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Daily Mirror
Daily Mirror
Sport
Joshua Mbu

Michael Jordan finalising Charlotte Hornets sale as NBA legend to secure huge sum

Michael Jordan Hornets NBA Charlotte the Charlotte Hornets Rick Schnall

Michael Jordan's 13-year majority ownership of the NBA franchise, the Charlotte Hornets, is set to come to an end with the basketball legend reaching an agreement over a sale.

The NBA icon, 60, bought the Hornets for $275 million in 2010 and despite very little on-court success, Charlotte are now worth an eye-watering $1.77 billion, which would see Jordan make a tidy profit north of one billion dollars.

Jordan will sell his majority stake in the Hornets to a group led by Gabe Plotkin and Rick Schnall, with the former already a stakeholder in the NBA franchise. Schnall also has NBA experience, being a minority owner with the Atlanta Hawks.

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