Michael Jordan in talks to sell majority stake in Hornets / News - Basketnews.com

Michael Jordan is in serious talks to sell a majority stake in the Charlotte Hornets to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall.

Credit: 2022 Getty Images-SCANPIX Credit 2022 Getty Images-SCANPIX

The Charlotte Hornets owner Michael Jordan is in serious talks to sell a majority stake in the franchise, Adrian Wojnarowski from ESPN reports.

According to the report, Jordan discusses a potential deal with a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall.

There's significant momentum on a sale that would eventually install Plotkin and Schnall as the co-governors of the Hornets, sources said.

If a sale is completed, Jordan is expected to remain with a minority stake in the franchise, sources said.

Selling a majority share of the Hornets would mark the end of Jordan's 13-year run as owner. He paid $275 million for a majority stake in the franchise in 2010.

Schnall, co-president at the private equity firm of Clayton, Dubilier & Rice in New York, was part of a group that includes majority owner Tony Ressler and Grant Hill that purchased the Hawks in 2015 for $850 million.

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