CHARLOTTE, N.C. (CHARLOTTE SPORTS LIVE) – Late last week, a report surfaced that Hornets owner Michael Jordan was in ‘serious talks’ about selling a majority stake of the franchise.
On Wednesday, March 22, Jump Management (Jordan’s family office) confirmed that report to be ‘a natural step in a process.’
Jump Management released the following statement to Charlotte Sports Live:
“Four years ago, Michael Jordan sold a stake in the Charlotte Hornets to a Gabe Plotkin-led group.
As a natural step in a process due to that transaction, Michael and Gabe are in discussions about his group potentially buying an additional stake.
At this time, it is unclear whether an additional sale will take place.”
The initial report said the stake would be sold to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall.
No deal is imminent and Plotkin and Schnall would be name co-governors if the sale happens; Jordan would maintain a minority stake.