Michael Jordan’s sale of the Charlotte Hornets was officially completed on Thursday, prompting the NBA legend to issue an open letter to fans of the team.
Jordan, who will remain in a minority ownership role, admitted the organization had not had the success he hoped, and said that he decided to sell to spend more time with his family and in other ventures.
“Although we were not as successful on the court as I – and many of you – would have liked, I am proud of the things that we accomplished as an organization,” Jordan wrote.
Jordan added that he envisioned remaining a minority owner for years to come.
“Although my love for the game of basketball and the NBA remain strong, now is the right time for me to hand over the reins and focus on my family, my personal interests and some new challenges,” Jordan added. “I’m excited to see what the future holds, and I look forward to supporting the team and the community in my new role for many years to come.”
Jordan sold the team to a group led by Gabe Plotkin and Rick Schnall, though he made one more controversial decision on the way out. His involvement will clearly be minimal going forward.
