NBA legend Michael Jordan has agreed to sell his majority stake in the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall for an approximate $3 billion in valuation, ending his 13-year tenure as majority owner.

The six-time champion purchased the controlling equity stake in the Hornets from media mogul Robert Johnson in 2010 for $275 million, making history as the first former Black professional athlete to become the majority partner in a major American sports franchise. While the sale valuation is currently unreported, Forbes estimated the franchise to be worth $1.7 billion as of October 2022. Once the sale becomes official, the NBA will no longer have any Black majority partners among its 30 franchises. Famous faces that are a part of the new ownership group include rapper J. Cole and country singer Eric Church.

Shlomo Sprung has more details on Michael Jordan’s lucrative transaction.

Players from the Kansas City Chiefs celebrated their third Super Bowl title in franchise history on Thursday, coming together at Union Station in downtown Kansas City to receive the commemorative rings. Super Bowl LVII MVP Patrick Mahomes and tight end Travis Kelce personally consulted on the jewelry’s design, and features include 609 round diamonds, 16 baguette diamonds, four marquise diamonds, and 35 custom-cut genuine rubies totaling approximately 16.10 carats.

“We learned from what we did the first time, what we like, what we can emphasize and I think that’s something that’s gonna make this ring even more special,” Mahomes told Boardroom of what makes this ring different than the one he received in 2020.

Read all about the design features of the Chiefs’ 2023 Super Bowl championship rings.

Days after announcing three new categories, the Recording Academy revealed plans on Friday to decrease the number of nominees in the top four Grammy Awards. The final list of nominees for Album, Song, and Record of the Year, as well as Best New Artist, will be been reduced from 10 acts to eight.

In another significant move, the Academy also declared that “only human creators are eligible to be submitted for consideration for, nominated for, or win a Grammy Award.” A work that contains no human authorship — that is, produced through means such as generative AI — is not eligible for a golden gramophone in any category.

Memphis Grizzlies star Ja Morant was suspended for 25 games to start the 2023-24 NBA season after he was seen brandishing a firearm on social media, the league announced Friday. “For Ja, basketball needs to take a back seat at this time. Prior to his return to play, he will be required to formulate and fulfill a program with the league that directly addresses the circumstances that led him to repeat this destructive behavior,” part of league Commissioner Adam Silver’s statement read.

Morant signed a five-year, $194 million rookie max extension that will bump his salary to $33.5 million this upcoming campaign. As several observers have calculated, the 23-year-old’s lengthy ban will cost him about $7.6 million and will put him in line to make his season debut in December.

New York Jets cornerback Ahmad “Sauce” Gardner has signed a representation deal with agency VaynerSports. The news follows Gardner severing ties with GSE Worldwide and agent David Canter, who is currently under investigation by the NFL Players Association for allegedly engaging in a bribing scheme in order to get players selected in the NFL Draft.

VaynerSports was founded by AJ Vaynerchuk in 2016, the younger brother of Gary Vaynerchuk. The two co-founded VaynerMedia in 2009.

Courtney Williams is effortlessly stylish. Now the Chicago Sky star is teaming up with Moolah Kicks to debut her very own player exclusive of its signature shoe. The sneaker company is the only one that designs basketball sneakers exclusively for women. The green colorway is an homage to Williams’ alma mater, the University of South Florida.

When discussing the inspiration for the shoe in a statement, the 2021 WNBA All-Star said,  “If it wasn’t for that school and basketball program, I wouldn’t be here still doing what I love, so it was only right I show love.”