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NBA: Michael Jordan negotiates the sale of the Charlotte Hornets

2023-03-17T06:55:27.747Z


The Bulls legend, owner of the Hornets, is about to sell his franchise. Superstar Michael Jordan, considered the greatest player in NBA history, is in talks to sell his majority stake in the Charlotte Hornets franchise, ESPN reported Thursday. The 60-year-old former basketball player, owner of the team since 2010, has engaged in " serious negotiations " with a group led by businessmen Gabe Plotkin and Rick Schnall, according to knowledgeable journalist Adrian Wojnarow


Superstar Michael Jordan, considered the greatest player in NBA history, is in talks to sell his majority stake in the Charlotte Hornets franchise, ESPN reported Thursday.

The 60-year-old former basketball player, owner of the team since 2010, has engaged in "

serious negotiations

" with a group led by businessmen Gabe Plotkin and Rick Schnall, according to knowledgeable journalist Adrian Wojnarowski.

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"

The deal isn't imminent, but there is significant momentum ahead of a sale that would make them the Hornets' new co-owners

," he added.

Jordan paid around $275 million in 2010 to become a majority shareholder

Jordan, a former University player at North Carolina State, where Charlotte is located, would retain a minority stake in the franchise if the deal goes through, still according to ESPN.

Plotkin, who is worth around $300 million according to Forbes, is already a minority shareholder in the Hornets, while Schnall owns shares in another NBA franchise, the Atlanta Hawks.

In a study released in October, Forbes ranked the Hornets 27th out of the league's 30 most valuable teams, worth about $1.7 billion.

Jordan paid around $275 million in 2010 to become a majority shareholder, becoming the first former NBA player to own a team.

Under his leadership, the Hornets have had mediocre results so far, with only three appearances in the first round of the play-offs.

Source: lefigaro

All sports articles on 2023-03-17

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