NBA Hall of Famer Michael Jordan has reached a deal to sell a majority share of the Charlotte Hornets


Michael Jordan, the owner of the Charlotte Hornets and one of the world’s most storied athletes, has agreed to sell his majority share in the N.B.A. team to a group led by Gabe Plotkin and Rick Schnall, two private equity investors.

The team as a whole was valued at $3 billion given the terms of the agreement, according to a person familiar with its details who was not authorized to discuss them publicly and spoke on the condition of anonymity.