Field Level Media
(Photo credit: Darren Yamashita-USA TODAY Sports)
The NBA's Board of Governors officially approved Michael Jordan's sale of a majority stake in the Charlotte Hornets to Rick Schnall and Gabe Plotkin, the franchise announced Thursday.
The reported price tag for assuming control of the Hornets was approximately $3 billion. The vote on the sale was29-1, with New York Knicks owner James Dolan serving as the lone objection.
Jordan, who will remain on board with a minority stake in the franchise, became majority of owner of the Hornets in 2010. He had been the league's lone Black majority owner.