There are a lot of professional sports players that choose to retire and then live off of what they made from their playing days. There is nothing wrong with that at all. However, other players choose to use that money to invest in other companies and seek out entrepreneur opportunities to further their wealth. That is exactly what Michael Jordan has done since leaving the NBA. Due to how many business opportunities he has pounced on he’s built himself quite the empire.
Does Michael Jordan Own Anything? Yes, Michael Jordan definitely owns quite a lot. The two most notable things that he has ownership of is the Charlotte Hornets NBA team and the Jordan Brand. He also owns his own golf course, Grove XXIII, car dealerships and seven restaurants. Jordan has found a way to take ownership of a few very large projects and he continues to make the most out of them.
Interested to see more details about everything Jordan currently has ownership of? Let’s try to cover them.
The Charlotte Hornets
When Michael Jordan decided to put some money into a professional basketball team, he chose the Charlotte Bobcats. He has been the owner for so long that the team’s name changed to the Charlotte Hornets. Jordan owns roughly 90 plus percent of the franchise at the moment. The decision to become the majority owner of the organization ended up coming at a perfect time. First of all, the NBA released a brand-new collective bargaining agreement the year after he took over. It dropped the players share of team revenue down from 57 percent all the way to 50 percent, a major change. Something called the Balmer Bump followed shortly after. This was when Steve Balmer dropped $2 billion in order to purchase the Los Angeles Clippers. This was so outstanding because no NBA team had ever gone for one-third of that price before. Finally, the NBA struck a new television deal with both TNT and ESPN to provide more revenue to the owners. All-around, the ownership has been ridiculously helpful in making Jordan some money over the years. He did end up selling about 20 percent of the team at some point within the last five years, though he is still very much the majority owner still. That 20 percent wound up getting him an additional $1.5 billion as both Gabe Plotkin and Daniel Sundheim threw themselves into the mix. Who knows where Jordan would be right now if it weren’t for the Hornets. They are definitely his biggest money maker at this stage of his life and could net him even more money down the line. The only thing that they are missing is serious championship success. The Hornets haven’t been a very great team in the last decade, but LaMelo Ball could end up changing that in the future.
The Jordan Brand
Michael Jordan took a leap back in his playing days of signing a shoe deal with Nike. That decision not only helped him tremendously during those days, but it has continued to help him out long after he has retired. After releasing a few shoes, he starting to create something called the Jordan Brand. This brand stretches from shoes, to clothing and even accessories like hats or backpacks. This brand has simply taken over the shoe game over the years and all of the creations under it continue to sell out at rapid paces. It isn’t always easy to just take over a shoe deal and turn yourself into a brand though. Jordan needed to have a major personality for this kind of thing while also performing to the best of his abilities on the court. The name just got around enough for the brand to really come to life. What’s even funnier about the Jordan Brand being created is that it almost never happened. He didn’t like Nike at all when he was going around looking for a shoe deal. They called and he almost skipped the meeting with them. However, his mother, Deloris, convinced him to at least hear them out and go to the interview. When he did, he wound up getting a massive deal from them and hence the Jordan Brand was born shortly after that.
Golf Course And Other Ownerships
Let’s tackle the Michael Jordan owned golf course before heading into some of the other ownerships that he has. The course is named The Grove XXIII. The roman numerals are obviously a nod to Michael Jordan’s professional basketball number of 23. It is located in Florida currently and required about four years to fully open up. Reportedly, there are less than 100 members of the club in order to get into the course and you can’t just sign up, you need an invite. There is a drone that flies around and brings down beverages throughout the day and it is roughly 15,000 in square feet. There is a pro shop and a dining room on top of the locker rooms and lounging areas that are set up. At the end of the day, this is one ridiculous golf course that Jordan owns. He doesn’t even use it primarily for revenue, he simply just wants to enjoy a few rounds of golf in his spare time. Now, moving onto a car dealership that Jordan has owned since the 1990s. This is a Nissan dealership that also has an online option called the ‘Fastbreak Store’. This option has upfront pricing and even home delivery when you live within 100 miles of the property. According to the staff that is in place there, Jordan has nicknamed them Team 23. Finally, Jordan owns approximately seven restaurants in the United States with one of them being a popular Steakhouse. From what some of the reviews have said, this restaurant is incredibly good. The rest vary from property to property and are all stationed in different locations.