Michael Jordan selling majority ownership stake in Charlotte Hornets

FILE - Charlotte Hornets owner Michael Jordan speaks to the media about hosting the NBA All-Star basketball game during a news conference in Charlotte, N.C., Tuesday, Feb. 12, 2019. (AP Photo/Chuck Burton, File)Michael Jordan is finalizing a deal to sell the majority share of the Charlotte Hornets, the franchise announced Friday, leaving the 30-team NBA without any Black majority ownership. Jordan is selling to a group led by Gabe Plotkin and Rick Schnall, the Hornets said. Jordan plans to keep a minority stake in the Hornets, the team he bought in 2010 for about $275 million. Two years later, the Hornets won 48 games but lost again to the Heat in the first round, this time in seven games.