Michael Jordan sells Hornets majority stake

Michael Jordan is finalizing a sale of the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall, ending his 13-year run as majority owner. An agreement is expected to be signed soon.

Plotkin, a minority owner with the Hornets, and Schnall, who had been a minority owner with Atlanta, will become the franchise’s governors once the NBA completes its vetting and approval process.