Michael Jordan finalizing deal to sell majority ownership stake in Charlotte Hornets

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Michael Jordan is selling to a group led by Gabe Plotkin and Rick Schnall, the Charlotte Hornets said on Friday

Michael Jordan is finalizing a deal to sell the majority share of the Charlotte Hornets, a move that will end his 13-year run overseeing the organization, the team announced Friday.

It’s not clear how long the process of selling will take to finalize by the NBA’s Board of Governors. Jordan is expected to keep a stake in the Hornets, the team he bought in 2010 for about $275-million.

 

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