Michael Jordan Gets Thank You Video from Hornets After Majority Stake of Team Sold

The Charlotte Hornets are entering a new era following the sale of Michael Jordan's majority stake in the franchise to a group led by Rick Schnall and Gabe Plotkin.

Jordan, who was Charlotte's majority owner for 13 years, finalized an agreement with Schnall and Plotkin for the sale of his stake in the organization earlier this week. While he will continue to hold a minority stake in the franchise, the Hornets still took the opportunity to thank the Hall of Famer on Friday.

"I'm thrilled to be able to pass the reins to two successful, innovative and strategic leaders in Gabe and Rick," Jordan said in a statement on Thursday. "I know the Hornets organization is in great hands moving forward. I'm excited about the future of the team and will continue to support the organization and the community in my new role in the years ahead."

The Hornets made the playoffs just twice in Jordan's tenure as majority owner, and Schnall and Plotkin hope to take the franchise to the "next level" during their ownership.