Michael Jordan's 13-year ownership of the Hornets ends as NBA approves sale

Michael Jordan's 13-year ownership of the Charlotte Hornets will come to an end as the NBA's Board of Governors approves the sale of the team to a group led by Rick Schnall and Gabe Plotkin for approximately $3 billion. Jordan, the league's lone Black majority owner, will maintain a minority ownership stake. During his tenure, the Hornets had a disappointing record and made only three playoff appearances. The team's new governors include recording artists J. Cole and Eric Church.