• Loading stock data...
Wednesday, October 22, 2025

Potential Sale of Charlotte Hornets Remains Uncertain

  • Jordan’s management company says ‘it is unclear whether’ NBA legend will offload a controlling interest.
  • Jordan sold a minority stake in the team in 2019.
Charlotte Hornets owner Michael Jordan
Kyle Terada-Imagn Images

Michael Jordan’s management company didn’t add much clarity to last week’s report that the NBA legend wants to offload his majority stake in the Charlotte Hornets. 

ESPN reported that Jordan was in serious talks to sell his controlling interest in the franchise he acquired for $275 million in 2010 to a group led by Hornets minority owner Gabe Plotkin.

The Hornets haven’t made a public statement since the story was published last Thursday. 

But on Wednesday, Jump Management issued a statement about the discussions. 

“Four years ago, Michael Jordan sold a stake in the Charlotte Hornets to a Gabe Plotkin-led group,” the statement noted. “As a natural step in a process due to that transaction, Michael and Gabe are in discussions about his group potentially buying an additional stake. At this time, it is unclear whether an additional sale will take place.”

Plotkin, founder of Melvin Capital, and D1 Capital founder Daniel Sundheim in 2019 bought the minority stake from Jordan in 2019. 

ESPN reported the deal was imminent and that Jordan was expected to keep a minimum stake.

The Hornets are valued at $1.7 billion — the 27th-most-valuable of 30 NBA teams, according to Forbes.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

MLB, NBC Leaders Say Broadcast TV Still Matters in Streaming Era

The network and league tout the forthcoming rights deal.
Nov 9, 2024; Avondale, Arizona, USA; 23XI Racing team owner Michael Jordan during qualifying for the Cup Series championship race at Phoenix Raceway.

Jordan Can’t Bar Charter Sales Because NASCAR Agreed Not to Sell Charters

The contentious antitrust suit is slated to go to trial this December.
Michael Jordan

Texts From Michael Jordan, NASCAR Bosses Aired Out in Court: ‘I Have..

Jordan said he plans on “going down with fire” against NASCAR.

Featured Today

Christie's

Lou Gehrig’s $4M Jersey and the Exploding Sports Memorabilia Market

An ultra-rare sports collection is about to hit the auction block.
@chef__tezz/Instagram
October 19, 2025

Inside the NFL’s Private Chef Network

Private chefs are the unsung architects of player performance.
October 18, 2025

How Vanderbilt Went From SEC Doormat to Dark Horse CFP Candidate

After beating LSU, Clark Lea said: “Internally, we expect to win.”
May 27, 2025; Indianapolis, Indiana, USA; Indiana Pacers guard T.J. McConnell (9) shoots a three point basket over New York Knicks guard Josh Hart (3) during the third quarter of game four of the eastern conference finals for the 2025 NBA Playoffs at Gainbridge Fieldhouse
October 18, 2025

NBA Stars Swap Wine With League Friends and Foes

A wine-exchange tradition emerged from the bubble season’s close quarters.
Louisville’s Miller Moss and several of his teammates stopped by Olympus Gaming Lounge to play EA Sports College Football 26 with fans for a meet and greet. July 11, 2025

Saudis, Silver Lake, Jared Kushner Take EA Private in $55B Deal

Electronic Arts makes “Madden,” “EA Sports College Football,” and more.
Apr 26, 2025; San Francisco, California, USA; Houston Rockets guard Fred VanVleet (5) before game three of first round for the 2024 NBA Playoffs against the Golden State Warriors at Chase Center.
June 25, 2025

Rockets Get $20 Million in Wiggle Room From New VanVleet Deal

VanVleet first signed with the Rockets in 2023.
July 6, 2025

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
Sponsored

Michelle Wie West: Women’s Sports Doesn’t Need Charity

The LPGA legend on redefining women’s sports and the future of golf.
June 24, 2025

Timberwolves’ 4-Year Ownership Saga Ends As A-Rod, Lore Take Over

The unanimous approval brought a clean end to a long-disputed transaction.
April 20, 2025

Max Verstappen Linked to $300M Aston Martin Deal Ahead of Miami GP

Aston Martin is currently seventh in the constructors championship.
March 27, 2025

Peyton Manning’s Omaha Productions Gets PE Boost

The Hall of Famer’s company gains another prominent backer.
March 20, 2025

High School Sports Power Signs Eight-Figure Rights Deal in First

The deal pays roughly $1 million annually, FOS has learned.