The NBA’s board of governors approved the sale of the Charlotte Hornets to a group led by Rick Schnall and Gabe Plotkin, clearing the way to end Michael Jordan’s 13-year run as majority owner, sources told ESPN on Sunday.
The BOG vote was 29-1 to approve the sale — with New York Knicks owner James Dolan registering the lone vote against, sources said.
The completed sale of the team — purchased at an approximate $3 billion valuation — will be executed in the next one to two weeks, sources said.