March 31, 2023

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Report: Jordan in ‘severe talks’ to promote Hornets

Charlotte Hornets proprietor Michael Jordan is engaged in severe talks to promote a majority stake within the franchise to a bunch led by Hornets minority proprietor Gabe Plotkin and Atlanta Hawks minority proprietor Rick Schnall, sources advised ESPN’s Adrian Wojnarowski.

There’s momentum on a sale that will ultimately have Plotkin and Schnall take over because the Hornets’ co-owners, although no deal is imminent, Wojnarowski provides. Jordan is predicted to retain a minority stake within the staff if the sale is accomplished.

The previous NBA celebrity bought a big minority stake to Plotkin and Daniel Sundheim in 2020. Sundheim is a part of the group working to buy the staff, sources advised Wojnarowski.

Jordan, a North Carolina native, purchased the Hornets in 2009 – then known as the Bobcats – for $275 million.

Charlotte has made three playoff appearances in Jordan’s 13-year tenure as majority proprietor, with no postseason collection victories.

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