Michael Jordan to end his 13-year tenure as Charlotte Hornets’ majority owner by finalizing to sell his stake to minority owners

Over the past few months, there has been talk of Michael Jordan selling his stake in the Charlotte Hornets. On Friday morning, the NBA icon finally made his decision. ESPN's Adrian Wojnarowski reported that Jordan is selling the team to Gabe Plotkin and Rick Schnall.

Adrian Wojnarowski

@wojespn

BREAKING: Michael Jordan is finalizing a sale of the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall, ending his 13-year run as majority owner, league sources told ESPN on Friday.

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BREAKING: Michael Jordan is finalizing a sale of the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall, ending his 13-year run as majority owner, league sources told ESPN on Friday. https://t.co/5TonSrIQhF

Plotkin and Schnall were minority ownners of the franchise, and now will take full control with Michael Jordan deciding to sell his stake in the team. With new ownership in place, the team could look to start making some major changes. First up is the NBA Draft, where the Charlotte Hornets currently hold the No. 2 pick.

For Jordan, this ends a 13-year stint as owner of the franchise. He first bought into the franchise back in 2010 for $180 million. Jordan was also the first former player to become a majority owner of a team.

Even with the Hornets being one of the worst teams in the NBA, the Chicago Bulls icon is sure to get a huge return on his investment with this sale.

Did Michael Jordan make the right move to sell the Charlotte Hornets?

There is no denying that Michael Jordan is one of the greatest players ever, but his time as an owner did not go well. Since joining the organization in 2010, the Hornets have been one of the worst teams in the league.

Over the past 13 years, the Charlotte Hornets have had a winning season just three times. They've also made it to the postseason three times, but never managed to get past the first round. On top of that, the Hornets haven't been in the playoffs since 2016.

This season, the Hornets had one of the worst records in the Eastern Conference at 27-55. Part of this is because star guard LaMelo Ball missed a majority of the year due to injury.

Seeing how little success Charlotte has had, it was time for Jordan to move on. This is great timing for new ownership, as they have multiple assets to turn things around. When healthy, Ball is one of the most must-watch young stars in the game today. The front office also has the chance to put a promising young talent next to him with the second overall pick in next week's NBA Draft.

Jordan's had great success on and off the court in his career, but his time as owner will go down as his only blemish.

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