Michael Jordan recently sold a portion of the Charlotte Hornets – a team in the NBA – and it makes us wonder what this could mean for the Jordan Brand.
As some readers may know by now, Michael Jordan sold a portion of the Charlotte Hornets. Then again, a lot of our readers may not have even known that MJ owns a part of the NBA team to begin with, so let us take a little bit of time to break it down for a sec. So Michael Jordan is actually the chairman of the Hornets right now.
It is currently being reported that the greatest basketball player to ever play in the NBA is currently in the process of selling some of his stake within that team. Apparently, according to the Charlotte Observer, the former Chicago Bull is planning to sell parts of the team to Gabe Plotkin, a founder of Melvin Capital, Gabe Plotkin, the founder of DI Capital, Daniel Sundheim. Mind you, the NBA still have to finalize this deal before it is approved, but if it is, Sundheim will now be part-owners to the Hornets.
Mind you, again, the former NBA Champion will remain chairman of the Hornets and his not selling his majority stake, but the question remains. The question that has us talking about the politics of sports on a sneaker website to begin with – what does this mean for the Jordan Brand? What about the prestigious sneaker part of his empire?
Nothing. Absolutely nothing.
This does not hurt or help his Jordan Brand by any stretch of the imagination. All this does is make Jordan himself a little bit richer than he already is. If anything, the extra $130 million MJ is expected to get out of this deal might be used to strengthen his sneaker brand, but that’s not a guarantee.