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Jordan will remain on board with a minority
stake in the franchise, with Rick Schnall and Gabe Plotkin
taking over as the franchise's governors. Schnall had been a
minority owner of the Atlanta Hawks, while Plotkin was minority
owner of the Hornets.
Jordan, a six-time NBA champion and five-time MVP, became
majority of owner of the Hornets in 2010 when he paid $275
million. When the current sale of the Hornets officially is
executed at some point next month, it will come at a price tag
of $3 billion.
Jordan grew up in Wilmington, N.C., and attended North Carolina
where he helped the Tar Heels to the 1982 NCAA title as a
freshman. He played 13 seasons with the Chicago Bulls after he
was the No. 3 overall draft pick in 1984 and played his final
two seasons with the Washington Wizards after a three-year
retirement.
--Field Level Media
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