How much is the Charlotte Hornets franchise worth?

The Charlotte Hornets were recently valued after their sale last year.

Dec 20, 2024; Philadelphia, Pennsylvania, USA; Charlotte Hornets forward Miles Bridges (0) shoots the ball against the Philadelphia 76ers in the fourth quarter at Wells Fargo Center. Mandatory Credit: Kyle Ross-Imagn Images | Kyle Ross-Imagn Images

The Charlotte Hornets were sold last year. Michael Jordan, longtime owner, decided to move on and sold the team to Gabe Plotkin and Rick Schnall. The two co-owners purchased the team for roughly $3 billion. That's not an exorbitant price for a sports team of any quality and in any market these days. Is it reflective of their official valuation, though?

What is the Hornets' official valuation?

According to Sportico, the Charlotte Hornets are currently worth $3.39 billion. Last year's sale was considered expensive since it was for almost twice what Forbes valued the team at. Based on the latest valuation, though, the price looks a lot better.

The Hornets rank 27th of 30 NBA teams in value right now. They're only ahead of the Minnesota Timberwolves, New Orleans Pelicans, and Memphis Grizzlies. The Timberwolves, given their recent and seemingly sustainable success, might eventually pass Charlotte. The same could be said of the Grizzlies.

A team's value is based on a lot of things. Revenue, team success, location, public interest, and more all make up a team's value. The Hornets are one of the NBA's least successful teams. They haven't made the playoffs since 2016, and they have the fourth-worst record in NBA history (a .433 win percentage).

Charlotte isn't a huge media market, especially when compared to the New Yorks, Chicagos, and Los Angeleses of the world. The ownership structure also plays a role, and perhaps Plotkin and Schnall can turn things around in that department.

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