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Axios
Axios
Sport

Michael Jordan cashes in on Hornets sale

Hornets NBA
Note: The Commanders' sale is still awaiting league approval. Data: Sportico; Chart: Rahul Mukherjee/Axios

Michael Jordan agreed on Friday to sell his majority stake in the Charlotte Hornets at a $3 billion valuation, ending his 13-year run as the team's owner.

Why it matters: That's the seventh-most expensive sale price ever for a sports franchise. Six of the seven richest sales have come in the past 13 months.

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