Michael Jordan in talks to sell majority stake in Hornets to hedge fund billionaire.
TL;DR
Michael Jordan is reportedly in talks to sell his majority stake in the Charlotte Hornets to a consortium led by Gabe Plotkin, the hedge fund billionaire at the center of the GameStop saga. Plotkin and Rick Schnall, minority owners of the Hornets and Atlanta Hawks, respectively, are leading the consortium. Jordan would keep a minority stake if the deal is completed. The Hornets were valued at $1.7 billion by Forbes in October and currently have a 22-49 record.
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