Retired basketball superstar Michael Jordan is selling his majority ownership of the Charlotte Hornets to investors Gabe Plotkin and Rick Schnall, a representative for Jordan confirmed. CNBC Friday.
Jordan will retain minority ownership as part of the deal. Terms of the deal were not disclosed.
Jordan’s representatives did not immediately respond to NBC News’ requests for comment Friday.
Jordan acquired a majority stake in the Hornets in 2010 for $275 million. He previously had a minority interest in the team, reports CNBC.
Jordan is arguably the greatest professional basketball player to ever live. He won six championships with the Chicago Bulls.
This is a developing story. Check back for updates.
