Michael Jordan has spoken for the first time since selling his majority stake in the Charlotte Hornets to an investor group led by businessmen Rick Schnall and Gabe Plotkin.
"As I transition into a minority ownership role, I'm thrilled to be able to pass the reins to two successful, innovative and strategic leaders in Gabe and Rick. I know the Hornets organization is in great hands moving forward," Jordan stated.
The six-time NBA champion said that the opportunity to be the majority owner of the Charlotte Hornets in his home state of North Carolina for the last 13 years has been a tremendous honor.
Jordan took pride in everything the organization accomplished during his tenure, including the return of the Hornets name, Charlotte hosting the 2019 NBA All-Star Game, and Hornets Sports & Entertainment (HSE) becoming a true pillar of the Charlotte community.
The 50-year-old also praised the unwavering commitment, passion, and loyalty of Hornets fans.
The namesake of perhaps the most popular shoe line in the world ended his statement by saying that he is excited about the future of the team and that he will continue to support the organization and the community in his new minority owner role in the years ahead.
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Michael Jordan nets billions from the sale
The sale of Jordan's majority ownership stake was officially completed today, effectively ending the Bulls legend's controlling powers in the team.
Michael Jordan’s sale of a majority stake in the Charlotte Hornets to a group led by Rick Schnall and Gabe Plotkin is completed, team says. NBA Board of Governors recently approved the new ownership group, sources said.
— Adrian Wojnarowski (@wojespn) August 3, 2023
The greatest basketball player of all time reportedly netted $3 billion from the sale, according to Forbes.
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