Michael Jordan: Failed owner or silent business genius?
In a recent Instagram Reel, he sent a direct message: those who labeled Michael Jordan a bad owner “knew nothing about business.”
Jordan purchased the then-Bobcats in 2010 for $275 million, at a time when the franchise was seen as a declining project.
With annual losses and a market considered “small,” Charlotte seemed destined to remain in obscurity.
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But Jordan looked beyond the scoreboard: he focused not on racking up playoff wins, but on building a strategic position within the NBA ecosystem.
Time proved him right. In 2023, he sold his stake in the Hornets for $3 billion, securing over $2 billion in profits.
This move boosted his personal fortune to $3.5 billion and elevated him even higher on Forbes’ billionaire list.
The lesson of a “different kind of owner”
Williams summarizes it clearly, “Michael Jordan didn’t buy rings; he bought position.” While other owners absorbed massive losses to surround themselves with stars, Jordan played a different game.
Most franchises operate on the financial edge, with hidden costs ranging from luxury taxes to elite medical teams for superstars. Every early playoff exit represents millions with no return.
In contrast, Michael Jordan understood the business like few others. He capitalized on an underestimated market, held it long enough, and exponentially increased its value, even before the 2023 collective bargaining agreement took effect, which made spending on superstars more restrictive.
What many saw as a “scandalous” tenure can actually be viewed as one of the smartest business moves in recent NBA history. Jordan not only knew when to enter but also when to exit.
