NBA
Jordan sells the Hornets
According to ESPN, Michael Jordan is taking the sale of a majority stake in the Charlotte Hornets more seriously than ever and is speaking to a group of people that includes a minority shareholder in the Hornets and a minority shareholder in the Hawks.
Michael Jordan appears to be slowly retiring from the Hornets. That’s according to ESPN, which reports that “Air” is in talks with an investor group to divest a majority stake in the Hornets.
This group of investors is led by Gabe Plotkin (Hornets minority shareholder) and Rick Schnall (Hawks minority shareholder), with discussions well advanced but no agreement reached. Should the two sides eventually come to an agreement, Jordan will not leave Charlotte but will remain as a minority shareholder.
The 6-time champion and 5-time NBA regular-season MVP has owned a majority stake in the club since 2010, when he acquired it for $275 million. Things have of course changed in the NBA since then, and if Jordan eventually decides to sell the Hornets’ majority stake, he is likely to raise a (much) larger sum in another successful investment.
Source: sport 24
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