Billionaire NBA legend Michael Jordan has finally sold his franchise, the Charlotte Hornets earlier this week. Although the six-time NBA champion found little success with the Hornets on the basketball court, he made a neat little profit after investing just $175 million to buy the majority stakes in 2010. Interestingly, this wasn’t the only sports franchise the Chicago Bulls legend has invested in.

By now, everyone is aware of Jordan’s venture into the NASCAR world with his 23XI team. Not only NASCAR, but Jordan has also made inroads into the world of baseball. He has a stake in the Miami Marlins which has seen some difficulties in the past few years.

The Miami Marlins have had some fluctuations in their valuation

The Miami Marlins have had two sporting icons in their ownership group. They are Michael Jordan and MLB legend Derek Jeter. Despite all the experience of winning multiple accolades on their board, the Marlins haven’t performed on the pitch for quite some time.

This is also clear in their value. In 2020, the Marlins were valued at $980 million, the lowest among all MLB teams back then. This also was the year Jeter left the ownership group after disagreements with the owner. Thankfully, their fortunes turned around, and they recorded a value of $1 billion in 2022.

As of 2023, the Marlins’ value stands at $1 billion according to Forbes. Derek Jeter and his investment group took charge of the Marlins in 2017 after paying $1.2 billion.

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Interestingly, Jordan wasn’t a part of the initial group of people reportedly taking over the Marlins. However, a plea for help from his good friend changed the NBA Hall of Famer’s mind.

Why did Michael Jordan invest in the Marlins?

MLB legend Derek Jeter got a first-hand experience of Jordan’s values as a good friend in 2017. Three years after his retirement from the game, Jeter showed an interest in buying the Miami Marlins. After months of searching for investors, Jeter was still short of funds and had also contacted the MLB for support.

That’s when his old friend Jordan came to help. While Jeter owned 4% of the franchise, the Chicago Bulls legend secured a 1% stake in the franchise. The value of his stake in 2017 was roughly $5 million. 

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