Hornets finally making a bit of scratch

The Story

Forbes Magazine reports that the Charlotte Hornets made $1.2 million in profits last year.

The Facts

– Forbes estimates the team is worth $725 million. (Lakers have the highest worth, at $2.6 billion.)

– Owner Michael Jordan paid $175 million for his majority ownership in 2010. Good investment, MJ.

– Hornets rank as the 26th most valuable team in the 30-team NBA.

– What’s changed?

• The NBA began a revenue-sharing model that benefits teams in smaller markets, such as Charlotte.
• New TV deals are bringing more money to franchises.
• The Hornets name is paying off.
• Last year, the team made a playoff run.

The Quotes

Charlotte Hornets value soars to $725 million: Perhaps the editors of Forbes wanted to make Michael Jordan’s w… http://t.co/tlHDgIDDnk

— Erik Spanberg (@CBJspanberg) January 21, 2015

Charlotte Hornets’ value soars to $725 million: http://t.co/Bf5kJ6YC2b — Michael Jordan News (@MichaelJordanNe) January 21, 2015

The Forbes list calls the Hornets the Bobcats. This will complicate how readers perceive the data. Fun.

— Joshua B. Priemski (@HoopPlusTheHarm) January 21, 2015

C5’s Take

Ticket sales are up — average of 17,393 per game vs 15,518 last season, renovations are coming to Time Warner Arena and the Hornets name is hot, hot, hot. We like this buzz.

Photo: Jeff Siner / Charlotte Observer

This story was originally published January 22, 2015 at 1:17 AM with the headline "Hornets finally making a bit of scratch."