Michael Jordan sells Charlotte Hornets majority interest

Friday's announcement that Michael Jordan is selling the majority stake of the Charlotte Hornets leaves the NBA without any Black majority ownership.

It's unclear how long the NBA Board of Governors will take to ratify the sale. Jordan expects to retain a minority share in the Hornets, which he acquired for $275 million in 2010.

Charlotte's 423-600 record in his 13 seasons was 26th-best. In that period, has never won a playoff series and hasn't made the playoffs in seven seasons.

Jordan was worried by the Hornets' troubles. He sold a minority share to Plotkin and Sundheim in 2020, signaling his desire to leave NBA ownership.

Charlotte returned to the playoffs in 2013-14 but was swept by the Miami Heat. Two years later, the Hornets won 48 games but fell to the Heat again in the first round.

In the seven years afterwards, Jordan's Hornets have had just one winning season and twice lost early in the play-in round as the 10 seed.

Charlotte has not won a playoff series since 2001-02 or an NBA title.