Michael Jordan Sells Majority Hornets Stake For $3 Billion
The Charlotte Hornets majority was owned by Michael Jordan, but that is no more. Jordan has sold his majority stake for $3 Billion.
The majority ownership was sold to “The Buyer Group”. One of those members is Gabe Plotkin. He actually was a minority owner in the Hornets as well as the Atlanta Hawks. This is all according to NBA.com. He apparently is going to allegedly sell his minority stake in the Hawks. The Hornets made the official announcement today.
As you can see from the announcement, Jordan will retain a minority stake in the team. J. Cole is part of this group which now makes him part owner of the team once approved.