Michael Jordan engaged in talks to sell majority of stake in Hornets

Basketball legend Michael Jordan is in talks to sell a major part of his stake in the Charlotte Hornets.

Jordan is talking to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall, sources told ESPN on Thursday.

No deal is imminent, but there’s significant momentum on a sale that would eventually install Plotkin and Schnall as the co-governors of the Hornets, sources said.

If a sale is completed, Jordan is expected to remain with a minority stake in the franchise, sources said.