CBS Sport: Michael Jordan prepares to sell majority stake in Charlotte NBA
MOSCOW, March 17 – RIA Novosti. Six-time NBA champion Michael Jordan is in talks to sell a majority stake in the Charlotte Hornets. CBS Sports.
According to the source, Rick Schnall, the minority owner of Charlotte Gabe Plotkin and the minority owner of Atlanta Hawks stock, may buy Jordan’s shares. Jordan is expected to remain a minority owner of the Hornets.
Jordan bought a stake in Charlotte in 2006 and later became president of the club’s basketball operations. In 2010, he bought a majority stake in the Hornets (then known as the Bobcats) for $275 million, becoming the first former NBA player to own a majority stake in a league club. During Jordan’s tenure, Charlotte made only two NBA playoffs.
Retiring in 2003, Jordan is a six-time NBA champion with Chicago and a two-time (1984, 1992) Olympic Champion with Team USA.
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