Michael Jordan To Sell Part of Hornets To Investors

Michael Jordan is set to sell a “large piece” of the Charlotte Hornets to two New York-based investors, according to Rick Bonnell of The Charlotte Observer. 

Jordan, who currently owns 97% of the team, will retain majority ownership.

“While I will continue to run the Charlotte Hornets, make all decisions related to the team and organization, and remain the team’s NBA Governor, Gabe and Dan’s investment in the team is invaluable,” Jordan said in a statement released by the Hornets. “Gabe and Dan are industry standard-setters and proven leaders, with a belief in philanthropy and a passion for basketball. They share my commitment to Charlotte and the Carolinas.”

Bonnell adds that the league is expected to quickly approve of Gabe Plotkin and Daniel Sundheim as minority owners.

Forbes estimated that the Hornets were worth $1.3 billion.

Sources close to Jordan add that he plans to own the Hornets “for a long time.” 

Lets take a look at Jordan as 38 year old with 51 points with the Washington Wizards