Once upon a time, North Carolina native and Grammy-winning rapper J. Cole was a pretty good basketball player.
Now, he’ll own an NBA team.
On Friday, the Charlotte Hornets announced that MIchael Jordan was selling the franchise he had owned for 13 years. The new ownership group is led by current Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall, who will acquire a majority stake in the team.
Jordan will retain a minority stake in the team, which Forbes estimated was worth $1.7 billion last year.