Michael Jordan’s big score: why his NBA ownership tenure is far from a failure

I t used to be that only the truly exceptional were called “the Michael Jordan of” their particular arena: of acting (Viola Davis), of fibbing (George Santos), of the Democratic party (Barack Obama). “They know what you’re talking about,” Obama said before bestowing the Chicago Bulls legend with the Presidential Medal of Freedom, “because Michael Jordan is the Michael Jordan of greatness.” And now he’s poised to win another title: the Michael Jordan of dealmakers.

Last week came news that the six-time NBA champion was in serious talks about selling a portion of his majority stake in the Charlotte Hornets. This comes four years after he sold a slice of the franchise to a group led by the venture capitalist Gabe Plotkin – the Michael Jordan of short-selling, according to some. It’s unclear whether Jordan is trying to bring in investment, or whether he wants to cash out of the league entirely. In the latter case, his take would be an 80% slice of a pie valued at more than $1bn. As investments go, it’s nothing but net.

But it isn’t just the money that makes this a big deal. For the better part of two decades the Chicago Bulls great has been the Michael Jordan of front office executives, exceptional by virtue of being the only Black majority team owner in America’s big four sports leagues. A divestment may leave him better off, but a larger movement toward diversity, inclusion and fair play will be poorer in the end.

All of which is to say: this isn’t a case of one bored rich guy selling to another who’s never known the thrill of victory. This is for higher stakes. There’s so much to consider – from what it means for North Carolina’s most prominent professional franchise to lose its favorite son as a steward, to whether the