As per reports, 23XI Racing co-owner Michael Jordan is in serious talks to sell a majority stake in his NBA team Charlotte Hornets. Contemplating selling a significant part of his ownership to Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall, Jordan hopes to remain a part of the Hornets by holding onto a small portion of his stake.

Although any details of a deal are not imminent, NASCAR fans feel like Jordan’s decision to sell his stake in Charlotte Hornets has something to do with his ownership of 23XI Racing.

Is NASCAR responsible for Michael Jordan selling his stake in Charlotte Hornets?

On Reddit, citing that maybe the Basketball Hall of Famer is planning to dedicate the majority of his time and resources to NASCAR, a lot of fans shared their theories about Jordan’s decision.

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Whereas a few others pointed out that since the Hornets aren’t exactly performing well, and are unable to create a winning culture for themselves, MJ might want to reallocate his resources to a team with potential – i.e 23XI.

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However, a few others conjectured that maybe the decision had to do something with the expansion of 23XI Racing. Speculating that the Denny Hamlin and Michael Jordan co-owned team is looking forward to adding a new charter to their two car race team, fans said that the money from Jordan selling his Hornets stake can be used to acquire a new number.

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What will the sale mean for Michael Jordan?

If the deal goes through, Michael Jordan will become a minority stakeholder in the Hornets franchise. However, this would also mark the end of Jordan’s 13-year-long run as an owner of the NBA team. Having invested $275 million in 2010, the former NBA owner was the only Black majority owner in the sport.

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However, what’s interesting to most is what would the sale mean for Jordan in terms of money.

Earlier in 2022, Forbes estimated Charlotte Hornets to be worth 1.7 billion. Despite not winning a championship, the team ranks 27 among all other NBA franchises as of last October. Hence, based on the net worth, the sale for Jordan will mean a significant profit of around $1.495 billion!

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