(Nuccio DiNuzzo / Chicago Tribune)
CHARLOTTE, N.C. — The sale of the majority stake of the Charlotte Hornets from six-time NBA champion Michael Jordan to Gabe Plotkin and Rick Schnall has been finalized, the team announced Thursday.
The Hornets planned to introduce Plotkin and Schnall at a news conference later in the day.
Jordan, who has owned the team for the past 13 years, said in a news release that it was a “tremendous honor” to own the Hornets but didn’t give an explanation for why he sold the franchise.
He will remain on as a minority owner.