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CHARLOTTE, NC - APRIL 28: Charlotte Bobcats owner Michael Jordan watches on against the Miami Heat in Game Four of the Eastern Conference Quarterfinals during the 2014 NBA Playoffs at Time Warner Cable Arena on April 28, 2014 in Charlotte, North Carolina. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Streeter Lecka/Getty Images)

Michael Jordan sold his minority share of the Charlotte Hornets, according to Darren Rovell of The Action Network. The valuation is at $1.5 billion.

Jordan bought the team back in 2009 based on a $280 million valuation (65% for $180M) and initially only put up $30 million cash.

It has been recently reported that Jordan agreed to sell a large piece of the Hornets.