Michael Jordan, six-time NBA champion and five-time MVP, is reportedly engaged in negotiations to sell his majority stake in the Charlotte Hornets, which he has owned since 2010.
Sources have revealed that a potential sale would involve a group lead by current minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall. If the talks reach an agreement, Plotkin and Schnall would become the co-governors of the Hornets, with Jordan likely to maintain a minority stake in the team.
ESPN Sources: Charlotte Hornets owner Michael Jordan is engaged in serious talks to sell a majority stake in the franchise to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall. pic.twitter.com/jg03W25s49
— Adrian Wojnarowski (@wojespn) March 16, 2023
Jordan purchased his majority stake in the Hornets in 2010 for $275 million, becoming the first black majority owner in the history of the NBA.
According to ESPN, no deal is currently imminent, but the talks are said to be advancing with significant momentum.