Charlotte Hornets owner Michael Jordan is reportedly in advanced discussions to sell his majority stake in the Charlotte Hornets.
Charlotte Hornets owner Michael Jordan is considering selling his stake to a group led by Hornets minority owner Gabe Plotkin as well as Atlanta Hawks minority owner Rick Schnall, according to ESPN.
Michael Jordan looking to sell majority stake in Charlotte Hornets
The six-time NBA champion, Jordan, paid a hefty $275 million to become majority owner of the Charlotte Hornets, then known as the Bobcats, in 2010.
Despite discussions to sell, it is believed an agreement is yet to be finalized.
Jordan intends to continue being a part of the franchise but in a minority role, if the sale goes through.
There has been very little success on the court for the Hornets in Jordan’s 13-year period as majority owner.
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The Hornets have only tasted postseason basketball once in that time and once again, look set to miss the playoffs this season.
They have been hampered by injuries, especially to Star guard LaMelo Ball, who is out for the remainder of the season with a fractured ankle he suffered in February, and forward Gordon Hayward missed time due to a fracture in his left shoulder he sustained in November.
The Hornets are currently 22-49 and sit 14th in the Eastern Conference.
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