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Does Michael Jordan Own The Wizards?

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Michael Jordan, referred to as MJ, is the name of a basketball legend. Basketball fans without knowing Michael Jordan is odd to exist. He has won six National Basketball Championship Sessions in his NBA career.

Like other celebrity fans, Michael Jordan’s fans have many questions in their mind, including does Michael Jordan own the Wizards?

Michael Jordan is no longer the owner of the Washington Wizards. However, once he had minor ownership in the following basketball team. But in 2022, Michael Jordan is the owner of an extraordinary NBA team named Charlotte Hornets and getting success in every step with this team.

Does Michael Jordan Own The Wizards
Michael Jordan/Source/Depositphotos

When Did Michael Jordan Own The Wizards?

In 2022, Michael Jordan does not have any share in the Washington Wizards basketball team. However, he was the vice-president of the team previously.

At the beginning of his career, Michael Jordan used to play for the Chicago Bulls. Moreover, all his achievements are with the team from Chicago. In 1999, after taking retirement from the Chicago Bulls, he came to Washington Wizards.

Eventually, in 2001, Michael Jordan became the vice president of operations of the Washington Wizards. Additionally, he had purchased a small share of the following basketball team and became a partial owner.

From 2001 to 2003, Michael Jordan worked with the Washington Wizards, but that was it. In 2003, he took retirement from the National Basketball Association as a professional player and operation in charge.

Why Did Michael Jordan Come To Wizards?

Michael Jordan was breaking records one after another while playing for the Chicago Bulls. Most of his achievements are related to the following basketball team. So, many people ask why did he leave the group? Let’s find out together.

In an interview in The New York Times, Michael Jordan said that he wanted to win championships more and more. He wanted equity. Michael Jordan also added that he desired to run the operations of basketball.

From the statement, it is clear that Michael Jordan is not satisfied with what he has achieved but wants more and more. This different personality may have made him the world’s most successful basketball player.

Related: Does Michael Jordan Have Instagram?

What Does Michael Jordan Own Now?

Michael Jordan paused his National Basketball Career in 2003. However, he never got himself disconnected from the NBA network. Currently, Michael Jordan is the owner of the Charlotte Hornets.

Charlotte Hornets is a famous American basketball football team. It is a Charlotte, North Carolina-based team known for playing in the NBA professionally. In 1988, George Shinn established Charlotte Hornets.

In 2004, the name was changed and turned to Charlotte Bobcats. However, the change did not last but returned to its previous name, Charlotte Hornets. Anyways, Michael Jordan was not always the owner of this basketball team. Charlotte Hornets’ previous owner was Robert L. Johnson.

How Many Teams Does Michael Jordan Own?

Currently, Michael Jordan owns only one team named Charlotte Hornets. In 2006, he entered the basketball team’s ownership group and became one of the owners. 

Charlotte Hornets is registered as a public limited company. In 2010, Michael Jordan purchased an estimated 97 percent of the total share of the group and became the primary owner. Now, he is in the position of owner and chairman of Charlotte Hornets.

Besides the basketball team, Michael Jordan has established an auto racing organization with Denny Hamlin named 23XL. The racing team participates in the National Association For Stock Car Auto Racing or NASCAR Cup series.

How Much Did Michael Jordan Buy The Hornets?

There are quite a few investments Michael Jordan did, and purchasing the Charlotte Hornets’ share is the most expensive one. In 2010, he officially became the owner and chairman of the basketball team after putting in a massive 275 million dollars.

Besides the basketball team share, there are some other expenses Michael Jordan did in his whole career, including

  • A luxury yacht (80 million dollars)
  • G550 Private Jet (61.5 million dollars)
  • Highland Mansion Park (21 million dollars)
  • Bears Club Home (20 million dollars)

Sources