Translation: MJ was gifted an NBA franchise by the NBA. Now the franchise needs a cash infusion, and the NBA helped massage new investors in the door (my personal conspiracy theory) on what is a pretty bogus $1.5B valuation for Charlotte.
Sources: Michael Jordan sold his undisclosed minority piece of the Charlotte Hornets based on a $1.5 Billion valuation. Jordan bought the team 9 1/2 years ago based on a $280 million valuation (65% for $180M) and initially only put up $30 million cash. https://t.co/PfOWL3SN7y
The @CharlotteWGolf program only started two years ago and now is ranked top 10 nationally. Way to go, ladies.