Michael Jordan speaks out after $3 BILLION Charlotte Hornets sale: ‘My love for basketball remains strong… this is not goodbye’
- Michael Jordan’s sale of the Charlotte Hornets was confirmed earlier this week
- The 60-year-old has now written to the team’s fans as part of his farewell
- DailyMail.com provides all the latest international sports news
Michael Jordan has written an emotional open letter to Charlotte Hornets fans after selling his majority stake in the team for $3 billion.
Jordan, 60, said it’s time for him to focus on other interests in his life, but insists his love of basketball remains undiminished.
“Now is the right time for me to hand over the reins and focus on my family, my personal interests and some new challenges,” said Jordan. “I am excited to see what the future holds, and look forward to supporting the team and community in my new role for many years to come.
“This is a thank you, not a goodbye, because the state of North Carolina, the city of Charlotte and the Hornets will always hold a special place in my heart.”
The Basketball Hall of Famer retains a minority interest in the team, while former minority owner Gabe Plotkin joins Rick Schnall at the top of the club’s new ownership hierarchy.
Michael Jordan has addressed Charlotte Hornets fans after selling the team for $3 billion
Jordan, 60, spoke of his pride in owning the Hornets for 13 years
The sale ends Jordan’s 13-year run as majority owner and leaves the NBA without African-American team governors.
“Thirteen years ago I had the honor of becoming the majority owner of the Charlotte Hornets. The opportunity to own the NBA franchise in my home state and a city I love was truly a dream come true,” Jordan wrote.
“With Gabe Plotkin and Rick Schnall, and their ownership group, now taking majority ownership of the team and me moving to a minority shareholding position, I want to thank the Hornets fans for all the love and dedication you have shown. the franchise and for me over the years.
“We’ve had some unforgettable moments together, but also some challenging ones, but through it all you’ve remained committed to us.
“While we weren’t as successful on the track as I – and many of you – would have liked, I am proud of the things we have achieved as an organization.
“I will never forget the excitement as we returned the Hornets name to its rightful home in Charlotte, uniting the history and fan bases of both the original Hornets and the Bobcats.
“Our fans told us how important this was, and the amazing level of support and enthusiasm proved their point.”
The Hornets are currently valued at $1.7 billion by Forbes – 27th among NBA teams, and an improvement of $1.3 billion over the past decade.
Jordan now gets a minority stake in the team, but steps down as main owner
But the success Jordan enjoyed with more than six NBA championships and five MVP honors has not translated into success as an owner. Charlotte has been one of the worst performing teams in the league during his time in charge.
Aside from the name change from the Bobcats to the Hornets in 2015, Jordan’s tenure as Hornets owner has been anything but memorable.
Charlotte has enjoyed just three winning seasons and just two playoff berths since Jordan became a majority owner.
“Together, we’ve made our community proud, creating countless unforgettable memories for families and friends who cheered us on and helped those in need,” Jordan said.
“This is a thank you, not a goodbye, because the state of North Carolina, the city of Charlotte and the Hornets will always hold a special place in my heart.”