Michael Jordan is well-known for what he did on the court with the Chicago Bulls, but he is also the current governor of the Charlotte Hornets. However, it seems as though he may not be the majority owner of the team for much longer.
A recent report from Adrian Wojnarowski of ESPN revealed that Michael Jordan is in serious talks to “sell a majority stake” in the Hornets to a group led by Gabe Plotkin and Rick Schnall, who are both minority owners on other franchises.
ESPN Sources: 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. pic.twitter.com/jg03W25s49
— Adrian Wojnarowski (@wojespn) March 16, 2023
There is no doubt that this is a huge deal, and this happening was definitely unexpected. However, it was also reported that Michael Jordan will end up keeping a minority stake in the team, so perhaps he will still be involved in some capacity with the franchise.
It remains to be seen if a deal does end up going through. It is possible that it will end up falling through but based on the reporting, it seems as though we will see a new majority owner on the Charlotte Hornets sooner rather than later. They are currently a rebuilding franchise, and the incoming governors will have their chance to put their own stamp on the franchise.
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