Michael Jordan no longer holds a controlling majority ownership stake in the Charlotte Hornets franchise. Having originally purchased the controlling interest in the team, he successfully finalized a massive sale of his majority shares valuing the franchise at approximately 3 billion dollars. However, he did not completely sever ties with the organization; he retains a meaningful minority ownership stake and continues to maintain a localized presence while transitioning day-to-day governance duties over to the new ownership group led by Gabe Plotkin and Rick Schnall.