It’s time for change for Michael Jordan. The iconic Chicago Bulls player has decided to sell his shares in the Charlottes Hornets, a franchise he has owned since 2010.
A page is about to turn on the side of the NBA. And more precisely to the Charlotte Hornets since the current owner of the franchise seems determined to withdraw and sell his shares. This owner is none other than Michael Jordan, living basketball legend, who bought the franchise in 2010. A real thunderclap for the team that plays in the NBA’s Eastern Conference.
More than a decade after his arrival as majority boss, “his Airness” is therefore about to take off again. Penultimate in its Conference, Charlotte has once again struggled to stand out since the start of the regular season. Perhaps one of the reasons that push Michael Jordan today to consider passing the baton. According to ESPN, he could thus sell his majority stake to a Gabe Plotkin already in the Hornets project since he is the minority owner.
A confirmed momentum
Another man is also concerned by the possible transaction since the American media mentions the name of Rick Schnall, meanwhile minority owner of the Atlanta Hawks. If the operation seems launched today, it could however take time since ESPN confirmed Thursday evening that “no deal is imminent, but there is significant momentum on a sell-off“.
Breaking: 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, sources told @wojespn. pic.twitter.com/it7lhVqBsR
—ESPN (@espn) March 16, 2023
Michael Jordan’s disengagement should not be total, however, since he should “keep a minority stake” in the Hornets. As pointed out by his side The Team, Jordan has paid nearly $275 million in thirteen years at the helm of the franchise.