According to new reports Michael Jordan has agreed to sell off a significant portion of his stake in the Charlotte Hornets to two New York-based investors.

A source told the Charlotte Observer that despite selling a great portion, Jordan does not plan to give up his majority ownership of the NBA teams.

RELATED: Dennis Rodman Claims He Was More Famous Than Michael Jordan in Chicago 

As it stands, Michael Jordan currently controls 97 percent of Hornets equity. 

Flip the Page to Read the Report: