Michael Jordan sells portoin of Hornets to pair of investors

Michael Jordan has been the majority governor of the Charlotte Hornets since March 2010. Since then, the Hall of Famer has been in control of the franchise for more than the last decade.

However, Michael Jordan has elected to make a notable move involving the team. He has agreed to sell a portion of the team to a pair of investors over this past weekend, according to ESPN.

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Charlotte Hornets owner Michael Jordan has agreed to sell a portion of the team to a pair of investors, the team announced in a release Saturday.

The sale is pending NBA approval. Terms of the deal have not been released.

Jordan is bringing in Gabe Plotkin, a founder of Melvin Capital, and Daniel Sundheim, a founder of DI Capital, as partners in Hornets Sports & Entertainment, of which Jordan is chairman. He will not be giving up majority control of the team.

Jordan is expected to continue to keep control of the organization as the team’s governor moving forward. It’s a decision that does bring some questions concerning his long-term commitment as the team’s control stakeholder. Jordan has had firm control of the franchise for quite some time.

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Over the years, Jordan has faced criticism. Fans resent him for being unable to floor a team that can continue to remain in the playoff mix. This chatter has only increased with the team electing to not offer All-Star point guard Kemba Walker a max contract in free agency. It was a decision that led to him walking in free agency to sign with the Boston Celtics.

This is a situation that only time will tell if Jordan is the right person to have up top to head a winning team.