Michael Jordan's NBA ownership tenure is over.
The Hall-of-Famer is reportedly finalizing the sale of the Charlotte Hornets to a group led by minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall, according to ESPN's Adrian Wojnarowski.
The sale ends Jordan's 13-year run as the majority owner of the Hornets after he became a part-owner in 2006. During Jordan's time at the helm of the franchise, he changed the name of the team back to the Hornets and became the first former NBA player to become a billionaire. But despite Jordan's investment and influence, Charlotte only made the postseason twice since 2010.