Media: NBA owners approve Jordan’s sale of Hornets
Wanting to relinquish his status as majority owner of the Charlotte Hornets: Michael Jordan.
Photo: Gerry Broome/AP/dpa
According to media reports, the owners of the NBA teams have cleared the way for Michael Jordan’s planned sale of the Charlotte Hornets.
Charlotte/New York. According to media reports, the owners of the NBA teams have cleared the way for Michael Jordan’s planned sale of the Charlotte Hornets.
This was reported by the ESPN TV channel and the AP news agency, citing internal sources on Sunday evening (local time). Accordingly, 29 of 30 owners have approved the plans – only James Dolan, the owner of the New York Knicks, is said to have spoken out against it.
Basketball legend Jordan wants to relinquish his status as majority owner of the NBA club, as he clarified in June. The 60-year-old agreed to sell the North Carolina team to a group led by investment bankers Gabe Plotkin and Rick Schnall after 13 years as owner of the North Carolina team.
Jordan remains involved
Plotkin was already a minority owner of the Hornets, while Schnall owned part of the Atlanta Hawks. Both will take control once the owners of the other NBA franchises agree to the deal. Jordan is said to retain a minority stake in the Hornets.
The former Chicago Bulls basketball legend acquired his majority stake in 2010 for around $275 million. The sporting success of the franchise has not materialized in the 13 years since then. It is not yet clear what amount Jordan will receive from the sale.
( © dpa-infocom, dpa:230724-99-512310/3 (dpa) )
2023-07-24 10:38:17
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