NBA superstar Michael Jordan is in the process of selling his majority stake in the Charlotte Hornets. Adrian Wojnarowski of ESPN reported the news this afternoon.
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
Wojnarowski reports that Jordan is negotiating with existing Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall.
The Hall of Famer—and arguably the greatest basketball player of all time—initially bought a minority stake in the North Carolina franchise, then known as the Bobcats, in 2006.
In the process, he took full control over the basketball side of the operation, with the title Managing Member of Basketball Operations. He had previously served as Director of Basketball Operations with the Washington Wizards.
Jordan became majority owner of the franchise in March 2010, making him the first former player to own the controlling share of a team.
Since taking over as a majority owner the Charlotte franchise, the team has made the playoffs twice (2014, 2016), losing in the first round both times.
With the Bulls, Jordan won six titles, six Finals MVPs, five regular season MVPs, 14 NBA All Star nominations, 10 All NBA First Team nods, a NBA Defensive Player of the Year award and nine All-Defensive First Teams honors.