Michael Jordan’s time as majority owner of the Charlotte Hornets is officially in the books. A few weeks back a report surfaced that Jordan was selling a majority stake in the Hornets, the sale has officially been approved.
ESPN’s Adrian Wojnarowski reported on Sunday that the NBA’s Board of Governors have approved the sale for approximately $3 billion to a group led by Rick Schnall and Gabe Plotkin. Only New York Knicks owner James Dolan voted against the sale per the report.
Jordan will maintain a small share of ownership with the Hornets after the sale.