Michael Jordan’s $3 billion sale of the Charlotte Hornets to minority owner Gabe Plotkin has been APPROVED by the NBA board of directors, paving the way for the deal to close
Michael Jordan’s $3 billion sale of the Charlotte Hornets to minority owner Gabe Plotkin has been APPROVED by the NBA board of directors, paving the way for the deal to close
Michael Jordan’s $3 billion sale of the Charlotte Hornets to a group led by Rick Schnall and Gabe Plotkin has been approved by the NBA’s board of directors, a source with knowledge of the deal confirmed to DailyMail.com.
The sale is expected to be completed in the coming weeks and Jordan is expected to retain a minority stake in the club.
News of the sale’s approval was first reported by ESPN.
It was first reported in March that Jordan was in talks to sell the team to Plotkin and Schnall.
Jordan bought the majority stake in his home state’s NBA team for $275 million in 2010.
Michael Jordan’s sale of the Charlotte Hornets to minority owner Gabe Plotkin has now been approved
Rick Schnall (right) also buys a portion of Jordan’s stake in the Charlotte Hornets