NBA: Michael Jordan to sell majority stake in Charlotte Hornets

NEW YORK  -- Basketball legend Michael Jordan has agreed to sell his majority stake in the NBA's Charlotte Hornets to an investment consortium, the team announced Friday.

The buyer group is led by Gabe Plotkin, chief investment officer at Tallwoods Capital LLC, and Rick Schnall, co-president of private equity firm Clayton, Dubilier & Rice.

The group also includes musicians J. Cole and Eric Church, said a press release from Hornets Sports & Entertainment that did not disclose financial terms.

Jordan will retain a minority stake in the franchise, the team said. The transaction is subject to NBA approval.

Jordan acquired a controlling investment in the Hornets in 2010 for $275 million. The franchise has been the league's sole team with Black-majority ownership.

Under the terms of the deal, the Hornets as a whole were valued at $3 billion, according to the New York Times. Other outlets have valued the Hornets at closer to $1.7 billion. It was not clear how much of Jordan's initial stake he would retain.

Often considered the greatest-ever basketball player, Jordan led teams to six NBA titles, won the league's Most Valuable Player award five times and garnered two Olympic gold medals. He played his last game professionally in 2003.

However, Jordan's tenure as the only Black owner of an NBA team has been less successful.

- 'On-court failure' -

During his 13-year reign, Charlotte reached the playoffs just three times, losing in the first round on all three occasions.

Last season, Charlotte finished one place off the bottom of the Eastern Conference at 27-55.

Rumors of Jordan's interest in selling his stake have circulated for several weeks.

Speaking on the eve of the NBA Finals last month, league commissioner Adam Silver said Jordan had "the absolute right to sell", but admitted he hoped to see more Black team owners in future.

"I would love to have better representation in terms of principal governors," Silver said. "It's a marketplace. It's something that if we were expanding that the league would be in a position to focus directly on that, but in individual team transactions, the market takes us where we are.

"I will say I know that increasingly our governors are focused on diversity in their ownership groups just as they are in their front office, so the trend lines have been positive over the last several years."

News of Jordan's decision to sell up went largely unlamented by commentators in Charlotte.

Charlotte Observer sports columnist Scott Fowler said that Jordan's departure marked the "end of an era" as the NBA's only Black majority owner of a team.

"But he failed as the Hornets owner in the way he would consider most important: he never turned Charlotte into a winner," Fowler wrote on Friday.

"Jordan's reign as Charlotte's most famous sports owner ever was ultimately a PR success but an on-court failure."

The Hornets sale marks the third change of franchise ownership in the NBA in the past year and coincides with a period in which team values are believed to have skyrocketed.

The Phoenix Suns were taken over in December by a consortium led by billionaire Mat Ishbia while the Milwaukee Bucks co-owner Marc Lasry sold his 25% stake in the club to Jimmy and Dee Haslam, the owners of the Cleveland Browns NFL team.

According to Forbes, Jordan has a net worth of around $2 billion, with around $1.8 billion of his career earnings coming from deals with corporate partners such as Nike, Hanes and Gatorade.

The origin of Jordan's lucrative partnership with Nike was chronicled earlier this year in the film "Air," which was directed by Ben Affleck.

Agence France-Presse

NBA legend Jordan shoes sell at auction for $1.38 million

NEW YORK - Shoes worn by NBA legend Michael Jordan in the famous "Flu Game" of the 1997 NBA Finals were sold at auction for $1.38 million, Goldin memorabilia marketplace announced Thursday.

The sneakers were part of history for Jordan and the Chicago Bulls, who won six NBA titles in the 1990s

The Bulls and Utah were tied in the 1997 best-of-seven NBA Finals at two wins each ahead of game five, when Jordan felt ill, feverish and dehydrated due to a stomach virus but played for Chicago anyway.

Jordan scored 38 points in 44 minutes and made the decisive 3-pointer in the dying seconds for a 90-88 Bulls triumph -- delivering the only Jazz home loss of the playoffs -- and Chicago went on to capture the crown in six games, with Jordan taking the NBA Finals Most Valuable Player award.

The shoes, which had belonged to a former Jazz ballboy, were first sold at auction 10 years ago for almost $105,000.

Agence France-Presse

Michael Jordan's sneakers sell for $615,000, new record

Michael Jordan, Nike, Air Jordan 1, sneakers, auction, basketball, Christie's


A pair of Michael Jordan's game-worn sneakers sold for $615,000, Christie's auction house said Thursday, shattering a record set just months ago by the sale of another pair of the basketball legend's shoes.

The sneakers were a pair of Air Jordan 1 Highs that the NBA megastar wore during a 1985 exhibition match in Italy when he dunked the ball so hard it shattered the glass backboard.

"This is the original shoe with an actual piece of the backboard, a piece of glass, in the sole of the shoe," said Caitlin Donovan, head of handbag and sneaker sales at Christie's -- which organized the auction with Stadium Goods.

Jordan racked up 30 points while wearing the size 13.5 shoes, which are in the red and black colors of his Chicago Bulls team.

Though the sale broke the record set in May when a pair of Air Jordan 1's sold for $560,000, the new auction landed below the estimated range of $650,000 and $850,000.

The record setting sales highlight the soaring market value of objects identified with the retired basketball superstar since the release of "The Last Dance," an ESPN/Netflix documentary that chronicles the saga of Jordan and his Chicago Bulls.

It also confirms that the lowly sneaker now has a place of pride in the world of wealthy collectors alongside more traditional collectibles.

Agence France-Presse

NBA legend Michael Jordan donating $100 million to social justice groups

Michael Jordan said Friday he is making a record $100 million donation to groups fighting for racial equality and social justice amid a wave of protests across the United States.

The NBA legend said in a statement his Jordan Brand would distribute the money over 10 years to different organisations in a bid to stamp out "ingrained racism."

The pledge is believed to be the largest financial contribution to non-profit groups ever made by a figure from the sports world.

"It's 2020 and our family now includes anyone who aspires to our way of life," a joint statement from Jordan and his Jordan Brand said.

"Yet as much as things have changed the worst remains the same.

"Black lives matter. This isn't a controversial statement. Until the ingrained racism that allows our country's institutions to fail is completely eradicated, we will remain committed to protecting and improving the lives of Black people," the statement added.

"Today we are announcing that Michael Jordan and Jordan Brand will be donating $100 million over the next 10 years to organisations dedicated to ensuring racial equality, social justice and greater access to education."

Jordan's donation comes after a week of unprecedented nationwide protests across the United States following the death of an unarmed black man during an arrest in Minneapolis.

Large scale demonstrations have been held in all 50 states, with protesters demanding an end to police brutality and systemic racism after George Floyd's death on May 25.

- 'Saddened, angry' -

Jordan, regarded by many as the greatest player in NBA history with an estimated net worth of $2.1 billion, had already issued a passionate statement decrying Floyd's killing.

"I am deeply saddened, truly pained and plain angry," Jordan, 57, said last Sunday. "We have had enough."

Jordan's donation and impassioned recent statements followed criticism during his playing career over his reluctance to take a more prominent role in activist causes.

In the recent "The Last Dance" documentary, he addressed his infamous quip that he had steered clear of politics because "Republicans buy sneakers too."

Jordan said the remark had been a flippant comment made as a joke.

Jordan added that he never saw himself as an activist athlete in the vein of former heavyweight boxing champion Muhammad Ali.

"I do commend Muhammad Ali for standing up for what he believed in," Jordan said. "But I never thought of myself as an activist. I thought of myself as a basketball player."

Jordan acknowledged that his apolitical stance might be viewed as selfish in some quarters.

"I wasn't a politician when I was playing my sport. I was focused on my craft," Jordan said. "Was that selfish? Probably. But that was my energy. That's where my energy was."

Jordan said he had instead sought to set an example by his achievements as an athlete.

"The way I go about my life is I set examples. If it inspires you? Great, I will continue to do that. If it doesn't? Then maybe I'm not the person you should be following."

Agence France-Presse

NBA great Michael Jordan speaks out on death of George Floyd: 'We have had enough'

Basketball great Michael Jordan voiced outrage on Sunday over the death of George Floyd, a black man shown on video gasping for breath as a white policeman knelt on his neck in Minneapolis, an incident that has triggered violent nationwide protests.

Jordan said his heart went out to the family of Floyd and others who have died through acts of racism.

"I am deeply saddened, truly pained and plain angry," Jordan, a Basketball Hall of Famer and owner of the National Basketball Association's Charlotte Hornets, said in a statement. "I see and feel everyone's pain, outrage and frustration.

"I stand with those who are calling out the ingrained racism and violence toward people of color in our country. We have had enough."


The comments from Jordan came as many U.S. cities were bracing for another night of unrest after cleaning up streets strewn with broken glass and burned-out cars as curfews failed to quell confrontations between protesters and police.

Jordan, a six-time NBA champion who was at the heart of the Chicago Bulls' dynasty in the 1990s, called on people to show compassion and empathy and never turn their backs on senseless brutality.

"We need to continue peaceful expressions against injustice and demand accountability," said Jordan. "Our unified voice needs to put pressure on our leaders to change our laws, or else we need to use our vote to create systemic change.

"Every one of us needs to be part of the solution, and we must work together to ensure justice for all."

(Reporting by Frank Pingue in Toronto; Editing by Peter Cooney)

-reuters-

Jordan memorabilia soars in value amid 'Last Dance' nostalgia

NEW YORK -- The immense global success of the documentary "The Last Dance" amid the coronavirus lockdown has boosted sales of collectibles related to NBA icon Michael Jordan, some of which are trading in the hundreds of thousands of dollars.

"Timing is everything," says Jordan Geller, a collector who on Sunday will be richer by at least $240,000 thanks to the sale at Sotheby's of a pair of Air Jordan 1 sneakers -- the first model created especially by Nike for Michael Jordan, who made his NBA debut in 1984.

The game-worn pair could set an auction record for sneakers set last year by Nike's Moon Shoe, a pair of which sold for $437,500.

The various Air Jordans have been popular with collectors for 30 years, along with jerseys and trading cards featuring Jordan -- who won six NBA titles with the Chicago Bulls and is widely considered the greatest player in league history.

Many specialists consider Jordan a key figure in creating the market for collectible sneakers, with only non-sports personalities such as Kanye West or Travis Scott able to compete with him today.

But ESPN's 10-part documentary "The Last Dance" which weaves details of Jordan's entire career through the narrative of the Bulls' pursuit of a sixth NBA title, has ramped up interest in all things Jordan.

"I think this is a game-changer," Chris Ivy, director of sports collectibles at Heritage Auctions, said of the documentary series that was carried globally by Netflix.

Ivy predicted the interest fueled by "The Last Dance" will continue.

- 'Iconic, mythical' -

On the StockX shoe resale platform, the Air Jordan 1 Chicago model now sells for up to $1,500, compared to $900 in March.

The first episode of "The Last Dance" aired on April 19.

"That could be largely attributable to the documentary because that's a sneaker that's been on the market for years," says StockX economist Jesse Einhorn.

Likewise, a 1986 Fleer collector's card sold for $96,000 in early May at Heritage, an item that was worth $20,000 to $30,000 at the beginning of the year.

"A lot of people who had a sports cards collection as a kid have been frantically going through their attics to find those boxes and those binders," laughs Geoff Wilson, founder of the Sports Card Investor platform.

"I haven't seen anything like this, where it's well past his career," Ivy said, noting Jordan retired in 2003.

The excitement extends beyond Jordan himself.

Sales of Bulls-branded items are up 400% in May compared to last year on the sports merchandise site Fanatics.

"For a lot of people my age between 40 and 50 years old, Michael Jordan was the Babe Ruth of our generation," Ivy said. "People in that age range are starting to get in a point in their lives where they're starting to collect again."

Even younger fans, weaned on the exploits of the late Kobe Bryant and LeBron James, are feeling the allure of Jordan.

"The majority of our customers are millennials and Gen Z, many of whom were not necessarily alive when Jordan played," Einhorn said. "It's a testament to Jordan's staying power as an iconic, almost like a mythical, cultural figure."

And the market for basketball shoes is maturing, with support from a new generation of enthusiasts as evidenced by the emergence of trading platforms and the prices realized at auctions over the last three years.

"Sneaker collecting and reselling used to be underground activities that were enjoyed by a few sneaker heads," Geller said. "It’s much more mainstream now."

The change has not escaped the notice of manufacturers, who have adapted their marketing and promotional strategies accordingly.

"Sneaker brands are catering to sneaker collectors by releasing more and more limited edition sneakers, so with smaller quantities demand goes through the roof."

But in Geller's opinion, nothing can compare to the original Air Jordans, especially those that can be linked to the great man himself.

"I think the Game Worn Air Jordan 1s are the most iconic sneakers of all time," Geller said. "The fact that these shoes were Game-Worn by Michael Jordan takes them to a whole other level."

Will we ever crack the $1 million mark?

"I think so," said Ivy. "I'm working towards a consignment in the future that I think has the potential to get to a million dollars."

Agence France-Presse

Michael Jordan's first Air Jordans up for auction at Sotheby's

An autographed and well-worn pair of basketball legend Michael Jordan's Nike shoes hits the auction block at Sotheby's on Friday, in a celebrity-infused test of the market for sneakers as highly-prized collectibles.

The Air Jordan 1s, designed for Jordan in 1985 and the first ever signature sneakers, are expected to fetch between $100,000 to $150,000 in the online auction that closes on May 17, Sotheby's in New York said.

Sotheby's, better known for selling multimillion-dollar art, last year held its first auction dedicated entirely to sneakers. It set a new world record of $437,500 for a pair of 1972 Nike running shoes, known as the "Moon Shoe."

The white, black and red Air Jordan 1 sneakers up for auction on Friday have red laces, are signed by Jordan, and show frequent wear by the former Chicago Bulls player. Like most of Jordan's basketball shoes, they are a mismatched pair in a size 13 (left) and size 13.5 (right), Sotheby's said.

The shoes are being sold by collector Jordan Geller, founder of the sneaker museum Shoezeum, where they were previously on display in Las Vegas. They were the "crown jewel" of the museum, drawing fans and collectors from all over the world, according to Geller.

The auction coincides with the 35th anniversary of the Air Jordan brand and the screening of the last episode of the 10-part ESPN television documentary "The Last Dance" about the Chicago Bulls and Jordan.

"With all the excitement surrounding Michael Jordan and 'The Last Dance,' my wife and I decided that it's time to let the shoes find a new home," Geller said in a statement.

-reuters-

Michael Jordan sheds tears, commemorates 'little brother' Kobe Bryant

LOS ANGELES - A tearful Michael Jordan on Monday remembered his "little brother" Kobe Bryant at a star-filled memorial in Los Angeles for the basketball great and his daughter Gianna, who died with seven others in a helicopter crash last month.

"When Kobe Bryant died, a piece of me died, and as I look in this arena, across the globe, a piece of you died," the NBA legend said with tears streaming down his face.

"I promise you, from this day forward, I will live with the memories and knowing that I had a little brother," Jordan, widely regarded as the greatest player in history, added. 

"I tried to help in every way I could. Please rest in peace, little brother."

The public memorial -- dubbed "A Celebration of Life for Kobe and Gianna Bryant" -- was held at Staples Center, the arena where Bryant wowed fans for 17 years, and known as "the house that Kobe built."

The 2/24 date carries special significance as it coincides with Bryant's jersey number -- "24" -- and Gianna's "2" jersey number.

Another basketball legend, Shaquille O'Neal, also spoke at the ceremony, drawing cheers as he recalled the three NBA titles that he and Bryant won together.

"Kobe and I have pushed one another to play some of the greatest basketball of all time and I am proud that no other team has accomplished the three-peat the Lakers have done since Shaq-and-the-Kobe Lakers did it," O’Neal said.

He also spoke of their well-known feuding, saying that even though "we fought, bantered or insulted each other with off-handed remarks," there was mutual respect between the pair.

"Make no mistake," O'Neal said. "Folks thought we were on bad terms, (but) when the cameras were turned off, he and I would throw a wink at each other."

Beyonce, backed by a choir, opened the ceremony with one of Bryant's favorite songs "XO," from her 2013 album, followed by "Halo."

"I'm here because I love Kobe," said the 70-time Grammy-nominated singer, who was dressed in a golden suit -- the color of the Los Angeles Lakers, Bryant's team for two decades.

'HE WAS MY EVERYTHING'

Bryant's widow Vanessa paid a tearful tribute to her late 41-year-old husband and middle daughter, saying she could not fathom life without them and describing Bryant as "my everything."

"God knew they couldn't be on this earth without each other," Bryant said in her first public remarks since the January 26 crash. "He had to bring them home together."

She spoke of her heartbreak at not being able to watch Gianna -- who was 13 and one of four daughters the couple had -- grow up and missing important moments of her life.

"I won't be able to tell her how gorgeous she looks on her wedding day," she said through tears, receiving a standing ovation for the tribute. 

"I'll never get to see my baby girl walk down the aisle, have a father-daughter dance with her daddy."

A visibly shaken Jimmy Kimmel, who officiated at the ceremony, said he saw Kobe and Gianna's faces and jersey numbers everywhere in Los Angeles and beyond.

"All we can do is to be grateful for the time we had with them," said the late night talk show host and comedian.

Among other celebrities attending the memorial were filmmaker Spike Lee -- who was close friends with Bryant and directed a documentary on his life -- and rapper Snoop Dogg, an avid Lakers fan.

Many of the fans lucky enough to nab one of the much sought-after 20,000 tickets for the memorial wore the gold and purple colors of the Lakers as they headed for the two-and-a-half hour ceremony being held amid tight security.

"Kobe meant everything for this city, for this team and for me," said Karen Sanchez, 41, as she waited with friends to enter the arena. "I watched him play from the beginning."

Marcos Rojas, 23, another ticketholder, said Bryant's January 26 death near Los Angeles had been devastating to fans like him who worshipped the player.

"For me, it was like losing a friend," said Rojas, who wore a Lakers jersey with Kobe's number.

"I always watched him playing with my friends," he told AFP. "I always picked Kobe to play in my video games. I couldn't leave home the day of his passing."

Those attending the memorial were given a 24-page program with pictures of Bryant and his family as well as a pin and black T-shirt featuring images of Kobe and his daughter on the back.

bur-jz/dw

Kobe Bryant provides valuable assist to Michael B. Jordan movie ‘Just Mercy’

HOLLYWOOD – “Just Mercy” is billed as an inspiring drama featuring a real-life hero who gave hope to the hopeless and those facing racism and corruption.

Based on the true story of lawyer and activist Bryan Stevenson who fought for those who had been wrongfully convicted, the movie shows the severe injustices suffered by African-Americans accused of crimes they did not commit.

Basketball superstar Kobe Bryant is a fan of the movie and he showed his support to the Warner Bros. drama at a recent community screening in Los Angeles.

“What Bryan had to go through and the amount of perseverance in the face of true fear, true danger. It’s not like, you know, the fear of missing a game winning shot and then you lose the game... It's dealing with real-life consequences,” Bryant said.

“To be able to have that amount of courage, that amount of determination, that amount of focus to persevere through tremendous odds, you're going to leave this theater feeling inspired,” he added.

Actor Michael B. Jordan plays Stevenson.

When asked for advice to someone facing corruption or racial bias, Jordan said: “That's tough. One advice I would give is to never lose hope. It's something that Bryan always says, that hopelessness is the enemy of justice. You gotta have hope. You gotta hope that something's going to happen that you haven't seen before.”

Meanwhile, Jamie Foxx plays Walter McMillian, who was sentenced to die in 1987 despite a lack of evidence.

Karan Kendrick plays his wife, and “Captain Marvel” actress Brie Larson reunited with director Destin Daniel Cretton to complete the ensemble cast of the inspiring drama.

Foxx received a SAG Awards best actor nomination for his portrayal of McMillian, who faced extreme racism and corruption in Alabama.

source: news.abs-cbn.com

Michael Jordan donates $1 million to Dorian relief

LOS ANGELES - NBA legend Michael Jordan is donating $1 million to help relief efforts in the hurricane-battered Bahamas, his spokeswoman said Tuesday.

In a statement on Twitter, Charlotte Hornets owner Jordan said he was "devastated" at the destruction unleashed by Hurricane Dorian on the Caribbean archipelago.

At least 50 people have died and several thousand across the island nation have been evacuated. 

"I am devastated to see the destruction that Hurricane Dorian has brought to the Bahamas, where I own property and visit frequently," Jordan said in a statement announcing his pledge.

"My heart goes out to everyone who is suffering and to those who have lost loved ones," he added.

Jordan said he aimed to distribute funds to non-profit agencies in the region where the money would "have the most impact." 

"The Bahamian people are strong and resilient and I hope that my donation will be of help as they work to recover from this catastrophic storm," he added.

Jordan, 56, has donated to relief efforts in the past, pledging $2 million to help with the aftermath of Hurricane Florence which lashed the Carolinas last year.

Jordan is widely regarded as the one of the greatest basketball players of all time, winning six NBA titles before retiring and eventually becoming owner of the Hornets.

rcw/pb

source: news.abs-cbn.com

LOOK: Man tattoos image of Michael Jordan Bulls jersey on his back

One could say that this man's obsession over Michael Jordan isn't skin deep — figuratively, that is.

A short clip of an apparent fan of the 5-time NBA MVP has been trending on social media. The reason? He inked a near-realistic rendition of Jordan's Chicago Bulls mesh jersey, complete with Jordan's signature tattooed on the No. 2.

He could have just bought the uni if he wanted to be like Mike, but he wouldn't be getting this much attention and scoring this many viral points if he went the easy route.

source: news.abs-cbn.com

Jordan Olympic shoes sell for record $190,373

A pair of game-worn Michael Jordan sneakers sold at auction for $190,373 on Sunday, setting a record for game-used shoes.

The Converse shoes were said to be used by the NBA legend in the gold medal game against Spain in the 1984 Olympics, according to ESPN.


"The record-shattering price proves that Michael Jordan has no equal in the marketplace for game-used basketball memorabilia," said Dan Imler, vice president of SCP Auctions, which sold the shoes.

Jordan's shoes from the 1984 Olympics -- the game was played at The Forum in Inglewood, a suburb of Los Angeles -- are autographed and include his orthotic inserts. They are considered the last pair Jordan wore in a game as an amateur and also the last time he wore Converse in an official game.

Jordan scored 20 points in the 96-65 win over Spain on Aug. 10, 1984. He was drafted by the Chicago Bulls three weeks before he played his first game for the United States in the 1984 Games and signed his deal with the Bulls in September, followed by a Nike deal in October 1984.

According to ESPN, the previous record for a pair of game-used sneakers sold at auction was for the ones Jordan wore in Game Five of the 1997 NBA Finals, also known as the "Flu Game." Those sneakers sold for $104,765 in 2013.

That game was played 20 years ago Sunday, with Jordan battling through flu-like symptoms to score 38 points in the Bulls' win over the Jazz.

(Editing by Gene Cherry)

source: news.abs-cbn.com

LeBron, Cavaliers dispatch Celtics to set up finals trilogy with Warriors

The Cleveland Cavaliers, fueled by another milestone night for LeBron James, powered into a third straight NBA Finals meeting with the Golden State Warriors with a dominant 135-102 win over the Celtics in Boston on Thursday.

James surpassed Michael Jordan as the league's all-time leading playoff scorer.

He finished the game with 35 points, booking his seventh straight finals appearance as the reigning champion Cavs wrapped up a 4-1 victory over the Celtics in the best-of-seven Eastern Conference finals.

For the third straight year they'll face the Golden State Warriors in the championship series.

Game 1 is in Oakland on June 2 (Manila time).

The Warriors, who beat Cleveland for the crown in 2015, swept the San Antonio Spurs in the Western Conference finals and host game one of the championship series in Oakland next Thursday.

While the Celtics captured the top seed in the East, they never led in any of their home games in the series.

Cleveland jumped to a quick 14-5 lead and were up by 43-27 after the first quarter -- posting a franchise record for points in a quarter of a playoff game.

Cleveland's 75 first half points were the most in an NBA playoff game half since 2003 and gave them an 18-point cushion.

James had come into the contest needing 28 points to pass Jordan -- winner of six titles with the Chicago Bulls in the 1990s -- for first on the post-season scoring list.

He did it with a three-pointer late in the third quarter and sat out the entire fourth period.

Kyrie Irving added 24 points and Kevin Love chipped in 15 and Deron Williams added 14 off the bench for Cleveland, who led by as many as 39 points.

The Cavaliers, who rallied from a 3-1 series deficit to beat the Warriors in last year's finals, set an NBA record in winning their 13th straight playoff series closeout game.

source: news.abs-cbn.com

Forbes list: Woods worth $740M; Jordan a billionaire

Golfers Tiger Woods and Phil Mickelson and former NBA player Michael Jordan are among the 20 wealthiest American celebrities, Forbes reported on Wednesday.

Woods, 40, is the youngest person on the Forbes top-20 list, with a net worth estimated at $740 million.

The 14-times major champion, who trails only Jack Nicklaus (18 majors) on the all-time list, recently launched a competitive comeback after being sidelined for more than 15 months while recovering from back surgery.

Woods who went through a costly divorce in 2010 and lost several sponsors after revelations of multiple infidelity, is seventh on the list, while Mickelson is 18th, with an estimated worth of $375 million.

Jordan, 53, who retired in 2003 with the mantle of arguably the greatest basketballer, is worth $1.2 billion according to the magazine, good for fourth on the list, which is topped by filmmaker George Lucas ($4.6 billion).

Forbes says eligibility for the list was limited to United States citizens who are rich because of their fame, rather than famous because they are rich.

According to Forbes, President-elect Donald Trump belongs in the latter category.

source: news.abs-cbn.com

Kobe Bryant's Jordan collection sold for over P11M

The auction for Kobe Bryant's entire Jordan collection ended today and it fetched an insane amount of money.

The collection sold for $240,100 or just a little short of 11.3 million pesos. Wow.

Over the weekend, Michael Jordan gave Kobe Bryant a complete set of the Air Jordan collection from I-XXX in both black and white.

A second black set, with the Jordan 3 and Jordan 8 in Lakers colors (Kobe wore the 3 and 8 in 2003), in Kobe's size 14 were then auctioned off for the benefit of the Kobe & Vanessa Bryant Family Foundation.

After 24 hours and 37 bidders, a total $240,100 has been raised from the opening bid of $100,000.
Check the full set here.

This story was originally published on the ABS-CBN Sports website.

source: www.abs-cbnnews.com 

LeBron aims to emulate 'fearless' Jordan

LOS ANGELES -- LeBron James is aiming to emulate the fearless approach of his idol Michael Jordan as he prepares for another tilt at glory with the Cleveland Cavaliers following last season's heartbreak.

The world's best basketball player is girding himself for the new season after suffering yet another disappointment in the NBA Finals, when the Cavs lost out to the Golden State Warriors.

James produced a remarkable individual contribution to the Cavaliers' unsuccessful challenge, becoming the first player in history to lead both teams in points, assists and rebounds for the entire series.

Yet the statistics -- which included an eye-popping average of 35.8 points across six games -- could not mask the bitter sting of disappointment felt by the 30-year-old forward, who has now finished on the losing side four times in six visits to the NBA Finals.

James admitted recently that the latest defeat was even harder to stomach, joking he had almost got to the point where he'd prefer not to reach the postseason rather than fall at the final hurdle.

"Every year you lose in the Finals, it gets worse and worse to get over," James said following another summer of discontent.

"Last year during the post-season (I asked) would I rather not even make the playoffs than lose in the Finals?

"It's a very valid question to myself. You get all the way there and you lose, it's like, 'I could have those two months back, be laying out, helping my body get better."

- Freedom from fear -

In a revealing recent interview with ESPN, James said he often felt encumbered by a fear of failure -- something he believes six-time NBA champion Jordan rarely suffered from during his career.

"I look at it like this: MJ wasn't perfect. MJ had bad games. He had turnovers. He had games where he felt like he should've been better.

"But I think the greatest thing about MJ was that he never was afraid to fail. And I think that's why he succeeded so much -- because he was never afraid of what anybody ever said about him.

"Never afraid to miss the game-winning shot, never afraid to turn the ball over. Never afraid," James said, adding that he had struggled to mirror Jordan's sense of boldness.

"That's one of my biggest obstacles," James said. "I'm afraid of failure. I want to succeed so bad that I become afraid of failing."

The remedy comes through victory, James said. "Keep winning and I don't have to worry about it. Keep winning," he said.

Certainly in the eyes of their rivals, James and the Cavaliers are this season's team to beat.

In a poll of NBA general managers last week, the Cavs received 53.6 of votes as the likeliest winners of the 2015-2016 season, with James the overwhelming favourite (39.3) to finish as the season's MVP.

James believes the return to fitness of power forward Kevin Love -- injured during the playoffs last year -- will allow him to take more time off in 2015-16.

"I think Kevin Love will allow me to sit a lot this year just because of his abilities and what he's able to do," James said.

He is also adamant that the Cavs will be able to build on the team spirit that took them to the brink of the title last season.

"I think we can build off last year, the chemistry we had, but we can't build off the success as far as wins and losses," James said.

"We've got to have the same focus, we've got to have the same mind frame, we've got to have the same one goal, and that's to get better every single day, improve each and every month, and that will give us the best possible chance to play into June."

source: www.abs-cbnnews.com

Supermarket chain must pay Michael Jordan $8.9 M

NBA legend Michael Jordan was awarded $8.9 million by a Chicago jury on Friday in a case against a supermarket chain which included his name in a promotion without his permission.

"I'm pleased with today's verdict," Jordan said in a statement. "No one -- whether or not they're a public figure -- should have to worry about their identity being used without their permission."

Dominick's in 2009 used Jordan's name in a commemorative ad in Sports Illustrated when the former Chicago Bulls superstar was inducted into the Hall of Fame.

Lawyers for the now-closed grocery store chain -- which was taken over by Safeway -- had said Jordan should receive $126,900 for the unauthorized use of his name.

Jordan argued that he wouldn't have accepted such a deal based on his endorsement history and his legal team determined with the help of a sports economist that using his name in the ad was worth $10 million.

source: www.abs-cbnnews.com

Who is still the richest man in the world, according to Forbes?

Bill Gates stands atop Forbes magazine's annual list of the world's richest people, as Facebook Inc's Mark Zuckerberg joined the top 20 and basketball star Michael Jordan plowed new air by making the list for the first time.

Gates' net worth rose to $79.2 billion from $76 billion a year earlier, putting the Microsoft Corp co-founder at the top for the 16th year in the last 21, Forbes said on Monday.

Mexico telecommunications mogul Carlos Slim Helu ranked second, worth $77.1 billion, while Berkshire Hathaway Inc chief Warren Buffett was third, at $72.7 billion.

Amancio Ortega, the Spanish founder of Inditex SA, which includes clothing retailer Zara, was fourth at $64.5 billion, while Oracle Corp Chairman Larry Ellison was fifth at $54.3 billion.

Buffett's fortune grew $14.5 billion from a year earlier, more than anyone's else, despite his having donated $2.8 billion to several charities last July.

Aliko Dangote, a Nigerian who became Africa's richest man through cement manufacturing and commodities such as flour and sugar, was the biggest loser, falling $10.3 billion to $14.7 billion.

Forbes identified a record 1,826 billionaires, up from 1,645 last year, worth a combined $7.05 trillion.

Of the record 197 women, the highest-ranked was Wal-Mart Stores Inc heiress Christy Walton, who was eighth at $41.7 billion.

France's Liliane Bettencourt, who got much of her wealth from cosmetics company L'Oreal SA, was 10th at $40.1 billion.

Zuckerberg, 30, rose to 16th place from 21st last year, as his net worth grew to $33.4 billion.

The youngest billionaires were Evan Spiegel, 24, and Bobby Murphy, 25, who co-founded mobile messaging app Snapchat, and are each worth $1.5 billion.

Meanwhile, Jordan ranked 1,741st with a $1 billion net worth. The 52-year-old is majority owner of the Charlotte Hornets basketball team, but is better known for his Hall of Fame playing days with the Chicago Bulls and endorsement contract with Nike Inc, which makes Air Jordan shoes.

Jordan's business manager did not immediately respond to a request for comment.

The United States had the most billionaires, with 536, followed by China at 213, Germany at 103 and India at 90.

Russia, which has struggled with currency and oil market turmoil, saw its collection of billionaires fall to 88 from 111, Forbes said.

source: www.abs-cbnnews.com

WATCH: Minnesota's Lavine wows in Slam Dunk Contest

MANILA, Philippines – Minnesota Timberwolves rookie Zach LaVine used the Slam Dunk Contest as his personal coming-out party as he wowed the Barclays Center crowd with four spectacular jams Saturday at the Barclays Center in Brooklyn (Sunday in Manila).

The 19-year-old LaVine, who played one season in UCLA before being picked 13th overall by Minnesota in the 2014 Draft, made a statement with his very first dunk.

Dunking last in the four-player field, LaVine donned a replica of Michael Jordan's Space Jam jersey, then completed an off-the-bounce, between-the-legs reverse dunk that brought the crowd to its feet. The sensational slam got all 10s from the judges.

For his second dunk, the high-flying LaVine needed only one try to complete another off-the-bounce slam dunk, this time bringing the ball behind his back before throwing it down to get another 50.

He easily advanced to the final, where he faced off against Orlando Magic's Victor Oladipo, who earlier wowed the crowd with a"540" reverse dunk.

Oladipo tried to dunk over teammate Elfrid Payton for his first dunk of the championship round, but could not complete the jam in three tries and settled for a score of 31.

LaVine, for his part, got some help from teammate Andrew Wiggins, the top pick in the 2014 Draft. LaVine grabbed the ball from Wiggins' hand and threw down another between-the-legs slam dunk in effortless fashion.

Oladipo proceeded to miss two dunks before settling for an impressive behind-the-backboard slam, for which he received a score of 41.

LaVine then put a capper to his show with another impressive throwdown, as he caught the ball off a pass that his teammate threw off the side of the basket stanchion, and put it between his legs for the slam as the crowd went crazy.

The judges gave LaVine a 49 for the dunk.

The other competitors, Mason Plumlee and Giannis Antetokounmpo, were eliminated after each throwing down a pair of underwhelming dunks in the first round.

source: www.abs-cbnnews.com

Kobe nears Jordan record as LA holds off Kings

Kobe Bryant, closing in on Michael Jordan for third on the NBA's all-time scoring list, scored 32 points on Tuesday to help the Los Angeles Lakers to a 98-95 NBA victory over Sacramento.

Bryant scored 21 points in the second half, including a breakaway dunk and a three-pointer that knotted the score at 92-92 with less than four minutes to play.

Jordan Hill's layup put Los Angeles up 94-93 with 1:39 remaining. The Kings regained the lead with a basket from Darren Collison, but Bryant drained two free throws to give the Lakers a 96-95 lead.

Bryant wrapped up the scoring with two more free throws and Sacramento's Nik Stauskas then bounced a three-point attempt off the rim to end the Kings' challenge.

Although the Lakers are enduring a tough season, Bryant came into the game averaging an league-leading 25.2 points per game, although he's shooting a career-worst 38.9 percent from the field.

"I'm sometimes just shaking my head on how he can continue to go out there and deliver," Lakers coach Byron Scott said of the 36-year-old workhorse.

Bryant now needs 31 points to pass Jordan, with 32,292 career points, for third place on the NBA's all-time scoring list.

Only Kareem Abdul-Jabbar with 38,387 and Karl Malone with 36,928, scored more in their careers.

The Lakers visit reigning NBA champions San Antonio on Friday and Minnesota on Sunday.

Bryant and most of his Lakers team-mates donned black "I can't breathe" T-shirts for pre-game warm-ups, following other NBA players who with similar gestures this week have backed the protests over the lack of charges in the death of Eric Garner.

Garner, a black father of six suspected of selling untaxed cigarettes who was killed in a chokehold by police in New York in July.

source: www.abs-cbnnews.com