Jordan bought the team for $275 million in 2010 and is reportedly selling it for around $3 billion.
CHARLOTTE, N.C. — Michael Jordan is finalizing a deal to sell the majority share of the Charlotte Hornets, a move that will end his 13-year run overseeing the organization, the team announced Friday.
It’s... CHARLOTTE, N.C. — Michael Jordan is finalizing a deal to sell the majority share of the Charlotte Hornets, a move that will end his 13-year run overseeing the organization, the team announced Friday. It’s not clear how long the process of selling will take to finalize by the NBA’s Board of Governors. Jordan is expected to keep a stake in the Hornets, the team he bought in 2010 for about $275 million.“In the same way that it’s wonderful that one of our greatest, Michael Jordan, could become the principal governor of a team, he has the absolute right to sell at the same time,” NBA Commissioner Adam Silver said earlier this month at the NBA Finals.
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