Multiple sources include NBA Insider Adrian Wojnarowski, Michael Jordan According to reports, he is in talks with his major shareholder in the company about selling it. Charlotte Hornets to the team’s current minority owner Gabe Plotkin, and Atlanta Hawks Rick Schnall, minority owner
After cementing his legacy as one of, if not the greatest NBA players of all time with six championships and five MVP titles, Michael Jordan became the league’s first and only Black majority team owner in 2010, buying a majority stake in the Hornets for $275 million USD. According to StatistaThe franchise is worth more than $1.7 billion USD.
Plotkin was the founder and chief executive officer of Melvin Capital. D1 Capital founder Daniel Sundheim was the chief investment officer. Jordan purchased a large stake in 2020. Sundheim is believed be involved in the group’s purchase. If the negotiations succeed, Schnall as well as Plotkin will serve co-governors of the team. Sources report that Jordan still has a minority interest in the franchise, even if there is a sale.
As the situation develops, keep checking for further details.
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