AP
CHARLOTTE, N.C. — The NBA Board of Governors has voted to approve Michael Jordan’s sale of the Charlotte Hornets to an ownership group led by Gabe Plotkin and Rick Schnall, according to a person familiar with the situation.
The person spoke to The Associated Press on Sunday on condition of anonymity because the sale won’t become official for at least another week.
The decision ends Jordan’s 13-year run as majority owner of the franchise. He will remain on as a minority owner.
Jordan agreed to sell the team on June 16. However, when an NBA owner decides to sell it first must be approved by the league’s Board of Governors.