NBAGOATMichael Jordanhas agreed to sell his majority stake in theCharlotte Hornetsfor an undisclosed sum.
It ends his 13-year run as majority owner.
The agreement, which has been in the works for months, was announced this morning by the Bobcats.
Charlotte Hornets owner Michael Jordan looks in 2023Jacob Kupferman/Getty Images
Five years later, he bought a majority stake for about $275 million, according totheRobb Report.
At the time, he was the only Black majority owner in the league.
Earlier this year,Forbesvalued the Hornets at about $1.3 billion.
So whatever the percentage, Jordan is making a handsome profit on his investment.
