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. Jordan's decision to sell leaves the 30-team NBA without any Black majority ownership.
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 be finalized 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.
"I would love to have better representation in terms of principal governors," Silver said."It's a marketplace. It's something that if we were expanding that the league would be in a position to focus directly on that, but in individual team transactions, the market takes us where we are." by signing up you agree to our terms of service Through spokesperson Estee Portnoy, Jordan declined comment.
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