Michael Jordan’s 13-year run as owner of the Charlotte Hornets has come to an end.
MJ is finalizing a sale to an ownership group led by Gabe Plotkin and Rick Schnall, according to reports from ESPN NBA insider Adrian Wojnarowski.
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
Understandably, this massive ownership news has sparked some serious discussion among NBA fans on Twitter.
“I hate to see Jordan sale the Charlotte Hornets but I understand business is business,” one wrote.
“Jordan didn’t want to risk breaking the Cavs record for blown top 5 picks,” another added.
“How will this affect what the Hornets do at #2 ahead of the Blazers next week?” another asked.
Michael Jordan is about to make some money. He bought it for $275 million and I'd say they'll sell for billions.
I don't think he's been as bad of an owner as some say he is. It's not easy owning a small market franchise & he's at least made them relevant vs the Bobcats. https://t.co/el3cGPSfab
— The Chicago Bulls Charge (@thebullscharge) June 16, 2023
An official agreement is expected to be signed soon. Plotkin is already a minority owner of the Hornets, and Schnall a minority owner of the Atlanta Hawks. The NBA still needs to go through its vetting process.
Monetary details of the sale are not yet available.
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