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Charlotte Hornets owner Michael Jordan could sell majority stake in team, report says

Jordan, a 14-time NBA all-star, has owned a majority stake in the Charlotte Hornets since 2010.

CHARLOTTE, N.C. — Michael Jordan could soon be selling his majority stake in the Charlotte Hornets.

According to ESPN's Adrian Wojnarowski, Jordan is in "serious talks" with Gabe Plotkin, a Hornets minority owner, and Rick Schnall, an Atlanta Hawks minority owner. WCNC Charlotte has reached out to the Hornets to independently verify, but we have not received a response.

No details on any deals are known at this time. However, Wojnarowski states a sale would place Plotkin and Schnall would be co-owners. Jordan would still stay on as a minority owner, according to Wojnarowski.

Jordan bought a majority stake in the then-Charlotte Bobcats in 2010 from former owner Robert L. Johnson. During this time, he's been the only black majority owner in the NBA.

In 2006, Jordan bought a minority stake in the Bobcats. 

During Jordan's time as owner, the Hornets/Bobcats have held roughly a 418-600 record and had only four winning seasons. Only two of those seasons have translated into playoff berths, both being first-round exits. An absolute low point came during the 2011-12 NBA season when the Bobcats went 7-59, holding the worst record in NBA history.

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Before owning the Hornets/Bobcats, Jordan was a 14-time NBA All-Star, six-time NBA champion, five-time NBA MVP, and collected numerous accolades as one of the greatest players in NBA history. 

Plotkin runs Melvin Capital Management, a hedge fund firm, according to Forbes.

Schnall is a co-president of Clayton, Dubilier, & Rice, an investment firm.

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