2023-07-24 00:22:38
The sale of Michael Jordan’s majority stake in the Charlotte Hornets has been approved by NBA governors.
This is what the ESPN network learned on Sunday.
The sale to a consortium of buyers led by Gabe Plotkin and Rick Schnall would be around $3 billion.
Jordan became one of the minority owners of the Charlotte organization in 2006, when the team was called the Bobcats. He became the majority owner of the club in 2010, for a sum of around $250 million.
The former star player of the Chicago Bulls will retain minority shares in the team.
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Until recently, Schnall was a minority owner of the Atlanta Hawks, while Plotkin already owned shares in the Hornets.
Also according to ESPN, only one team opposed the sale, the New York Knicks. The sale should officially close within the next two weeks.
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