Michael Jordan is finalizing a deal to sell the majority share of the Charlotte Hornets, a move that will end his 13-year run overseeing the organization, the team announced Friday.
FILE - Charlotte Hornets owner Michael Jordan speaks to the media about hosting the NBA All-Star basketball game during a news conference in Charlotte, N.C., Tuesday, Feb. 12, 2019. Michael Jordan is finalizing a deal to sell the majority share of the Charlotte Hornets, a move that will end his 13-year run overseeing the organization, the team announced Friday, June 16, 2023. Jordan is selling to a group led by Gabe Plotkin and Rick Schnall, the Hornets said.
In that same news conference at the finals, Silver said the Board of Governors are focused on diversity in ownership groups. Charlotte went 423-600 in his 13 seasons in charge, the 26th-best record over that span. It never won a playoff series in that time and hasn't even been to the postseason in the last seven seasons.
When Jordan, who grew up in Wilmington, North Carolina, purchased majority ownership in the team, it created a great amount of buzz. Charlotte's biggest star is LaMelo Ball, and the team still has some decent foundational parts to build around including Terry Rozier, Gordon Hayward, P.J. Washington and Mark Williams, the team's starting center who played well last year as a rookie.
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