According to Charlotte television station WCNC, Jordan is one of the most eligible bachelors in Charlotte. He is also a majority owner of the Charlotte Bobcats.
The TV station reported that Jordan, 48, popped the question on Christmas. It will be his second marriage.
When news of Jordan's engagement to Prieto, 32, started to spread on the Internet, people also began searching for a familiar name from Jordan's past: Juanita Vanoy.
But who is she?
For those of you who aren't too familiar with Jordan's personal life, Vanoy is his first wife.
Here are 11 things to know about Juanita Vanoy:
1. She was raised in South Side Chicago.
2. She married Jordan in September 1989.
3. They reportedly first met in a restaurant in Chicago in the 1980s. Reports are that Jordan was 26 at the time of meeting Vanoy, who was 30.
4. They share two sons, Jeffrey Michael and Marcus James, and a daughter, Jasmine.
5. She and Jordan were married for 17 years.
6. She filed for divorce from Jordan in 2002, citing irreconcilable differences, but later withdrew the filing.
7. In December 2006, Vanoy's lawyer announced that she and Jordan have mutually decided to separate. Reports were that they lived separately since February of that year.
8. Jordan ended up owing her a reported $168 million in settlement. At the time it was the largest celebrity settlement.
9. She is reportedly a former model and former executive secretary for the American Bar Association.
10. She has been the co-founder and chairman of the Michael and Juanita Jordan Endowment Fund.
11. She has dabbled in real estate.