AFTER over a decade, Michael Jordan is close to selling the Charlotte Hornets.
As first reported by ESPN's Adrian Wojnarowski, the six-time NBA champion is close to securing a deal for the Hornets with a consortium ownership group led by business tycoons Gabe Plotkin and Rick Schnall.
The frachise is valued at close to $3 billion.
In the past few years, speculations rose on Jordan's emerging intent to relinquish his role as Hornets majority owner.
READ: Michael Jordan in talks to sell stake in Charlotte Hornets
Such claims gained further traction in June 2020 when Jordan reportedly sold a minority stake in the team to Plotkin.
Three years since, the NBA legend is putting an end to over 13 years at the helm of a Hornets franchise that has had little success under him.
During his time as majority owner, Charlotte reached the playoffs in only three out of 14 seasons – two as the now-defunct Bobcats (2010 and 2014) and just once as the rebranded Hornets (2016).
Charlotte was knocked out in the first round in all three of their postseason runs under Jordan's ownership tenure.
And unfortunately, none of the major player signings under his leadership such as Kemba Walker, Jeremy Lin, and LaMelo Ball were able to consistently steer the team to winning ways.
Jordan's final season as majority team owner saw the Hornets finishing in 14th place in the East with a lackluster 27-55 win-loss record.
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