After 13 years, Michael Jordan’s time as the majority owner of the Charlotte Hornets has come to an end. The majority stake of Hornets Sports & Entertainment will now belong to a group led by Gabe Plotkin and Rick Schnall following the NBA Board of Governors’ approval of the sale. Jordan will still remain a minority shareholder in the franchise in addition to serving as the organization’s alternate governor.
This is not the first foray into NBA governorship for Plotkin and Schnall. Plotkin originally held a minority stake in the franchise before making the move to become part of a majority-owning group.