Charlotte Hornets owner Michael Jordan is engaged in serious talks to sell a majority stake in the franchise to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall, sources told ESPN on Thursday.
No deal is imminent, but there's significant momentum on a sale that would eventually install Plotkin and Schnall as the co-governors of the Hornets, sources said.
If a sale is completed, Jordan is expected to remain with a minority stake in the franchise, sources said.
Jordan, a six-time NBA champion and five-time MVP, is considered the greatest player in the history of the game and he has been the league's only Black majority owner.