• Charlotte Hornets see value jump to $1.25 billion on new Forbes' list

    By: Erik Spanberg, Charlotte Business Journal

    Updated:

    CHARLOTTE, N.C. - Michael Jordan just received an early birthday present — on top of gearing up for his NBA team’s role as host of the All-Star Game next weekend. And that gift looks like one that will keep on giving.

    On Wednesday, Forbes magazine published its annual valuation of pro basketball teams, pushing Jordan’s Charlotte Hornets to $1.25 billion.

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    This for a franchise Jordan bought eight years ago for $175 million.

    Jordan turns 56 on Feb. 17, the same day the Hornets and Spectrum Center will stage the NBA All-Star Game, capping a weekend of events projected to generate as much as $100 million for local hotels, restaurants and other businesses.

    Read the full story here.

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