Multiple sources include NBA Insider Adrian Wojnarowski, Michael Jordan He is believed to be in negotiations to sell his majority share in the 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 now has a value of over $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 to have been involved in the purchase. However, Schnall and Plotkin are expected to co-govern the team if successful. Sources say that Jordan will still be able to own a minority stake in franchise if the sale goes through.

Keep checking back for more information as the situation changes.

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