Michael Jordan is in negotiations to stop being the largest shareholder of the Charlotte Hornets, ESPN said Thursday.
Adrian Wojnarowski, one of the journalists with the best sources and contacts within the NBA, pointed out that Jordan is negotiating the sale of the majority of the shares of this franchise to a group headed by Gabe Plotkin, who is already a minority shareholder of the Hornets, and Rick Schnall, who has a stake in the Atlanta Hawks.
"No deal imminent, but there is significant momentum in a sale that would eventually install Plotkin and Schnall as co-governors of the Hornets."Wojnarowski explained. Jordan would not give up on the Hornets entirely as he would remain with the Charlotte team as a minority shareholder.
The legendary former player is the only African-American to own an NBA team and became a majority shareholder in the Hornets in 2010, shelling out $275 million.
However, the six-time NBA champion with the Chicago Bulls has had no luck in the offices.
The Hornets have only qualified for the playoffs three times since 2010, in all of them they lost in the first round and they have also chained seven consecutive seasons without playing the playoffs (mathematically they are already out this year because they are penultimate in the Eastern Conference with a sad balance of 22-49).