Michael Jordan's NBA ownership tenure is over.

The Hall of Famer agreed on a sale of the Charlotte Hornets to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall, the team announced Friday. Rapper J. Cole and country music singer-songwriter Eric Church are also a part of the new ownership group.

An agreement is expected to be signed in the coming days with approval from the league. Jordan will reportedly oversee basketball operations during the 2023 NBA Draft on Thursday, where the Hornets have the No. 2 pick, and the start of free agency.