred and eighty million dollars investment. Now the reports are saying that it's sold for three billion, so right, he doesn't get three billion, right, he owned sixty five percent of that, But then in twenty nineteen he also sold shares of it. So let's say it got diluted down to sixty percent. Even with this sale, he's still

going to be a minority owner owner. It's just not a just gave up his majority stake. So let's say he sold fifty percent of it. Let's say he kept a ten percent steak ten percent, so that means he has a He let go of forty percent of his ownership, forty percent of.

Speaker 2

Three billion till one point two. That's a hell of a win's that's one point fourteen.

Speaker 5

Like you we were talking about like not in the major city and to get this kind of return in a few years, I mean we talked about it a couple of weeks ago. But Gabe a kudos to him, ploking. He's a huge venture Capital guy. But also like Jake Colet ends up being a minority. That's that's the dope part of it.

Speaker 4

And I was like, this, amazing, that's the dope part of shark gresson North Carolina guy. But that's one hundred and eighty million dollars that'stment in twenty ten is now worth one point two billion in twenty twenty three.

Speaker 2

The power of a.

Speaker 5

Long term holder, that's the only thing I thought. It was, like, the longer you hold any asset class, the higher the yield it's going to be, especially when you factor inflation. Like imagine if you were the own part of the Lakers with the exit would have been.

Speaker 3

But then also, we live in a world where everything goes up. So you have one barrel apartment in Manhattan selling for one point three million dollars, like you know what I mean. So it's like buy real estate, is going to go up, by good stocks, is going to go up, by a sports franchise. It's going to go buy something that has value, and it's going to go up. And you know, some things go up higher than others.

But that's just you know, in the simplest sixth grade explanation, buy good investments over the course of time, hold them and you will be able to sell out a profit.

Speaker 4

Yeah, And there's a difference between the investment and the performance of the team. Right, So people look like they've never been good will people go into games? But were people watching the NBA where the TV rights deals going up during that time? Right, So when they talk about profit sharing, that goes to all the teams. Right, and we're talking about licensing deals. Anytime you know, Jordan's involved with something, I mean alone, his name alone is strong.

But this is this is one of those those times it's like wow.

Speaker 3

But then also this goes back to the real estate situation where your neighborhood is more important than the actual house a lot of times, because like, you can have the best house, but if it's in a bad neighborhood,

the appreciation is not going to be that much. You can have a decent home and never really do anything to it, but if it's in a great neighborhood, then the house is just valuable just because like the worst home in Beverly Hills costs more than the best home in a middle class neighborhood, even if it's not even a good home, because where it's at somebody will just

tear it down just for the land. So it's like the same thing with the NBA, Like it doesn't matter NBA NFL what Yeah, just because you're in a league that has such value and it's going up over the course of time. You have the worst team, your team is still valuable.

Speaker 4

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Speaker 2

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Speaker 1

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from El Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christine Nohm, the United States

Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest level ever recorded, and over one hundred thousand illegal aliens have been arrested. If you were here illegally, your next you will be fine nearly one thousand dollars a day, imprisoned and deported, you will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally. Do what's right.

Speaker 3

Leave now.

Speaker 1

Under President Trump, America's laws, border and families.

Speaker 2

Will be protected. Sponsored by the United States Department of Homeland Security.

Speaker 4

It's why the Knicks are the number two most valuable team. They haven't because where are they located? Where did they play? They play in the middle of Manhattan, they play in New York City. I mean it's prominently and you know, massive square garden he holds.

Speaker 2

What would he get for it?

Speaker 4

I mean if Charlie so for three billion, and I think the number one evaluated team right now is Golden State and that's because of the recent history of winning. Is that like I think seven billion or six maybe six billion. I mean, if they ever for New York for the next is I'm thinking we're going double digits. I think we're going double It's got to be over ten today. Yeah, over ten for sale. Okay, the Sun sold last season for four billion.

Speaker 2

It's a good point.

Speaker 4

So right, Lakers, you put a couple franchises in there, Lakers would be up there. Knicks Celtics maybe, uh, definitely the Lakers and the Knicks. I think double digit billion valuation.

Speaker 5

And the reason why we're talking about this it's really important to know the evaluation of everything. Like the first time I went to F one, and I've now been watching the Racist, there are some money and those like.

Speaker 2

Wait, the car costs how much?

Speaker 5

And their pit crew a certain amount of millions, like I was playing Hitman le Xander, like last year. That was the first time I ever knew about F one. So to then go and see the business behind it, Like once you understand the evaluations of these teams, now they're looking a hole for the same team cycle.

Speaker 4

It's the reason why you see people fighting to get an NBA team in Las Vegas. Yeah, it's the reason why you see somebody trying to bring a franchise back to Seattle. Like Stan Hanky, who just won a championship with the Nuggets. That's great, but that's his NBA team. You know who His NFL team is, the La rent Right, he won a Super Bowl with them a couple of years ago. Just won an NBA championship right in Denver. And now he's looking at like what other sports league

he owns? The Colorado Avalanche. They've won a Stanley Cup over the past ten years, and so he's taking care. He's just not looking at it like, wait, I have a franchise in Denver, let me stay in Denver. He's looking at it like where's the best place for me

to own a franchise. Now his next thing they're saying is like he's looking to bring football back to San Diego or bring an NBA team to San Diego, a great sports town that lost the Chargers, right, they haven't had a professional basketball team maybe ever.

Speaker 2

And so they're looking at these cities.

Speaker 4

Seattle is another city to have basketball history, how do we get it back? And so now having franchises in different cities and different sports. This is bigger than just like, hey, I'm fan of the team. Now, this is a business transactions business behind that. And these same people that are investing in owning these teams. Homework assignment number two, go do some research on them to see what their investment

philosophy is. Because if he was able to win titles in multiple sports, there's a philosophy that he has on ownership and turning the team around.

Speaker 2

Please gonna study that.

Speaker 5

To help you in your investment journey so you can print more games in the market.

Speaker 3

But James Dolan, and he's probably one of the best in business that we've ever seen because the Knicks, the Rangers, but Madison Square Garden owns Square Garden. Yeah, So I mean, you can say what you want about him, but my commentation is only the next not No, I'm just saying a lot of people, you know, they a lot of people don't like James Dolan. But I'm just saying, Madison Square Guarden, can you even put a price tag on that?

The world's most famous, right, I'm just saying, like if you just had, like you know, it's like Madison Square Garden is such an iconic that's the nu.

Speaker 4

He's making money when the Knicks don't play, and he's making money when the Rangers don't play because when they're not playing, there's a concertent.

Speaker 5

I couldn't get into that Hairstyles concert to save my life.

Speaker 3

He's the CEO of MSG. Yeah, he's the owner of the Knicks, the owner of the Rangers. So yeah, I mean he could do nothing else for the rest of his life and just and just be super good just off of that alone, that that one building, just that one building.

Speaker 2

Yeah, he got everything.

Speaker 4

Even inside of that building, that structure, you got penstation that that translates into another vertical right. It's it's a like you said, it's publicly trade. I don't even think people really know that, but yes, it's publicly traded. So he's gonna make money regards which is kind of why people to test him, because it's like he doesn't if they win.

Speaker 2

Or not, it doesn't don't matter exactly does Dicks fans.

Speaker 4

I know it sucks and shout out to the Dix fans, But he's gonna make money regardless.

Speaker 3

My graduates from my school being forced back drop drop Mike drop back drop drop.

Speaker 1

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy Noman, the United States

Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fined nearly one thousand dollars a day, imprisoned, and deported. You will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally.

Do what's right. Leave now. Under President Trump, America's laws, border and families will be protected.

Speaker 2

Sponsored by the United States Department of Homeland Security,

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