Around Town

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

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