Basketball emperor Michael Jordan is stepping down as owner of the NBA team Charlotte Hornets.
Local media, including ESPN, reported on Saturday that Jordan had sold most of his shares in the Hornets. The team made the announcement shortly afterward.
The move marks Jordan’s departure from the Hornets after 13 years of ownership.
Jordan sold the team to an investment group led by two businessmen, Gabe Plotkin and Rick Schnell. Plotkin has a partial ownership stake in the Hornets, while Schnell owns the Atlanta Hawks.
Plotkin and Schnall will assume substantial control of the Hornets, subject to approval by the league office.
Jordan isn’t cutting ties with the Hornets entirely. ESPN reports that Jordan still owns a portion of the team and will have a presence. In the immediate future, he will oversee the team’s operations through the NBA Draft, which is next week, and free agency, which begins July 1.메이저놀이터
Jordan, a six-time NBA champion and five-time MVP, became owner of the Hornets in 2010 after acquiring a majority stake in the team for $275 million. He became the first black owner in NBA history.
The team’s performance has been mixed. The team has only made the playoffs twice since the 2010-11 season.
After winning 43 games in 2021-22, their most since 2015-16, the team abruptly fired head coach James Borrego and rehired Steve Clifford, who went 27-55 in 2022-23.