Michael Jordan to sell Charlotte Hornets

NBA superstar Michael Jordan has finalized the sale of the Charlotte Hornets.

Our sister station WSOC-TV reported months ago that Jordan was in talks to sell the team.

ESPN was the first to confirm the sale on Friday. League sources said that the deal is worth about $3 billion, according to the sports news outlet.

Jordan is the only Black majority owner of an NBA team, WSOC reported. He currently has the majority stake in the team and will be selling it to a group led by Gabe Plotkin and Rick Schnall. Both are minority NBA owners: Plotkin with the Hornets and Schnall with the Atlanta Hawks, WSOC reported.

Several other people are reportedly part of the buying team, including Daniel Sundheim, J. Cole, Eric Church and several smaller investors from the Charlotte area, according to WSOC.

Jordan will still maintain a “presence with the franchise,” ESPN reported. He’ll keep a minority stake in the team, WSOC reported.

Visit WSOC for more.

0 of 40