Charlotte Hornets owner Michael Jordan has agreed to sell a portion of the team to a pair of investors, the team announced in a release Saturday.
The sale is pending NBA approval. Terms of the deal have not been released.
Jordan is bringing in Gabe Plotkin, a founder of Melvin Capital, and Daniel Sundheim, a founder of DI Capital, as partners in Hornets Sports & Entertainment, of which Jordan is chairman. He will not be giving up majority control of the team.
Jordan said he will "continue to run the Charlotte Hornets, make all decisions related to the team and organization, and remain the team's NBA Governor.