The NBA will no longer be owned by Michael Jordan.

The Charlotte Hornets announced on Friday that the Hall of Famer has reached an agreement to sell the organization to a consortium led by Atlanta Hawks minority owner Rick Schnall and Hornets minority owner Gabe Plotkin. The new ownership group also includes singer-songwriter Eric Church of country music and rapper J. Cole.

With league permission, a deal is anticipated to be inked in the next few days. Jordan is expected to be in charge of basketball operations starting on Thursday, the day of the Hornets’ No. 2 choice in the 2023 NBA Draft, and running through the start of free agency.

According to Yahoo Sports’ Jake Fischer, Charlotte’s front office has discussed the upcoming sale of the Hornets with the representatives of top draft prospects Scoot Henderson and Brandon Miller. Nevertheless, the team’s current plan is to schedule Jordan’s return visit with both prospects for Monday. Despite adding Amen and Ausar Thompson last week, all indications point to the Hornets selecting one of those two players, according to Fischer’s report on Thursday.

Jordan will continue to own a small portion of the team. Schnall is going to sell his Hawks minority stake.

The sale ends Jordan’s 13-year run as majority owner of the Hornets. He bought a controlling interest in the team from George Shinn in 2010 for $275 million after he became a part-owner in 2006. During Jordan’s time at the helm of the franchise, he changed the name of the team back to the Hornets and became the first former NBA player to become a billionaire.

Despite Jordan’s investment and influence, Charlotte has made the postseason only twice since 2010.