Michael Jordan is selling his majority ownership of the Charlotte Hornets to investors Gabe Plotkin and Rick Schnall, a representative for Jordan tells CNBC.
Jordan will retain minority ownership as part of the deal, the Hornets said. The terms of the deal were not disclosed.requests for comment from NBC News.
Schnall is co-president of Clayton, Dubilier & Rice LLC, where he has worked for 27 years, and has been a minority owner of the Atlanta Hawks and an alternate governor on the NBA Board of Governors since 2015, the Hornets said.
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