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Michael Jordan agrees to sell a portion of the Charlotte Hornets
Following an incredible career in the NBA, Michael Jordan became part-owner of the Charlotte Hornets (then Bobcats) back in 2006. The former Chicago Bulls star then bought a controlling interest in 2010, although the organization has announced that Jordan will sell a portion of the Hornets to two investors:
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Hornets Sports & Entertainment Chairman Michael Jordan today announced that Gabe Plotkin, Founder and Chief Investment Officer, Melvin Capital, and Daniel Sundheim, Founder and Chief Investment Officer of D1 Capital, will join HSE as partners. The transaction is subject to NBA approval.
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The sale is pending NBA approval and Jordan has stated that he will continue to run the team. Since Jordan became involved with the Hornets back in 2006, the franchise has made just three trips to the postseason and has just a 42% win rate.
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