Michael Jordan Selling His Stakes in the Charlotte Hornets

Michael Jordan selling his stakes in the Charlotte Hornets is not something we foresaw, but may just prove to be another smart move by the NBA legend. Every bookie who uses a sportsbook pay per head service knows how even the ownership of teams can affect the said teams’ performance and outcome. So this news is noteworthy for those in the industry. What are the effects of Jordan selling his shares?

Jordan will not be totally leaving the Hornets. So, if you wonder if loss of confidence in the team is the reason why he is leaving, then that is not the case. He will keep a minority share. Meanwhile, the majority will go to a group led by Gabe Plotkin and Rich Schnall. Plotkin is not an unfamiliar name for the Hornets, as he has been a minority shareholder since 2019. Meanwhile, Schnall has been a minority owner of the Atlanta Hawks since 2015, and will be selling his shares there before joining the Hornets.

Those who use sports betting software will be pleased to know that while this may affect betting lines for the next season, your software provider will be moving the lines based on the market, so there will be no additional work on your part.

Michael Jordan Selling His Stakes in the Charlotte Hornets

The sale process needs to go through the NBA Board of Governors, of course. And if the Board approves, then maybe new ownership can bring about a change of fresh air. Perhaps even change the fortune of the Hornets. The price of the sale of the franchise has not been disclosed yet. But experts are looking at around $3 billion. The most recent sale of an NBA team was when Mat Ishbia bought the Phoenix Suns, and the franchise was then valued at $4 billion.

The Hornets have never won a championship title in the 13 years that Jordan owned the franchise. They have not even been able to enter the playoffs in the past seven seasons. We will see what will happen in the offseason. And we’ll see if the probability of the Hornets performing better next season will increase. We can only prepare for the next season- these gambling reviews will be of great help to those looking for bookie software.

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