NBA

Michael Jordan in talks to sell majority stake in Charlotte Hornets

By Sports Desk March 17, 2023

Michael Jordan is reportedly engaged in serious talks to sell a majority stake in the Charlotte Hornets.

Five-time NBA MVP Jordan became the only black majority owner in the league when he paid $275million for a controlling stake in the franchise in 2010.

Jordan then sold a significant minority stake to Gabe Plotkin and Daniel Sundheim in 2020, and an ESPN report suggests Sundheim is part of a group now looking to gain control of the Hornets.

While a deal is not said to be imminent, the report added Jordan was expected to retain a minority stake in the franchise, with Plotkin likely to join Rick Schnall as a co-governor of the team.

The Hornets have only enjoyed two postseason runs during Jordan's 13-year period as majority owner, last doing so in 2016.

Charlotte are currently 14th in the 15-team Eastern Conference, having seen their record for the season slump to 22-49 with Tuesday's 120-104 loss to the Cleveland Cavaliers.

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