The NBA legend offered a part of the team come two new York-based investors but will remain bulk owner of the Hornets. 

Michael Jordan will offer a part of the Hornets come two brand-new York-based investors but will remain majority owner, the team announced in a declare on Saturday.

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The transaction is subject to NBA approval.

"I'm excited come welcome Gabe and also Dan together my partners in Hornets sporting activities & Entertainment," Jordan claimed in the statement. “"While ns will continue to run the Charlotte Hornets, make all decigendergeek.orgons concerned the team and also organization, and remain the team's NBA Governor, Gabe and also Dan's invest in the franchise is invaluable, as we continue to modernize, add new technology and also strive to complete with the best in the NBA."

The Charlotte Observerreports Jordan controls around 97% that Hornets equity. He ended up being a minority owner in the then-Bobcats in 2006 and also bought the team from gambling co-founder Bob Johnson in 2010.



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Forbes approximates the Hornets are worth roughly $1.3 billion, listing them in ~ 28th amongst the 30 NBA franchises. The Knicks room the most an useful team and also worth $4 billion.

The Hornets finished last season at 9th in the east at 39–43. The team start the 2019-20 season without star Kemba Walker, that gendergeek.orggned a four-year, $141 million best contract through the Celtics this summer the end of his degendergeek.orgre to advance deep into the playoffs.


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