Sports
Michael Jordan is divesting himself From Charlotte Hornet’s ownership.
Michael Jordan
Michael Jordan (AP) CHARLOTTE, N.C. The NBA’s 30 teams will have zero Black majority ownership when Michael Jordan completes an agreement to sell the bulk of his stake in the Charlotte Hornets, the organization announced on Friday.
Michael Jordan is selling to a consortium that includes Gabe Plotkin and Rick Schnall, according to the Hornets. Since 2019, Plotkin has held a minority share in the Hornets. Schnall is selling his stake as a minority owner in the Atlanta Hawks, a team he has had a stake in since 2015.
The length of time it will take for the NBA Board of Governors to finalize the selling process is unclear. Jordan bought the Hornets in 2010 for roughly $275 million, and he intends to maintain a minority position in the franchise.
After 13 years as CEO, Jordan has decided to sell the company.
While it’s excellent that one of our all-time greats, Michael Jordan, was able to become a team’s major governor, Silver indicated earlier this month at the NBA Finals that Jordan has the right to sell the franchise if he so chooses. According to him, “values have gone up a lot since he bought that team, so that is his decision.”
Silver also mentioned the need of ownership diversity in the same news conference at the championships.
Silver expressed a desire for “better representation in terms of principal governors,” saying, “I would love to have better representation.” It’s a commercial district. If the league were growing, it could devote more resources to this issue, but when it comes to trades between individual teams, “the market takes us where we are.”
However, ESPN reported, citing unnamed sources, that the franchise was being appraised at $3 billion. The most recent sale of an NBA team occurred in December, when Mat Ishbia purchased the Phoenix Suns for $4 billion.
Michael Jordan’s representative, Estee Portnoy, declined to comment on the sale.
Despite Michael Jordan’s stellar playing career (NC state champion, two-time Olympic gold medalist, six-time NBA champion, perennial candidate for greatest player of all-time), his Hornets teams were never championship contenders.
With him at the helm, Charlotte posted a 423-600 record over the course of 13 seasons, good for 26th best in the league. It hasn’t made the playoffs in the last seven years and has never won a postseason series during that span.
Several local Charlotte investors, including Amy Levine Dawson and Damian Mills, are also part of the new possible Hornets ownership group, pending permission. They join recording artist J. Cole, Dan Sundheim, Ian Loring, country music singer-songwriter Eric Church, Chris Shumway, and the rest of the group.
In addition to the Hornets, HSE is selling the Greensboro Swarm of the NBA G League and the Hornets Venom GT of the NBA 2K League, as well as the rights to manage and operate the Spectrum Centre.
The news that Michael Jordan, a native of Wilmington, North Carolina, had purchased the team’s majority stake made headlines throughout the world.
Michael Jordan was concerned about the Hornets’ poor performance. He initially hinted at wanting out of NBA ownership in 2020 when he sold a minority stake to Plotkin and Sundheim.
The Hornets have the second overall choice in the NBA draught after a 27-55 season marred by injuries. Assuming Victor Wembanyana goes first on Thursday night, Charlotte will have to decide between G League all-star guard Scoot Henderson and Alabama’s Brandon Miller as the second overall pick.
Charlotte boasts LaMelo Ball as its top player and several solid veterans to build around in Terry Rozier, Gordon Hayward, P.J. Washington, and especially last year’s promising rookie at centre, Mark Williams.
As an owner, Jordan took a lot of heat for failing to invest heavily enough in free agency to make the Hornets a contender.
The club he took over in 2010 had won 44 games the year before but were swept in the first round by the Orlando Magic.
From then, things started to worsen:
In Michael Jordan’s first season, the Bobcats of Charlotte went 34-48, and the following year they went 7-59, good for the worst record in the NBA. Charlotte’s terrible record wasn’t enough to get the top pick in the NBA draught lottery and secure the services of Anthony Davis.
In 2013–14, Charlotte returned to the postseason, but this time they were swept by the Miami Heat. Two years later, despite having a better record (48 wins) than the Heat (44 losses), the Hornets were eliminated in the first round once again.
Since then, Jordan’s Hornets have only had one winning season and twice have been eliminated from the play-in tournament at the 10 seed level.
Charlotte has never won an NBA title and hasn’t even won a playoff series since the 2001-02 season.
Cristiano Ronaldo
There was a lot of buzz and expectation for Cristiano Ronaldo’s arrival at Al Nassr in Saudi Arabia. According to goal.com, as the season winds down, the club has fallen short of the league title, prompting speculation about Ronaldo’s influence.
Al Nassr was leading the Saudi Pro League in January, when Ronaldo signed with the team. However, in a surprising reversal of events, Al-Ittihad triumphed while Al Nassr finished in second place. They’re five points back with a single game to play.
During his time in Saudi Arabia, Cristiano Ronaldo has impressed on the field and caused waves of controversy. Despite displaying his hallmark abilities and goal-scoring ability by scoring 14 goals in 19 appearances, his behavior on the field has raised questions. Ronaldo’s volcanic nature has been on display, from violent outbursts to confrontations with opponents and members of his own bench.
There are questions as to whether Cristiano Ronaldo has supplied enough answers to help Al Nassr win the league title, despite his individual achievements and the increase in the club’s social media following. Some have argued that the club could have been better served by signing a different player, citing examples like Lionel Messi.
Since Cristiano Ronaldo has had such a positive effect on the club’s profile and popularity, Al Nassr is eager to keep him on board until the end of his contract in 2025. Ronaldo’s drive and ambition have always led to speculation about a return to Europe, and those qualities haven’t changed.
Although Ronaldo cannot be held personally responsible for Al Nassr’s failure to win the title, he has clearly fallen short in his efforts to address the club’s problems. Ronaldo’s time at Al Nassr will be remembered as a period of mixed performances and controversy, regardless of whether he stays in Saudi Arabia or seeks a new challenge in Europe.
Although Cristiano Ronaldo cannot be held personally responsible for Al Nassr’s failure to win the title, he has clearly fallen short in his efforts to address the club’s problems. Ronaldo’s time at Al Nassr will be remembered as a period of mixed performances and controversy, regardless of whether he stays in Saudi Arabia or seeks a new challenge in Europe.
Cristiano Ronaldo Life:
Cristiano Ronaldo, born on February 5, 1985, in Funchal, Madeira, Portugal, is a world-renowned professional soccer player. His journey to becoming one of the greatest footballers of all time is truly inspiring. Ronaldo’s passion for the sport was evident from a young age, and he joined the youth team of the Portuguese club Andorinha at the age of just eight. His extraordinary talent quickly caught the attention of Sporting Lisbon, one of Portugal’s top clubs, where he signed his first professional contract at the age of 12.
Ronaldo’s exceptional skills on the pitch continued to flourish, and his breakthrough came in 2003 when he signed with Manchester United, one of the most prestigious clubs in English football. During his six years at Manchester United, Ronaldo established himself as a force to be reckoned with. His pace, skill, and incredible goal-scoring ability propelled the team to numerous victories, including three English Premier League titles and a UEFA Champions League triumph in 2008. Ronaldo’s individual achievements were equally remarkable, as he won the FIFA World Player of the Year award in 2008 and 2009, solidifying his status as one of the world’s elite players.
In 2009, he made a high-profile move to Real Madrid, where he continued to set records and rewrite history. His time with Real Madrid was marked by extraordinary success, as he helped the club win four Champions League titles and became their all-time leading goal scorer. In 2018, Ronaldo joined Juventus in Italy and continued to showcase his prowess on the field, contributing significantly to the team’s domestic triumphs.
Off the pitch, Ronaldo is known for his philanthropic endeavors. He has been involved in numerous charitable initiatives, including donating significant amounts of money to support children’s hospitals, cancer research, and disaster relief efforts. Ronaldo’s commitment to excellence, dedication to his craft, and relentless pursuit of success have made him an inspiration to aspiring athletes worldwide. His impact on the game of soccer, both as a player and as a role model, is immeasurable, and his legacy as one of the greatest players in the history of the sport is firmly established.
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