Official: Michael Jordan sells Hornets after 13 years as owner

Basketball legend Michael Jordan has sold a majority stake in the Charlotte Hornets, according to multiple sources. The Hornets’ new owners will be Gabe Plotkin and Rick Schnall, and the deal will be officially announced within days.

Jordan sells the organization 13 years after becoming the owner of the team. However, the legendary player did not disclose the reason why he decided to sell the majority stake in the Hornets, reportedly, for 3 billion dollars.

OFFICIAL: The sale of the majority stake in the Charlotte Hornets from Michael Jordan to a group led by Gabe Plotkin and Rick Schnall has been finalized.

— Charlotte Hornets (@hornets) August 3, 2023

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“I’m proud of everything the club has achieved: the exciting moments on the court, bringing back the Hornets name. And together with the city, we hosted the NBA All-Star Game in 2019, becoming a real pillar of this community. Over the years, our fans have proven to be incredibly supportive. And now I’m thrilled to be able to hand the reins over to two successful, innovative and strategic leaders like Gabe and Rick. The Hornets organization is in great hands and I am excited about my new role and the success that awaits us in the coming years,” Jordan said in a statement released to the media.

A message from Michael Jordan…#buzzcity #michaeljordan #jumpman #airjordan #hornets pic.twitter.com/KlmqOEDhNp

— Charlotte Paparazzi (@CelebsInCLT) August 3, 2023