Michael Jordan sells Charlotte Hornets
There had been rumors this week that Michael Jordan may be selling the Charlotte Hornets, as that has now become a reality. According to TMZ, the basketball legend has sold the team to an ownership group which includes businessmen Gabe Plotkin (current Hornets co-owner,) Rick Schnall, J. Cole and country music star, Eric Church.
Jordan had been in ownership of the team since 2006, with a minority stake. As a result, he soon transitioned to a majority stake, in 2010. At the time, the team was still the Charlotte Bobcats. Jordan was able to become a majority owner after making the purchase from BET founder Robert L. Johnson, for $275 million. However, despite this latest sale, Jordan will still be a minority owner of the Hornets.
The Hornets have struggled to make the playoffs lately, as they haven’t made that appearance since the 2015-16 season. This past season, they didn’t even qualify to make the play-in tournament.
For J. Cole, this is another major basketball dream of his. Over the past two years, he was able to play professionally in Africa and Canada, and is now part of the NBA family, in his home state of North Carolina.
Michael Jordan sells Charlotte Hornets
