Report: Michael Jordan in Talks to Promote Majority Stake in Charlotte Hornets

Michael Jordan’s 13-year stint as a majority proprietor within the Nationwide Basketball Affiliation (NBA) could also be coming to an finish.

Sources to ESPN declare that Jordan is in severe negotiations to promote his majority share within the Charlotte Hornets to a bunch led by Hornets minority proprietor Gabe Plotkin and Atlanta Hawks minority proprietor Rick Schnall, ESPN’s Adrian Wojnarowski studies.

If the sale goes via, Jordan is anticipated to retain a minority stake within the Hornets.

“Jordan sold a significant minority stake to Plotkin, founder and chief investment officer of Melvin Capital, and Daniel Sundheim, founder and chief investment officer of D1 Capital, in 2020, and sources said that Sundheim is part of the group working to purchase the team,” Wojnarowski studies.

The report’s timing is attention-grabbing, given one other report from Washington Occasions sports activities columnist Thom Loverro, who claims a supply knowledgeable him that Jordan would promote his majority stake within the Hornets as a prelude to purchasing the Commanders.

A number of studies surfaced on Wednesday and Thursday that the sale of the Commanders was imminent, shortly earlier than information of Jordan promoting his majority stake was made public. Although, as Loverro states, he was unable to verify the report.

Jordan has been the NBA’s solely minority proprietor since buying a majority stake within the Hornets in 2010.

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