NBA Legend Michael Jordan is selling his majority steak of the Charlotte Hornets to Gabe Plotkin and Rick Schnall.
Jordan will retain a minority steak of the franchise. He has owned the team since 2010 where he paid an estimated $275 Million. Plotkin has been a minority owner since 2019.
Plotkin is the founder and Chief Investment Officer at Tallwoods Capital LLC. Schnall is the co-president of Clayton, Dubillier & Rice and was a minority owner of the Atlanta Hawks.
The sale is for a reported $3 Billion.