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.
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