Michael Jordan Reportedly “in Serious Talks” to Sell Majority Stake in Charlotte Hornets

NBA legend Michael Jordan is reportedly looking to sell his majority stake in the Charlotte Hornets.

ESPN reports Jordan is in “serious talks” to sell his stake to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall.

Back in 2006, Jordan became part-owner of the organization when they were the Charlotte Bobcats. Four years later, he became the majority owner after investing $275 million in the team.

According to ESPN, if the sale goes through, Jordan will keep a minority stake in the team.

Currently, the Hornets are ranked 14 in the eastern conference with a record of 22-49.

According to Forbes, the Hornets were worth $1.7 billion in 2022.