Jordan sells the Charlotte Hornets

One of the best basketball players of all time, the legendary Michael Jordan reached an agreement to sell the majority of the shares of the NBA club Charlotte Hornets

According to ESPN, the sale was estimated at approximately three billion dollars.

While waiting for the approval of the NBA League Management, Jordan thus brings to an end 13 years of work as the only dark-skinned majority owner of an NBA club. He will, however, retain a minority ownership stake in the club.

Jordan, 60, will continue to oversee basketball operations through Thursday's 2023 NBA draft.

The basketball icon began as a minority investor in the franchise in 2006, when the team was called the Charlotte Bobcats.

Jordan then became the majority owner of the franchise in 2010 when he purchased the team for $275 million from former majority owner Bob Johnson. The move made him the first former NBA player to own a controlling stake in 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.

During his playing career, Jordan played for the Chicago Bulls (1984-98), with whom he won six titles, as well as for the Washington Wizards (2001-03).