Michael Jordan is selling his majority share of the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall, ending Jordan's 13-year run of being the Hornets owner.
Charlotte Hornets owner Michael Jordan speaks to the media about hosting the NBA All-Star basketball game during a news conference in Charlotte, N.C., Tuesday, Feb. 12, 2019. Michael Jordan is finalizing a deal to sell the majority share of the Charlotte Hornets, a move that will end his 13-year run overseeing the organization, the team announced Friday, June 16, 2023. Jordan is selling to a group led by Gabe Plotkin and Rick Schnall, the Hornets said.
NBA commissioner Adam Silver, left, and Charlotte Hornets owner Michael Jordan pose for a photo during a news conference to announce Charlotte, N.C., as the site of the 2017 NBA All-Star basketball game, June 23, 2015. Michael Jordan is finalizing a deal to sell the majority share of the Charlotte Hornets, a move that will end his 13-year run overseeing the organization, the team announced Friday, June 16, 2023. Jordan is selling to a group led by Gabe Plotkin and Rick Schnall, the Hornets said.
The sale price was not immediately announced; ESPN, citing sources, said the franchise was being valued at $3 billion. The most recent sale of an NBA team came when Mat Ishbia bought theThrough spokesperson Estee Portnoy, Jordan declined comment.Michael Jordan looks on during the first half of an NBA basketball game between the Charlotte Hornets and the New York Knicks in Charlotte, N.C., Friday, Nov. 12, 2021.
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