The NBA board of governors approved the sale of the Charlotte Hornets to a group led by Rick Schnall and Gabe Plotkin over the weekend. The agreement values the team at roughly $3 billion and will end Michael Jordan’s 13-year run as the club’s majority owner. The deal is expected to close next month with Jordan remaining a minority investor.
The sale of the Hornets is the biggest score yet for Jordan, who has a history of blockbuster paydays since he entered the NBA in 1984.
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