NBA: Charlotte Hornets Sale Gets Approval

Michael Jordan’s 13-year run as NBA team owner ends, per report. Michael Jordan 13 year tenure as the majority owner of the Charlotte Hornets will officially come to an end in the next few weeks after the NBA’S Board of Governors approved a sale to a group led by Rick Schnall and Gabe Plotkin for a valuation of approximately $3 billion, according to Adrian Wojnarowski. The vote on the sale was 29-1 with the New York Knicks owner James Dolan the lone dissenting voice.

Michael Jordan who bought the Hornets for $180m in 2010, will remain a minority owner but the sporting legend's decision to sell leaves the NBA without a majority owner.

Charlotte went 423-600 under Jordan, the 26th-best record over that span.

The Charlotte Hornets never won a playoff series in that time and haven’t been to the postseason in the past seven seasons.

The sale price is reportedly around $3 billion according to ESPN, As an owner Jordan never came close to matching his success as a player, where he won six NBA titles with the Chicago Bulls while becoming one of the game’s most outstanding players ever.