Field Level Media
(Photo credit: Christopher Hanewinckel-USA TODAY Sports)
Michael Jordan's 13-year run as majority owner of the Charlotte Hornets is set to come to an end as the NBA board of governors approved an ownership shakeup, ESPN reported.
Jordan will remain on board with a minority stake in the franchise, with Rick Schnall and Gabe Plotkin taking over as the franchise's governors. Schnall had been a minority owner of the Atlanta Hawks, while Plotkin was minority owner of the Hornets.
Jordan, a six-time NBA champion and five-time MVP, became majority of owner of the Hornets in 2010 when he paid $275 million.