Michael Jordan’s tenure as majority owner of the Charlotte Hornets is reportedly near its end.
Jordan is in serious talks to sell a huge stake of the franchise to a group that includes Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall, according to ESPN. Should a sale go through, Jordan would still hold a minority stake in the Hornets, according to the report.
Jordan sold a piece of the Hornets to Plotkin, a founder of Melvin Capital, and Daniel Sundheim, a founder of DI Capital, in 2019. The two New York-based investors were brought on board, but Jordan still controlled 97% of the Hornets’ equity, the Observer reported at the time.
