Michael Jordan Ownership Deal

Lore & Background

The Charlotte Hornets franchise was established in 1988 as an expansion team owned by George Shinn. In 2002, Shinn moved the franchise to New Orleans, where they began play as the New Orleans Hornets, later rebranding as the Pelicans in 2013. The team would return as an expansion team, known as the Charlotte Bobcats, in the 2004–05 NBA season. On June 15, 2006, Michael Jordan, a former NBA player and member of the Naismith Basketball Hall of Fame, acquired a minority stake in the franchise and became its managing member of basketball operations. On February 17, 2010, an ownership group led by Jordan purchased a majority share of the franchise. In 2013, following the rebranding of the New Orleans Hornets to the Pelicans, the Bobcats announced they would begin playing as the Charlotte Hornets in the 2014–15 season, along with reclaiming the history and official records of the original Charlotte Hornets, statistically making the Hornets one continuous NBA team. In August 2023, Jordan sold his majority stake in the Hornets to a group of investors led by Gabe Plotkin and Rick Schnall. He retained a minority share in the ownership of the team.

In Their Own Story

The lights of Spectrum Center hummed with a familiar energy as Michael Jordan walked through the tunnel, his eyes scanning the hardwood court one last time before the season opener. The roar of the crowd was different now—not just for a player, but for an owner who had come home. He paused at center court, touching the paint where he once dominated, feeling the weight of history and hope in equal measure.

Reader's Guide

The Hornets' first NBA game took place on November 4, 1988 at the Charlotte Coliseum, where they lost 133–93 to the Cleveland Cavaliers. Four days later, the team notched its first-ever victory over the Los Angeles Clippers, 117–105. On December 23, 1988, the Hornets beat Michael Jordan and the Chicago Bulls 103–101 in Jordan's first return to North Carolina as a professional. The Hornets finished their inaugural season with a record of 20–62. The team showed improvement during the following seasons, drafting Larry Johnson in 1991 and Alonzo Mourning in 1992. The Hornets finished their fifth season at 44–38, their first-ever winning record and good enough for the first playoff berth in franchise history. Finishing fifth in the Eastern Conference, the Hornets upset the Boston Celtics in the first round, but fell to the New York Knicks in the second round. In the 1994–95 season, the Hornets finished with a 50–32 record, returning to the playoffs, but were bounced in the first round by the Chicago Bulls. Following the season, the Hornets traded Mourning to the Miami Heat for Glen Rice, Matt Geiger, and Khalid Reeves. The 1996–97 team achieved the best season in its history at the time, finishing 54–28, but lost to the Knicks in the first round.

Did You Know?

• The Hornets are the only NBA franchise to have never won a division title as of 2026.
• The Hornets are one of two franchises alongside the New Orleans Pelicans to have never advanced to the conference finals as of 2026.
• The team's name originates from British General Cornwallis, who allegedly described Charlotte as 'a hornet's nest of rebellion' following the Battle of Charlotte in 1780.
• The Hornets led the NBA in attendance in their inaugural season, a feat they would achieve seven more times in Charlotte.