Report: Michael Jordan in talks to sell majority stake in HornetsIn this file photo taken on January 24, 2020, former NBA star and owner of Charlotte Hornets team Michael Jordan looks on as he addresses a press conference ahead of the NBA basketball match between Milwaukee Bucks and Charlotte Hornets at The AccorHotels Arena in Paris. NEW YORK – Retired NBA legend Michael Jordan is in talks to sell his majority stake in the NBA's Charlotte Hornets, but no deal is imminent, ESPN reported on Thursday (Friday, Manila time). The deal would see Jordan sell the largest stake in the club to Hornets minority shareholder Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall, with Jordan expected to keep a minority stake in the team, unnamed sources told ESPN. Jordan, who turned 60 last month, has been the league's only Black majority owner by virtue of owning the NBA club in his home state of North Carolina. The Hornets have not reached the playoffs since then and suffered five straight losing seasons before going 43-39 last year.

Source: Forbes March 17, 2023 14:19 UTC