Michael Jordan once had a big moment during the NCAA Tournament. It was Jordan that hit the corner shot that sent North Carolina to their NCAA Championship in 1982. According to a report by Adrian Wojnarowski of ESPN, Jordan is in talks to sell his majority stake in the Charlotte Hornets.
ESPN story on Michael Jordan in serious talks to sell majority stake in the Charlotte Hornets https://t.co/CcEptbEggw
— Adrian Wojnarowski (@wojespn) March 16, 2023
According to Wojnarowski:
“No deal is imminent, but there’s significant momentum on a sale that would eventually install Plotkin and Schnall as the co-governors of the Hornets, sources said.
If a sale is completed, Jordan is expected to remain with a minority stake in the franchise, sources said.”
Jordan paid $275 million dollars for a majority stake in the Hornets in 2019. According to Statista.com, the Hornets are currently valued at $1.7 billion dollars.
The Hornets are in finishing another tough season currently 22-49 and second to last in the Eastern Conference.
We will share any updates as they become available.