According to ESPN’s Adrian Wojnarowski, Charlotte Hornets owner Michael Jordan is in serious talks to sell a majority stake in the team to Hornets minority owner Gabriel Plotkin and Atlanta Hawks minority owner Rick Schnall.
If completed this would eventually make Plotkin and Schnall the co-owners of the Hornets. There is substantial momentum but no agreement is imminent, according to insiders.
Jordan is anticipated to retain a minority ownership stake in the team if a sale is successful, according to reports.
Jordan’s 13-year tenure as owner of the Hornets would come to an end if he sold the majority of the team. In 2019, he invested $275 million for the franchise’s majority ownership.
The six-time NBA champion and five-time MVP has been the league’s only Black majority owner.
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