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 to CNBC on Friday.
Jordan will retain minority ownership as part of the deal. The terms of the deal were not disclosed.
Jordan’s representatives did not immediately respond Friday to requests for comment from NBC News.
Jordan secured a majority stake in the Hornets in 2010 for $275 million. He previously had minority interest in the team, CNBC reports.
Jordan is arguably the greatest professional basketball player to ever live. He won six championships with the Chicago Bulls.
This is a developing story. Please check back for updates.
Source: | This article originally belongs to Nbcnews.com
