Michael Jordan in 'serious talks' to sell majority stake of Hornets: report
Jordan has owned majority of team since 2006
Michael Jordan is in major discussions to sell a majority stake in the Charlotte Hornets, according to a report.
Jordan became part-owner of the organization in 2006 when they were the Bobcats, and he became the majority owner four years later.
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Michael Jordan attends the game between the Orlando Magic and Charlotte Hornets on March 1, 2023 at Spectrum Center in Charlotte, North Carolina. (Kent Smith/NBAE via Getty Images / Getty Images)
Jordan is in "serious talks" to sell the stake to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall, ESPN reported Thursday evening.
If a sale goes through, Jordan will still own a piece of the team.
No deal is imminent, but there has been "significant momentum."
Michael Jordan attends a press conference before the NBA Paris Game match between Charlotte Hornets and Milwaukee Bucks on January 24, 2020 in Paris, France. (Aurelien Meunier/Getty Images / Getty Images)
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Jordan sold a minority stake to Plotkin, founder and chief investment officer of Melvin Capital Management, and Daniel Sundheim, founder and chief investment officer of D1 Capital Partners, in 2020.
Charlotte Hornets owner Michael Jordan shakes hands with Mark Williams #5 of the Charlotte Hornets after their game against the Orlando Magic at Spectrum Center on March 03, 2023 in Charlotte, North Carolina. (Jacob Kupferman/Getty Images)
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Before going into the front office, Jordan became the best basketball player of all time. He won six NBA titles – all of which he won the Finals MVP – with the Chicago Bulls and five regular season MVPs. He also was a 10-time scoring champion and a nine-time All-Defensive First Teamer.