Michael Jordan considering sale of Hornets; no deal imminent -
The six-time NBA champion is in negotiations to sell at least a portion of the franchise to a group that includes Hornets minority owner Gabe Plotkin.
In 2019, Jordan sold a portion of the Hornets to Plotkin, a founder of Melvin Capital, and Daniel Sundheim of DI Capital, but Jordan still controlled the majority of the team’s equity. Jordan is the NBA’s only Black owner. He purchased the expansion team from Bob Johnson for $180 million in 2010. The team had a net worth of $1.7 billion after the 2021-22 season, according to Forbes.
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