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According to the web search results, Michael Jordan has finalized the sale of his majority stake in the Charlotte Hornets for an approximate $3 billion valuation, sources told ESPN¹. He sold the team to an ownership group led by Gabe Plotkin and Rick Schnall, who had previously acquired a significant minority stake in 2019⁶. Jordan will remain on as a minority owner and said he was proud of all that the organization accomplished during his ownership². He did not give an explanation for why he sold the franchise, but some reports suggest he wanted to focus on other business ventures and philanthropic efforts³. The new owners said they plan to further invest in the team, the facilities and the fan experience, with the goal of delivering a winner to the fans². The Hornets have not won a playoff series under Jordan and have the longest postseason drought in the NBA².

Source:
(1) Sources: Michael Jordan agrees to sell Hornets stake for $3B. https://www.espn.com/nba/story/_/id/37863644/sources-michael-jordan-finalizing-charlotte-hornets-sale.
(2) Michael Jordan Finalizes Deal To Sell Charlotte Hornets: You Won't .... https://www.msn.com/en-us/sports/nba/michael-jordan-sells-charlotte-hornets-his-profit-is-mind-blowing/ar-AA1cHW30.
(3) Michael Jordan’s sale of majority ownership of Hornets finalized. https://www.nba.com/news/michael-jordans-sale-of-majority-ownership-of-hornets-finalized.
(4) Why did Michael Jordan sell the Hornets? - Sportskeeda. https://www.sportskeeda.com/basketball/why-michael-jordan-sell-the-hornets.
(5) Michael Jordan Finalizing Sale of Hornets, per Report - Sports Illustrated. https://www.si.com/nba/2023/06/16/michael-jordan-sells-charlotte-hornets-per-report.
(6) Is Michael Jordan selling Charlotte Hornets? Understanding how the deal .... https://www.sportskeeda.com/basketball/is-michael-jordan-selling-charlotte-hornets-understanding-deal-affects-franchise.

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