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Fortune

Steve Mollman

Michael Jordan is reportedly close to selling his NBA franchise to the hedge fund billionaire at the center of the WallStreetBets/GameStop saga

Michael Jordan GameStop NBA Gabe Plotkin Hornets Melvin Capital the Charlotte Hornets ESPN Citadel Pandemic

(Credit: Aurelien Meunier—Getty Images)

Michael Jordan paid $275 million for a majority stake in the Charlotte Hornets in 2010. Now the NBA legend, according to ESPN, is in talks to sell that stake to a consortium led by Gabe Plotkin and Rick Schnall, minority owners of the Hornets and Atlanta Hawks, respectively.

Plotkin might be familiar to Fortune readers in another context. The hedge fund billionaire was at the center of the GameStop saga at the height of the meme-stock frenzy during the pandemic.

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