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Michael Jordan In “Serious Talks” To Sell Majority Stake In Charlotte Hornets, Sources Say

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As a player, Michael Jordan earned himself a spot within the NBA’s “Greatest of All Time” conversation, but as owner of the Charlotte Hornets, “His Airness” doesn’t boast the same reputation.

On Thursday, ESPN Senior NBA Insider, Adrian Wojnarowski, reported that Jordan was engaged in “serious talks” to sell a majority stake of the team he purchased 2010. The talks have been led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall, sources told ESPN. If the deal goes through, it would install Plotkin and Schnall as the co-governors of the Hornets, although the Air Jordan frontman would remain a minority owner in the franchise.

The Hornets have benefitted from drafting LaMelo Ball in 2020, but the team has only had three winning campaigns in the 13 full seasons during which Michael Jordan has been majority owner. Selling majority stake in the team, however, could serve as a payday for the Chicago Bulls legend as he paid $275 million USD for the franchise in 2010; the Charlotte Hornets’ most recent valuation from Forbes is listed at $1.7 billion. If the deal goes through, however, the League will no longer have a Black majority owner.

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