BREAKING: Michael Jordan is 'Finalizing' Sale of the Charlotte Hornets

The Hornets will have a new owner soon.

Michael Jordan is reportedly finalizing a deal to sell the Charlotte Hornets to Gabe Plotkin and Rick Schnall, according to Adrian Wojnarowski of ESPN. Plotkin is a minority owner of the Hornets and Schnall is a minority owner of the Atlanta Hawks.

BREAKING: Michael Jordan is finalizing a sale of the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall, ending his 13-year run as majority owner, league sources told ESPN on Friday. pic.twitter.com/5TonSrIQhF

— Adrian Wojnarowski (@wojespn) June 16, 2023

Michael Jordan has been the Hornets majority owner since 2010 and has overseen the return of the Hornets name and brand but the on court production in that time has been disappointing. Under his ownership, the team has made the postseason only twice both of which resulted in first round exits. The team has also had a bundle of draft blunders despite picking in the top ten consistently.

Jordan will however, retain a minority ownership stake in the franchise.

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