Jordan no longer owns controlling interest in the Hornets, still owns minority stake

It’s official: Michael Jordan no longer owns controlling interest in the Charlotte Hornets..The Charlotte Business Journal is reporting the NBA disclosed today that Jordan’s sale of majority interest to an investor group has closed…The deal values the Hornets franchise at $3 billion-up considerably from the $275 million Jordan paid in 2010 when he bought majority interest of the Hornets from Robert Johnson..Jordan will retain a minority stake in the team..The new owners praised Jordan for bringing stability to the franchise and putting it on solid financial footing while building rapport with community leaders and organizations…They expressed their excitement about the organization’s future, noting Charlotte is a great city and a thriving sports town, and it’s their privilege to own an NBA team.