Meanwhile, over social media, several NASCAR fans could not stop throwing out rather wild conspiracy theories regarding the sale. This is perhaps because of Jordan’s involvement in the stock car racing world, and his choice of preference as an owner to keep his NASCAR team but planning to sell the Hornets after not being able to make it into the playoffs.
In fact, throughout his 13-year-long ownership of the team, the Hornets had only made it to the playoffs twice, but only to be knocked out in the first round.
Michael Jordan plans on NBA team ownership exit
Senior NBA journalist Adrian Wojnarowski recently announced Jordan’s news over Twitter. Meanwhile, there was no official number on the sale value. But as per NBA’s official website, the team was estimated to be valued at $3 Billion.
Pending the NBA’s Board of Governors’ approval, the exact timeline of the transfer remains uncertain. Jordan, who originally purchased the Hornets in 2010 for approximately $275 million, plans to hold onto a small stake in the team. Concurrently, Schnall is actively divesting his shares in the Hawks.
Interestingly, Plotkin and Schnall’s consortium to purchase the team will also see the addition of renowned rapper, J. Cole and country musician, Eric Church.
NASCAR fans indulge in conspiracies after Jordan’s announcement
Social media went abuzz with wild theories left and right after the news of Jordan’s intent to sell the team came to light. NASCAR fans speculated that Jordan probably was more interested in NASCAR than the NBA. Adding claims that the former Chicago Bulls legend might prefer the supposed higher payout in NASCAR.
The news of Jordan relinquishing his NBA ownership, especially given the Hornets’ underperformance, is certainly intriguing. Coupled with the less-than-stellar performances but performances which are showing promise each week of his NASCAR team, 23XI Racing, questions about Jordan’s future commitments might emerge. Although no news currently surrounds his NASCAR team, the fan theories about Jordan shifting his attention from the NBA to NASCAR could potentially hold some merit.
Still, only time will tell about his commitments to his NASCAR ownership.