Following his retirement in 1999, Jordan attempted to buy a minority stake in the Hornets but the deal collapsed. Later on he landed a minority stake in the Charlotte Bobcats in 2005. He completed the takeover of the franchise in 2010 becoming its sole owner. It is reported that the six-time champion purchased the Charlotte Hornets for $180 million dollars and assumed control of 97 percent of the team’s equity. His takeover, boosted the value of the franchise to $1.5 billion dollars which was 20 percent higher than its previous net worth.