What teams do Michael Jordan own?

Answered by Tom Adger

Michael Jordan, the legendary basketball player, has ventured into various business ventures beyond his basketball career. One of his notable ownerships is his co-ownership of the NASCAR team, 23XI Racing. In 2020, Jordan teamed up with fellow driver Denny Hamlin to form the team, which made its debut in the 2021 NASCAR Cup Series. This venture showcases Jordan’s interest in expanding his sports ownership beyond basketball.

In addition to his involvement in the racing world, Jordan also holds a stake in the sports betting company DraftKings. This investment aligns with the growing popularity and legalization of sports betting in many states. By having a stake in DraftKings, Jordan not only diversifies his investment portfolio but also taps into the lucrative sports betting industry.

Furthermore, Jordan has entered the spirits industry with his ownership of a tequila brand called Cincoro. Launched in 2019, Cincoro aims to provide high-quality tequila to discerning consumers. This venture demonstrates Jordan’s interest in the beverage industry and his ability to capitalize on consumer trends.

Aside from his sports and spirits investments, Jordan has also ventured into the restaurant business. He owns several restaurants, including “Michael Jordan’s Steakhouse” located in Chicago and New York City. These establishments offer a high-end dining experience, capitalizing on Jordan’s brand and reputation.

It is worth mentioning that while Jordan is well-known for his ownership of the Charlotte Hornets, he no longer holds the majority stake in the team. In 2010, he became a minority owner and the team’s managing member of basketball operations. His involvement with the Hornets showcases his continued passion for basketball and his desire to contribute to the sport in a different capacity.

Michael Jordan’s ownership ventures extend beyond the basketball court. From co-owning a NASCAR team to investing in sports betting, tequila, and restaurants, Jordan has diversified his investments and expanded his business portfolio. These ventures allow him to leverage his brand and capitalize on various industries, showcasing his entrepreneurial acumen and business savvy.