Michael Jordan sold the Charlotte Hornets – Kommersant
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National Basketball League (NBA) Charlotte Hornets announced about the change of ownership. Club legend Michael Jordan sold a majority stake in the Hornets to a group of investors led by Gabe Plotkin and Rick Schnall. As part of the deal, the team was valued at $3 billion. At the same time, Mr. Jordan himself will remain a minority shareholder of the club.
Michael Jordan became the owner of the Hornets (then called the Charlotte Bobcats) in 2010 with a $275 million majority stake. He was the first former NBA player to afford it and the only black club owner in the league. .
The results of the Hornets under the management of Michael Jordan are not impressive: 423 wins with 600 losses, only three playoff appearances and not a single series won.
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