Michael Jordan is no longer an NBA owner.
After 13 years of being a majority owner for the Charlotte Hornets, Jordan has officially sold his share. Jordan sold his share to an ownership group that included Hornets minority owner Gabe Plotkin, Atlanta Hawks minority owner Rick Schnall as well as rapper J.Cole and country music singer Eric Church.
The deal will be official in the coming days as news broke of it on Friday.
Jordan had a successful college and then professional playing career before turning his attention to being an owner. He joined the Hornets 13 years ago but did not find success as an owner in the NBA. Under his ownership, the Hornets made the playoffs just two times in 13 years.
While he’s selling a majority of his share, Jordan will keep a minority share of the team.
Charlotte is scheduled to have the No. 2 overall pick in the 2023 NBA draft next week.
Source: Yahoo Sports