Michael Jordan is selling the majority stake in his NBA team, according to a media report.
The selling price is said to be around three billion dollars. He originally paid $275 million for his stake in the Charlotte Hornets.
Jordan will remain with the team with a minority stake, according to the report.
Michael Jordan has agreed to sell its majority stake in NBA team Charlotte Hornets. Again US TV station “ESPN” reported, the selling price should be about three billion dollars. The buyers are a group led by hedge fund founder Gabriel Plotkin and US entrepreneur Rick Schnall.
Former basketball player Jordan was himself a six-time NBA champion and is considered one of the greatest players in basketball history. During his active career, the 60-year-old received the award for the most valuable player in the Bundesliga five times NBA.
Jordan has been the main owner of the Charlotte Hornets for 13 years. As “ESPN” reports, he paid $275 million for his participation in 2010. So Jordan should make the investment more than $2.7 billion. But that’s not all: As early as 2020, according to the report, he sold a significant minority stake.
According to ESPN, Jordan will not completely turn his back on the Charlotte Hornets. Even after the sale, he wants to keep a minority stake.
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