New Report Drops Giant Truth Bomb On Rumors That Michael Jordan Is Selling Hornets Because He’s Going Broke

TORONTO, ON – FEBRUARY 14: NBA hall of famer and Charlotte Hornets owner Michael Jordan walks off the court during the NBA All-Star Game 2016 at the Air Canada Centre on February 14, 2016 in Toronto, Ontario.
Michael Jordan is set for an enviable payday as he’s finalizing a deal that will see him relinquish ownership of the Charlotte Hornets.

The former Chicago Bulls superstar is selling his majority stake in the team for a reported $3 billion, with minority owners Gabe Plotkin and Rick Schnall set to take over.

There are now widespread rumors claiming that the GOAT is broke as a result of the losses he made on the ill-advised Gamestop short move but, according to sports business journalist Joe Pompliano, they are unfounded.

Pompliano also points out that no one would ever lose the sum being thrown about on a single short position in the market.

“The numbers make no sense, and it’s pure speculation based on Forbes lowering his net worth by $500M during the pandemic,” the journo wrote in response to a thread explaining how MJ is selling the team because he lost it all. “There are no reputable sources, and no one would ever lose that much on a single short position lol.”

Yeah, Frank is great, but the Gamestop rumor is total BS. The numbers make no sense, and it’s pure speculation based on Forbes lowering his net worth by $500M during the pandemic. There are no reputable sources, and no one would ever lose that much on a single short position lol

Last week, Pompliano explained how His Airness is about to make $3 billion after only forking out $25 million when he purchased the majority share in the team.

Previous owner Robert Johnson agreed to sell the franchise to Jordan at a discounted $275 million but the latter only had to put $25 million down in cash on a $170 million equity evaluation as the remaining $105 million was mostly made up of business debt.

VIDEO: USWNT Star Sophia Smith Suspended For Her Weird Behavior On The Bench During Game

Sophia Smith (Photo via womenxfootball/Twitter)
Although Sophia Smith, a forward for the United States women’s national team, has never competed in an Olympics, she hopes to leave her mark in Paris in 2024. However, her actions during a recent game have gotten her into some problems.

On Saturday night, Sophia Smith received a red card in a bizarre manner as the Portland Thorns defeated the North Carolina Courage 1-0. Smith received two yellow cards for time wastage in her first red card of the season, the second of which was issued in an amusing moment.

At Providence Park, the star of the U.S. women’s national team had given her team the lead with a penalty kick in the 79th minute. Smith was shown a yellow card in the 89th minute for kicking the ball away when play had been stopped, with Portland managing to hang on to a late 1-0 lead. Smith was taken out of the game by Thorns head coach Rob Gale well into stoppage time, but things only got stranger from there.

Smith snatched up a ball that had been out of play on the sideline and tried to hide beneath the bench. With a sly smile on her lips, the forward attempted the soccer equivalent of the hidden ball trick, demonstrating her obvious skill.

Referee Danielle Chesky was not amused by Sophia Smith’s antics and gave her a second yellow card.