Headlines
Sources: Michael Jordan to Sell Part of Hornets

Michael Jordan has agreed to sell a large piece of the Charlotte Hornets to two New York-based investors, a sale expected to close in the next few weeks that was first reported by the Observer.
A source familiar with the deal said it does not involve the former NBA Most Valuable Player giving up majority ownership of the NBA franchise. Jordan controls about 97 percent of Hornets equity, two sources confirmed.
Jordan is bringing in Gabe Plotkin, a founder of Melvin Capital, and Daniel Sundheim, a founder of DI Capital. Both prospective owners must be approved by the NBA, but that process is already underway and the sale is expected to close quickly, a league source confirmed.
Source: Rick Bonnell of the Charlotte Observer
Add Basketball Insiders to your Google News Feed!
-
Main Page 1 week ago
Michael Jordan Buys $3.5 Million Custom Venom F5 Roadster, 300 MPH Sports Car
-
College Basketball 1 week ago
Bronny James Prom Date: Who is Girlfriend, Peyton Gelfuso?
-
NBA 5 days ago
LA Lakers Believe Lonzo Ball’s Potential Career-Ending Injury Caused By Big Baller Brand Shoes
-
Headlines 5 days ago
Dallas Mavericks Not Interested in Pursuing D’Angelo Russell