The NBA’s Board of Governor’s has officially approved the bit of business that was reported on a little over a month ago. Michael Jordan has sold the Charlotte Hornets to a group of investors led by Gabe Plotkin and Rick Schnall.
It’s not surprising news. We all knew this was coming and most people probably already thought everything was already solidified with the deal. This was the last bit of real business required before the sale could become official, so now all that’s left is some final paperwork. Michael Jordan originally bought a majority share in the franchise for $275 million, so he’s making off with a pretty profit.
The only minor bit of intrigue with the vote is the fact that it wasn’t unanimous. The final vote was 29 in favor and 1 opposed. The one nay vote was from New York Knicks owner James Dolan, who just seems like one of those guys that does annoying things for no other reason than to be a bother. No reason has been given as to why he voted to not approve the sale.
With that, the era of Michael Jordan ownership has come to a close. It wasn’t a successful tenure, but it was still worlds better than the ownership before. Plotkin and Schnall will try to take the franchise to the next level. We don’t really have any resume we can look at to guess at how they’ll be as owners, so we’ll have to just sit back and enjoy the ride.