Michael Jordan Selling Part of Charlotte Hornets Stakes, Retains Majority
Michael Jordan seems poised to start selling off part of his stake in the Charlotte Hornets.
Don’t be alarmed though Hornets Nation, for His Royal Airness still plans to be a big part of Hornet decision-making on the personnel side, especially in terms of what goes on on the court. That being said, Jordan is set to sell off a “large piece” of his 97% ownership stake of the team to two New York-based investors, but according to Rick Bonnell of The Charlotte Observer, Jordan will still retain majority ownership.
— Rick Bonnell (@rick_bonnell) September 14, 2019
According to Bonnell, the league is expected to very quickly approve of the sale, making Gabe Plotkin and Daniel Sundheim minority owners. Forbes has recently estimated the Hornets worth at $1.3 billion.
According to sources close to the situation, Jordan plans to own the Hornets “for a long time.”