Michael Jordan's time as majority owner of the Charlotte Hornets appears to be officially over, now that the NBA's board of governors reportedly approved the sale of the organization to a group led by Rick Schnall and Hornets minority owner Gabe Plotkin.
The vote to end six-time NBA champion Michael Jordan's 13-year tenure as majority owner was 29-1, with New York Knicks team owner James Dolan being the only objector, according to ESPN's Adrian Wojnarowski. The purchase, at an approximate $3 billion valuation, is expected to be finalized within two weeks.