The Ascent of Victor Wembanyama: The Draft Selection that Ended up Costing Michael Jordan $280 million
The Ascent of Victor Wembanyama: The Draft Selection that Ended up Costing Michael Jordan $280 million
13 fortunate clubs won seats in the Top 14 choices for the upcoming draft in last night’s NBA Draft Lottery. The San Antonio Spurs, who took home the coveted top slot despite having a 14% chance, were the night’s true winners, though.
This indicates that the Spurs will probably choose the outstanding Victor Wembanyama on June 22, 2023. But none other than Michael Jordan paid $280 million for this achievement.
Let’s have a little discussion regarding Victor Wembanyama. This remarkable talent has an astonishing 8-foot wingspan and a height of 7 feet 4 inches. All eyes are still on Wemby as the #1 choice despite Scoot Henderson’s excellent showing in the G League Ignite. While Victor rejoiced with his family in France, Michael Jordan’s financial account suffered.
Therefore, did Victor Wembanyama wind up costing Michael Jordan an astounding $280 million? We must go back to October 2022 to comprehend the reasoning behind this number. According to Adrian Wojnarowski of ESPN, a team president thought that selecting Wembanyama may boost the worth of the organization by as much as $500 million during an interview on NBA Countdown on ESPN.
Wembanyama was a target for the Hornets in the draft
Let’s now examine the Charlotte Hornets‘ current market value. The Hornets are valued at $1.7 billion by Forbes. According to business analyst Darren Rovell, the Hornets’ value would increase to $2.1 billion if Victor Wembanyama signed with them and became a franchise player. That’s a $400 million boost over what they are currently worth.
Considering that Michael Jordan plans to sell his 70% ownership of the Hornets, a $400 million increase in team valuation would have meant an extra $280 million for Jordan. Jordan would increase his net worth (before taxes) by a stunning $1.47 billion instead of the anticipated $1.19 billion.
Now, the Hornets will choose a player with the second selection in the draft. Victor Wembanyama and Scoot Henderson are this year’s top two prospects. However, the Hornets will have to think about their choices, given the strong indications that the Spurs may select Wemby.
The Hornets already have LaMelo Ball as their main point guard, even though Scoot Henderson is also a superb point guard. They are expecting to select Brandon Miller rather than Scoot. Though it’s still possible that the Hornets will choose Scoot and either use a two-point guard system or trade him for a star player to surprise everyone, how the draft plays out and the Hornets’ draft tactics will only become clear with time.
Related: NBA Draft Lottery: When & Where Will It Be Broadcast?
