NBA Hall of Famer Michael Jordan is in “serious talks” to sell his majority stake in the NBA’s Charlotte Hornets, ESPN reported on Thursday.
Jordan reportedly is contemplating selling his stake to a group being led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall.
Per ESPN, the talks are in the early stages, but if Jordan was to sell his majority stake, he would still remain a minority owner of the Hornets franchise.
Jordan started as a minority investor in the franchise in 2006, when the team was named the Charlotte Bobcats.
He then became majority owner of the franchise in 2010 when he purchased the team for $275 million from former majority team owner Bob Johnson. The move made him the first former NBA player to own the controlling share of a team.
In the years since Jordan became majority owner of the franchise, the team has only made the playoffs twice (2014, 2016), losing in the first round both times.
As one of the greatest players of all time, Jordan played for the Chicago Bulls (1984-98) and the Washington Wizards (2001-03).
With the Bulls, he won six league titles, six Finals MVPs, five regular-season MVPs, 14 NBA All Star selections and 10 All NBA First Team nods. He also notched an NBA Defensive Player of the Year award and nine All-Defensive First Teams honors.