CHARLOTTE, N.C. (QCN/CSL) – Hornets owner Michael Jordan is in ‘serious talks’ to sell a majority stake of the franchise, according to ESPN.

The report says the stake would be sold to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall.

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No deal is imminent and Plotkin and Schnall would be name co-governors if the sale happens, per the report. Jordan would maintain a minority stake.

Details are extremely limited; this story will be updated as they’re received.

This is a developing story; check back for updates.