Michael Jordan considering majority stake sale of Charlotte Hornets, report says

By Mark Bergin, WRAL senior multiplatform producer

Charlotte, N.C. — Charlotte Hornets owner Michael Jordan is engaged in serious talks to sell a majority stake in the franchise, according to a report by ESPN senior NBA insider Adrian Wojnarowski.

Unnamed sources told Wojnarowski that Jordan is having conversations to sell the stake to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall.

Sources said the deal would install Plotkin and Schnall as the co-governors of the Hornets. Jordan would remain with a minority stake, according to the sources.

Jordan, 60, is a six-time NBA champion, five-time NBA MVP and is the league’s only Black majority owner.

In June 2006, Jordan bought a minority stake in the team formerly known as the Charlotte Bobcats. In March 2013, the NBA Board of Governors approved Jordan’s purchase of the majority stake in the team. Jordan became the first former player to become the majority owner of an NBA team.