Michael Jordan, the NBA's only Black majority owner, finalizing sale of Charlotte Hornets: sources

[True Dough]

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, league sources told ESPN on Friday.

An agreement is expected to be signed in the coming days, sources said.

Schnall, a minority owner with the Atlanta Hawks, and Plotkin, a minority owner with the Hornets, will become the franchise's governors once the NBA completes its vetting and approval process. Jordan will continue to oversee basketball operations through next Thursday's NBA draft and the start of free agency on July 1.

Once the sale is complete, Jordan is expected to keep a minority stake and a presence with the franchise, sources said.

https://www.espn.com/nba/story/_/id/37863644/sources-michael-jordan-finalizing-charlotte-hornets-sale

[jmowreader]

1. MJ is a NASCAR owner now

He is half owner of 23XI Racing, along with NASCAR Cup owner Denny Hamlin. (The team is named after their numbers - MJ you know, and the XI, the Roman numerals for 11, is Hamlin’s number.)

[True Dough]

2. Didn't know that

But it doesn't surprise me. Jordan is a competitive individual (I know, that's an understatement) so I'm not surprised he has another outlet.

[jmowreader]

4. He appears to be having the time of his life

NASCAR has gotten away from the old "have the crew chief sit on top of the pit toolbox" thing they used to do, and now they've got these raised platforms with canopies. The drivers' wives and invited guests, as well as the members of the team involved in race strategy, sit there. Pretty much every race I've seen this year MJ is up there.

He fields two cars: the 23, driven by Bubba Wallace, and the 45, driven by Tyler Reddick. He also runs a part-time car for Travis Pastrana and Kamui Kobayashi. Bubba has two Cup Series wins, Tyler has four. So far this season Tyler won at the Circuit of the Americas, and Bubba hasn't yet won.

[True Dough]

3. Update:

Link to tweet

[True Dough]

5. It should be noted

Jordan did very well for himself in the deal...

Link to tweet

[ProfessorGAC]

6. He's Also Not Fully Relinquishing Ownership

ESPN reported that he will still hold a modest minority share. His selling enough to let the buyers have majority control.