Michael Jordan is in major discussions to sell a majority stake in the Charlotte Hornets, according to a report.
Jordan became part-owner of the organization in 2006 when they were the Bobcats, and he became the majority owner four years later.
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Jordan is in “serious talks” to sell the stake to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall, ESPN reported Thursday evening.
If a sale goes through, Jordan will still own a piece of the team.
No deal is imminent, but there has been “significant momentum.”
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Jordan sold a minority stake to Plotkin, founder and chief investment officer of Melvin Capital Management, and Daniel Sundheim, founder and chief investment officer of D1 Capital Partners, in 2020.
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Before going into the front office, Jordan became the best basketball player of all time. He won six NBA titles – all of which he won the Finals MVP – with the Chicago Bulls and five regular season MVPs. He also was a 10-time scoring champion and a nine-time All-Defensive First Teamer.