The NBA’s Board of Governors recently approved the sale of the Charlotte Hornets through a vote. The 29-1 outcome of the ballot officially ended Michael Jordan’s 13-year tenure as the majority owner of the Hornets. A group of investors led by Gabe Plotkin and Rick Schnall are set to buy the Charlotte side for a staggering price of $3 billion. As the reins of the NBA team change hands, the recent valuation of another franchise has attracted the attention of fans. The Dallas Mavericks are now worth a whopping $3.3 billion, breezing past the Hornets’ $3 billion price by a hefty margin.
Billionaire entrepreneur and basketball fan Mark Cuban bought the Dallas Mavericks for $285 million in 2000. The Shark Tank investor immediately introduced a change in the culture of the organization, fostering a close relationship with the staff and the players. Cuban’s methods to reintroduce the team to Dallas fans paid off, increasing the team’s value by 11.5 times.
The Mavericks’ worth surpasses Michael Jordan’s Hornets’ $3 billion price tag
Michael Jordan became the majority owner of the Hornets(then Charlotte Bobcats) in 2010 for $275 million. Since then, the 60-year-old has struggled to put up a decent showing in the NBA with his team. The Hornets have failed to make it to the postseason consistently, leave alone winning a Championship, with Jordan as the Governor of the franchise.
Plotkin and Schnall will be looking to implement drastic changes in the organizational structure to turn around the team’s fortunes. Schnall has been a minority owner for the Atlanta Hawks in the past and Plotkin has been a minority owner for the Hornets since 2019. Therefore, they are not completely new to the business of managing NBA teams.
Meanwhile, Mark Cuban’s Mavs have impressed NBA fans with a $3.3 billion 2023 evaluation, as per Boardroom. The Mav’s uneventful days in the NBA started to change after the Dallas side traded for the German star Dirk Nowitzki in 1998. Nowitzki’s inclusion to the roster, coupled with Mark Cuban’s entry as the new owner, were pivotal for the Mavericks to flourish in the West.
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Nowitzki led the Mavs to their first ever NBA championship in 2011 against the Big Three in Miami in the Finals, effectively putting the Western Conference side on the basketball map. The 2007 NBA MVP retired as the franchise’s greatest player in 2019, leaving the keys to his very worthy successor in Luka Doncic.
Drafting Luka Doncic as the third overall pick in the 2018 NBA Draft is widely considered to be the Mavs’ biggest Draft Day win. The four-time All-Star has already proven to be a MVP-caliber superstar with four All-NBA selections in his five-year stint in the NBA. Even though Luka has led Dallas to the Western Conference Finals almost single-handedly, the addition of Kyrie Irving to the squad this year easily makes the Southwest Division side a dark horse in the West.
Mark Cuban has a good relationship with his team’s players
Mark Cuban prides himself to be a team player. He changed the Mavs’ culture from Day 1, making cold calls to season ticket holders along with the team’s sales staff.
The 65-year-old is also known to challenge his star players on the court. The Mavs boss is often seen sitting courtside and passionately cheering his team on during crucial encounters.