Michael Jordan is “engaged in serious talks” to sell his majority ownership stake in the Charlotte Hornets, per ESPN’s Adrian Wojnarowski.
ESPN Sources: Charlotte Hornets owner Michael Jordan is engaged in serious talks to sell a majority stake in the franchise to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall. pic.twitter.com/jg03W25s49— Adrian Wojnarowski (@wojespn) March 16, 2023
Current Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall are leading the group that’s engaged in talks with Jordan on taking over.
Per Woj’s story on the news, no deal is imminent but Plotkin and Schnall would be named co-governors if the sale is complete, and Jordan is also expected to maintain a minority stake in the franchise.
ESPN story on Michael Jordan in serious talks to sell majority stake in the Charlotte Hornets https://t.co/CcEptbEggw— Adrian Wojnarowski (@wojespn) March 16, 2023
If Jordan were to sell the team, it would end a 13-year run as owner of the Hornets. Plotkin purchased a minority stake back in 2020. We’ll have more on the matter later, but for now let’s get our thoughts out.