NBA legend Michael Jordan's transition from court to front office yielded massive profits but left a legacy of botched draft picks and zero postseason series victories for the Charlotte Hornets.
Michael Jordan never had the same success as the owner of the Charlotte Hornets as he had as a player with the Chicago Bulls.
Jordan became the majority owner of the Hornets in 2010, keeping the team until he sold it in 2024. Charlotte went 423-600 during his time as majority owner, making the playoffs twice but winning no postseason series.
Jordan did win in one department: profits. He bought the team for less than $1 billion and sold it for $3 billion. Not a bad investment for 13 years.
Keith Jenkins of ESPN recently listed the 10 NBA teams without a Finals trophy in their building. Jenkins argued that Jordan's tenure with the Hornets put the team behind because of the way he attacked the draft.
"Michael Jordan and the Chicago Bulls eliminated the Hornets in the Eastern Conference semifinals in 1998 on their way to winning their sixth NBA title in eight seasons," Jenkins wrote. "While Jordan was one of the greatest winners in NBA history as a player, he failed to get it done as the owner in Charlotte.
"Jordan sold his majority stake in the Hornets in 2023, but his string of bad draft selections before then - Emeka Okafor, Adam Morrison, Michael-Kidd Gilchrist and Cody Zeller were all top-10 picks - kept the Hornets from making deep postseason runs."
The Hornets are starting to build the program back up. With LaMelo Ball, Charlotte made the Play-In Tournament before being embarrassed by the Orlando Magic.
The Hornets need to add much more talent tif they want to win a playoff series, though there is some hope around Ball and Kon Knueppel.
Following his sale of majority ownership, Jordan argued he was proud of what he did with the Hornets.
“I’m proud of all that the organization accomplished: the exciting on-court moments, the return of the Hornets name, Charlotte hosting the 2019 NBA All-Star Game and HSE (Hornets Sports and Entertainment) becoming a true pillar of this community,” Jordan said, via the NBA. “Through the years, the unwavering commitment, passion and loyalty of our Hornets fans has been incredible...
"I know the Hornets organization is in great hands moving forward. I’m excited about the future of the team and will continue to support the organization and the community in my new role in the years ahead.”
13 years is a long time to own a team and not win a playoff series. Frankly, some of the Hornets teams under Jordan resemble what the Bulls look like under Jerry Reinsdorf since Jordan retired as a player.