Jordan in talks to sell majority stake in Charlotte Hornets.

Report: Michael Jordan preparing to sell majority stake of Charlotte Hornets. Michael Jordan is preparing to sell the Charlotte Hornets. Jordan is engaged in serious talks to sell a controlling portion of the franchise to an ownership group led by current minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall, according to ESPN’s Adrian Wojnarowski. Specifics of that deal are not yet known, though a sale is not imminent. Jordan is expected to keep a minority stake in the team, but Plotkin and Schnall would become co-governors. Jordan first became a minority owner in the franchise in 2006, shortly after his Hall of Fame playing career ended. He then purchased the then-Bobcats in 2010 for $275 million. The team has made the playoffs just three times since Jordan took over as the majority owner, but they have never made it out of the first round.