Menu
Trending: Super Bowl 2015 Ads for Geeks More Topics: Apple | Cars | TV Shows | Politics
Watch all Super Bowl 2015 Ads Online Sexiest Super Bowl 2015 Ad: Carl's Jr. Superbowl Ad with Charlotte McKinney Bud Light Super Bowl 2015 Ad Life-Sized PacMan Mercedes-Benz Super Bowl 2015 Ad Fable T-Mobile Super Bowl 2015 Ad with Kim Kardashian Budweiser Super Bowl 2015 Ad Lost Dog Victoria's Secret Super Bowl 2015 Ad All Super Bowl 2015 Advertisers All Celebrities that appear in Super Bowl 2015 Commercials
Budweiser Super Bowl 2015 Ad Lost Dog is Online

Budweiser Super Bowl 2015 Ad Lost Dog is Online

Snickers Super Bowl 2015 Ad The Brady Bunch is Hysterical

Snickers Super Bowl 2015 Ad The Brady Bunch is Hysterical

Carl's Jr. Super Bowl 2015 Ad stars Charlotte McKinney

Carl's Jr. Super Bowl 2015 Ad stars Charlotte McKinney

Mophie Super Bowl 2015 Ad shows when God runs out of Power

Mophie Super Bowl 2015 Ad shows when God runs out of Power

Minions Super Bowl 2015 Ad

Minions Super Bowl 2015 Ad

Michael Jordan Becomes A Billionaire

Jun 12 2014, 9:56pm CDT | by , in News | Latest Sports News

Michael Jordan Becomes A Billionaire
Photo Credit: Getty Images
/* Story Top Left 2010 300x250, created 7/15/10 */ google_ad_slot = "8340327155";
 
 

Charlotte Hornets owner Michael Jordan is now a billionaire, per Forbes Magazine's Mike Ozanian.

Charlotte Hornets owner Michael Jordan is now a billionaire. 

According to Forbes Magazine's Mike Ozanian, Jordan reached the milestone when he increased his stake in the Hornets: 

"Michael Jordan is now a billionaire. 

"In February, my colleague and Dean of athlete earnings, Kurt Badenhausen, pegged Jordan's annual earnings at $90 million and his net worth at $750 million. But I have learned from sources familiar with the Charlotte Hornets familiar with the Charlotte Hornets that the former NBA great has increased his stake in his basketball team to 89.5 percent from 80 percent during the past several months. 

"Jordan first became an investor in the Hornets (then the Bobcats) in 2006 and became the controlling owner in 2010 when he bought out Robert Johnson for $175 million. 

"Sports bankers say the Hornets are presently worth between $600 million and $625 million. The Milwaukee Bucks sold for $550 million in May, and they are considered the least valuable team in the league. 

"Our net worth figure for Jordan uses the $600 million figure. The Hornets have $135 million of debt, which makes Jordan's equity in the team worth $416 million. After subtracting all the cash Jordan has invested in the team, we estimate his net worth outside of the Hornets to be $600 million, giving him a net worth of $1 billion. 

"Welcome to the billionaires club, Mr. Jordan."

In another development, Jordan hopes to add another superstar to the Hornets roster in the 2014-15 NBA season, per The Charlotte Observer's Rick Bonnell: 

"Years ago Hornets owner Michael Jordan publicly envisioned publicly envisioned a time when NBA players would view Charlotte as a free-agent destination. 

"Sounds like Jordan believes that time is now. 

"'I always thought it was a great destination,' Jordan said Monday. 'I think Big Al (Jefferson) proved you can come here and make a big difference. Hopefully we can look at that and attract some other superstar.'

"Jordan spoke to Media at Hornets Nest Elementary School. The occasion was a $250,000 contribution the Hornets, Lowe's and Fox SportsSouth made, creating a teacher-innovation fund for Charlotte-Mecklenburg Schools faculty. 

"The conversation quickly turned to the opportunities the Hornets have this offseason. The have three picks in the June 26 NBA draft (Nos. 9, 24 and 45) and at least $13 million in space under the salary cap. 

"Last summer the then-Bobcats made a high-impact signing in center Al Jefferson, who finished the season third-team All-NBA. The Bobcats finished the regular season 43-39 and qualified for the playoffs under new coach Steve Clifford. 

"Jordan sees his team matching that progress this summer. 

"'I think we can make a big difference,' Jordan said. 'We did last year with Big Al and some of the other acquisitions. I don't anticipate this being any different. I think we'll try to improve on what we did last year, which I'm very proud of. 

"'The guys came out and took the initiative from coach. He was able to bond and get a really good effort. This (offseason) we have a lot of flexibility. I've been speaking about the last three to four years -- (how) that flexibility is very important. We'll utilize very resource to improve the team. I don't think that will change this summer.'

"Jordan has said his short-term goal is the Hornets becoming a top-four team in the East, which would give them homecourt advantage in the first round of the playoffs. They were the seventh seed last month and were swept in the first round by the Miami Heat." 

 

The 51-year-old Jordan, a five-time MVP, averaged 30.3 points, 6.2 rebounds and 5.3 assists in his 15-year NBA career with the Chicago Bulls and Washington Wizards, per Basketball-Reference.com.   

For more of the hottest sports news, log on to Sport Balla today. 

Watch the Best Super Bowl 2015 Ads Online

You Might Also Like

Read the Latest

Fiat Chrysler will have Three Super Bowl 2015 Ads

Fiat Chrysler will have Three Super Bowl 2015 Ads The most secretive of all car brands in regards to Super Bowl Ads has just revealed that there will be stunning three...

2 hours ago, 4:02pm CST

Minions Super Bowl 2015 Ad

Minions Super Bowl 2015 Ad The new Minions Movie got a Super Bowl ad, but it is not your typical Super Bowl Movie trailer. It is a special made...

4 hours ago, 2:26pm CST

The Best Super Bowl 2015 Ads
Dish AutoHop Lets You Skip the Super Bowl Game and Just Watch the Ads

Dish AutoHop Lets You Skip the Super Bowl Game and Just Watch the Ads DISH AutoHop feature on the Hopper can be reversed and you can skip the Super Bowl Game instead of the Commercials.

4 hours ago, 2:03pm CST

Always Super Bowl 2015 Ad

Always Super Bowl 2015 Ad Always, a feminine care brand, will air a 60-second Super Bowl 2015 Ad in its #LikeAGirl campaign. Watch the Always...

4 hours ago, 1:55pm CST

Snickers Super Bowl 2015 Ad The Brady Bunch is Hysterical

Snickers Super Bowl 2015 Ad The Brady Bunch is Hysterical Snickers has just topped its classic Betty White Super Bowl Ad with the Snickers Super Bowl 2015 Ad staring Danny Trejo...

5 hours ago, 1:20pm CST

Mophie Super Bowl 2015 Ad shows when God runs out of Power

Mophie Super Bowl 2015 Ad shows when God runs out of Power The Mophie Super Bowl 2015 Ad has been released online and it is very creative. Watch below.

5 hours ago, 12:56pm CST

Nintendo Creators Program now available in beta

Nintendo Creators Program now available in beta Creators are now entitled to a share of the ad revenue from Youtube videos

6 hours ago, 11:58am CST

Nokia's report shows a financially strong Q4 2014

Nokia's report shows a financially strong Q4 2014 Despite recent restructuring, Nokia has been able to get back on its feet

6 hours ago, 11:53am CST

LG announces annual financial results

LG announces annual financial results Q4 was disappointing with a $189m loss as a result of the closure of its Plasma TV division

6 hours ago, 11:50am CST

Qualcomm sees lower earnings outlook for the year ahead

Qualcomm sees lower earnings outlook for the year ahead The predictions warn of a challenging year for the company after rumors imply that Samsung will no longer be a customer...

6 hours ago, 11:45am CST

Budweiser Super Bowl Lost Dog Ad Behind the Scenes Videos

Budweiser Super Bowl Lost Dog Ad Behind the Scenes Videos Watch a series of behind the scenes videos of the Budweiser Super Bowl Puppy ad that took social media by storm...

9 hours ago, 9:03am CST

DIG Super Bowl 2015 Ad Trailer

DIG Super Bowl 2015 Ad Trailer The new USA Network TV Show DIG gets a Super Bowl 2015 Ad trailer. Watch the trailer below.

9 hours ago, 8:43am CST

Apple beats Samsung to Become World's Largest Smartphone Vendor in Q4 2014

Apple beats Samsung to Become World's Largest Smartphone Vendor in Q4 2014 Apple and Samsung came to a draw in the fight for sales, both shipments consisting of 7.5 million smartphones, with a...

9 hours ago, 8:42am CST

Coca-Cola Super Bowl 2015 Ad Teaser Campaign borrows Danica Patrick

Coca-Cola Super Bowl 2015 Ad Teaser Campaign borrows Danica Patrick NASCAR driver Danica Patrick who usually just shows up in GoDaddy Super Bowl ads appears in teaser for the Coca-Cola...

10 hours ago, 7:48am CST

Bruce Jenner to reveal his 'Journey' on TV

Bruce Jenner to reveal his 'Journey' on TV Bruce Jenner has been supported by Kris Jenner and the Kardashian sisters as he announced that he will be releasing a...

11 hours ago, 7:38am CST

USA Today Ad Meter 2015 Launched

USA Today Ad Meter 2015 Launched The USA Today Ad Meter 2015, the most prestigious Super Bowl ad ranking, gets Social Upgrade and extended Registration.

11 hours ago, 7:36am CST

Pepsi Super Bowl 2015 Halftime Promotions include Mangold and Crop Circle

Pepsi Super Bowl 2015 Halftime Promotions include Mangold and Crop Circle Pepsi is going all in promoting the Pepsi sponsored Super Bowl 2015 Halftime Show. Besides countless online videos the...

11 hours ago, 7:14am CST

Uber starts Puppy Bowl on Demand Service

Uber starts Puppy Bowl on Demand Service Uber partners with Animal Planet to deliver adoptable puppies to animal lovers for Puppy Bowl XI. Puppy Bowl on Demand...

11 hours ago, 7:02am CST

Apple numbers show present success

Apple numbers show present success Several factors could doom company

11 hours ago, 7:00am CST

Apple Watch to begin shipping in April

Apple Watch to begin shipping in April CEO Tim Cook confirms on Tuesday

11 hours ago, 6:55am CST

Samsung reports Financial Results of Q4, 2014

Samsung reports Financial Results of Q4, 2014 Samsung did really good in the past year and they have just announced their earnings for their fourth quarter. They...

12 hours ago, 6:35am CST

Microsoft Office comes to Android Tablets along with New Outlook Mail apps for iOS and Android

Microsoft Office comes to Android Tablets along with New Outlook Mail apps for iOS and Android Microsoft has launched Office for Android tablets while new Outlook Mail apps are also launched for iOS and Android...

12 hours ago, 6:28am CST

McDonald’s ousts CEO Donald Thompson

McDonald’s ousts CEO Donald Thompson McDonald’s stock jumped after the announcement of CEO Donald Thompson’s retirement.

12 hours ago, 5:51am CST

Justin Bieber Apologizes for his arrogant behavior on the Ellen DeGeneres Show

Justin Bieber Apologizes after acting Nervously on the Ellen DeGeneres Show Justin Bieber apologized in a short video on his social online site to all Beliebers for his arrogant behavior in the...

12 hours ago, 5:44am CST

Ucool Heroes Charge Super Bowl 2015 Ad Released

Ucool Heroes Charge Super Bowl 2015 Ad Released Mobile game developer Ucool will run a Super Bowl 2015 Ad for its hit game Heroes Charge.

13 hours ago, 5:27am CST

Jublia Toe Fungus Super Bowl 2015 Ad

Jublia Toe Fungus Super Bowl 2015 Ad Pharma company Valeant bought a Super Bowl 2015 for $4.5m to advertise Jublia, a Toe Fungus treatment. I so look...

13 hours ago, 5:09am CST

Taylor Swift trademarks 1989 Phrase “This Sick Beat”

Taylor Swift trademarks 1989 Phrase “This Sick Beat” The pop singer has decided that she needs to trademark some phrases as she released her new album. Taylor Swift uses...

13 hours ago, 5:02am CST

Super Bowl 2015 Ad Online Ranking Update

Super Bowl 2015 Ad Online Ranking Update The race is on between Super Bowl ads to catch the most eyeballs ahead of the Big Game on Sunday. We analyzed the...

13 hours ago, 4:50am CST

Sony brings Spotify to PlayStation

Sony brings Spotify to PlayStation Sony partners with Spotify for PlayStation Music. PlayStation melded with Spotify in order to make music. It was indeed...

13 hours ago, 4:39am CST

Mercedes Benz Super Bowl 2015 Ad Behind the Scenes is Eye Opener

Mercedes Benz Super Bowl 2015 Ad Behind the Scenes is Eye Opener Mercedes-Benz released a behind the scenes video revealing the making of the awesome Mercedes Benz Super Bowl 2015 Ad....

14 hours ago, 4:10am CST

Comments

blog comments powered by Disqus