{"id":14835,"date":"2018-02-09T06:47:46","date_gmt":"2018-02-09T12:47:46","guid":{"rendered":"http:\/\/myboysay.com\/blog\/?p=14835"},"modified":"2018-02-09T06:47:46","modified_gmt":"2018-02-09T12:47:46","slug":"huge-roi-for-mj-charlotte-hornets-franchise-value-tops-1-billion-yes-michael-jordans-charlotte-hornets-business-profits-are-huge-per-forbes","status":"publish","type":"post","link":"https:\/\/myboysay.com\/blog\/?p=14835","title":{"rendered":"Huge ROI for MJ: Charlotte Hornets’ Franchise Value Tops $1 Billion, Yes, Michael Jordan\u2019s Charlotte Hornets Business Profits Are Huge, Per Forbes"},"content":{"rendered":"
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\"\"In less than a decade, Michael Jordan’s NBA team has gone from debt-riddled to consistently profitable, helped by revenue-sharing and increased interest from fans and sponsors.<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Based on Forbes\u2019 most recent NBA valuation estimate, Michael Jordan has made a huge paper profit on his original purchase of the Charlotte Hornets.<\/span><\/span><\/strong><\/p>\n

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If Forbes\u2019 annual NBA franchise valuations are at all accurate, Charlotte Hornets majority owner Michael Jordan is on track to quadruple his investment since 2010.<\/strong><\/p>\n

Forbes estimates the Hornets <\/a>are worth $1.05 billion in a story published this week. While that ranks only 28th among the 30 NBA franchises, it\u2019s a 35 percent rise in the franchise\u2019s value in 2017. Jordan owns the vast majority of the Hornets, after acquiring majority control from founding owner Bob Johnson of the then-Charlotte Bobcats in March 2010<\/a>.<\/strong><\/p>\n

\"\"According to an NBA source familiar with the terms of Johnson\u2019s deal with Jordan, it was based on a franchise value of $287 million. That same source said Jordan\u2019s upfront cash outlay was approximately $30 million. Most of Jordan\u2019s financial responsibility was assuming debt Johnson took on in the start-up cost of the expansion franchise in 2004.<\/strong><\/p>\n

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Forbes\u2019 estimate suggests the Hornets had operating income of $21 million in 2017, on revenues of $202 million. Forbes noted the Hornets have approximately 11,000 season-ticket holders and have recent advertising deals on their uniforms <\/span>with LendingTree<\/a> and Jordan Brand.<\/span><\/strong><\/div>\n<\/div>\n
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MORE ON THE “GOAT” OF BASKETBALL\u00a0<\/strong><\/strong>@Jumpman23<\/b><\/a><\/span>, MICHAEL JORDAN:<\/strong><\/p>\n

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\n\"\"MJ is about to have his own spot to take on the world’s best in Hobe Sound, Florida.<\/span><\/span><\/strong><\/div>\n<\/div>\n
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Michael Jordan is many things to many people: the greatest basketball player of all time, a business and NBA team owner, and a golf enthusiast. And now those passions are about to intersect as Jordan builds his first golf course, dubbed Grove XXIII. The course will be built in Hobe Sound, Florida, which is just north of West Palm Beach, and it will reportedly open in 2019.<\/strong><\/p>\n

Bobby Weed is designing it, and he recently noted some of its uniqueness in a release<\/a>.<\/strong><\/p>\n

(The course will be) routed with the south Florida trade winds in mind. The two nines wrap around each other while traversing the site in opposing directions. This dynamic layout ensures that golfers will feel the breeze from every quarter.<\/strong><\/p>\n

Weed describes the design process, and creating “a course for tomorrow, with a refined edge.” He added, “knowing the caliber of the membership and Michael’s passion for golf, we are designing a forward-thinking, progressive layout.”<\/strong><\/p><\/blockquote>\n

Jordan, who is the majority (but not sole) investor, is apparently intimately involved with the project as the two move forward to make something special. According to Golfweek<\/a>, MJ is making weekly visits.<\/strong><\/p>\n

Weed, who has never been shy to move ground to create playable space, says the near flat site is getting a lot of earthwork. He’s also impressed with the way Jordan has thrown himself into the project, including weekly onsite visits. Not all owner\/developers are able to figure out what’s going on with bare ground. But his Airness is proving the exception, says Weed. “He can see it in the dirt.”\u00a0<\/strong><\/p><\/blockquote>\n

\"\"This should not be super surprising. Jordan is obsessed with golf and has a ton of money. At some point the question becomes,\u00a0Why wouldn’t you build a course?<\/em> He plays with guys like Rickie Fowler and Keegan Bradley often, and Fowler even noted two years ago before the Honda Classic that facing Jordan with some bills at stake is great practice.<\/strong><\/p>\n

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