Michael Jordan will keep a minority stake of Hornets
Once the sale is complete, Jordan is expected to keep a minority stake and a presence with the franchise, sources said. Jordan, a six-time NBA champion and five-time MVP, is largely considered to be the greatest player in the history of the game and has been the league’s only Black majority owner. Jordan paid $275 million for a majority stake in the franchise in 2010. Jordan sold a significant minority stake to Plotkin, founder and chief investment officer of Melvin Capital, and Daniel Sundheim, founder and chief investment officer of D1 Capital, in 2020, and Sundheim is part of the group purchasing the Hornets, sources said.
Source: Adrian Wojnarowski @ ESPN
Source: Adrian Wojnarowski @ ESPN
What’s the buzz on Twitter?
Kurt Helin @basketballtalk
Michael Jordan finalizes deal to sell the majority of Hornets franchise days before NBA Draft
nba.nbcsports.com/2023/06/16/jor… – 12:09 PM
Michael Jordan finalizes deal to sell the majority of Hornets franchise days before NBA Draft
nba.nbcsports.com/2023/06/16/jor… – 12:09 PM
CBS NBA @CBSSportsNBA
Michael Jordan finalizing sale of Charlotte Hornets
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cbssports.com/nba/news/micha… – 12:08 PM
Michael Jordan finalizing sale of Charlotte Hornets
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cbssports.com/nba/news/micha… – 12:08 PM
Christos Tsaltas @Tsaltas46
This NBA offseason already started crazy…
-Zion’s trade rumors
-Bradley Beal’s trade en route
-Michael Jordan sold the Hornets
-Ja Morant’s 25-game suspension
This summer will be WILD! #NBA – 11:56 AM
This NBA offseason already started crazy…
-Zion’s trade rumors
-Bradley Beal’s trade en route
-Michael Jordan sold the Hornets
-Ja Morant’s 25-game suspension
This summer will be WILD! #NBA – 11:56 AM
Adam Zagoria @AdamZagoria
Updated on @ForbesSports via @wojespn
Michael Jordan ‘Finalizing’ Sale Of Charlotte Hornets For Approximately $3 Billion forbes.com/sites/adamzago… – 11:10 AM
Updated on @ForbesSports via @wojespn
Michael Jordan ‘Finalizing’ Sale Of Charlotte Hornets For Approximately $3 Billion forbes.com/sites/adamzago… – 11:10 AM
James Edwards III @JLEdwardsIII
Ja news behind Michael Jordan selling/J. Cole is hilarious – 11:03 AM
Ja news behind Michael Jordan selling/J. Cole is hilarious – 11:03 AM
Adam Zagoria @AdamZagoria
Now on @ForbesSports
Michael Jordan ‘Finalizing’ Sale Of Charlotte Hornets via @forbes
forbes.com/sites/adamzago… – 10:44 AM
Now on @ForbesSports
Michael Jordan ‘Finalizing’ Sale Of Charlotte Hornets via @forbes
forbes.com/sites/adamzago… – 10:44 AM
Mike Vorkunov @MikeVorkunov
Michael Jordan is selling his majority share in the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall. Jordan will retain a minority stake. Musicians J. Cole and Eric Church, and PE firm Dyal HomeCourt Partners are also part of that group theathletic.com/4616306/2023/0… – 10:39 AM
Michael Jordan is selling his majority share in the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall. Jordan will retain a minority stake. Musicians J. Cole and Eric Church, and PE firm Dyal HomeCourt Partners are also part of that group theathletic.com/4616306/2023/0… – 10:39 AM
Rod Boone @rodboone
Source: Michael Jordan selling majority stake in #Hornets
charlotteobserver.com/sports/charlot… – 10:33 AM
Source: Michael Jordan selling majority stake in #Hornets
charlotteobserver.com/sports/charlot… – 10:33 AM
Lev Akabas @LevAkabas
BREAKING: “Michael Jordan is finalizing a sale of the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall, ending his 13-year run as majority owner,” per @wojespn
@Sportico values the team at $1.77 billion pic.twitter.com/HZJCO6xvqe – 10:27 AM
BREAKING: “Michael Jordan is finalizing a sale of the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall, ending his 13-year run as majority owner,” per @wojespn
@Sportico values the team at $1.77 billion pic.twitter.com/HZJCO6xvqe – 10:27 AM
Ball Don’t Lie @Balldontlie
A deal to sell the Charlotte Hornets is nearly finalized, per @wojespn.
Michael Jordan has agreed to sell to a group led by Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall. pic.twitter.com/dZL4o4tcM7 – 10:23 AM
A deal to sell the Charlotte Hornets is nearly finalized, per @wojespn.
Michael Jordan has agreed to sell to a group led by Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall. pic.twitter.com/dZL4o4tcM7 – 10:23 AM
Mike Vorkunov @MikeVorkunov
Michael Jordan will retain a minority ownership share in the Hornets, according to a source. He has sold the majority stake to a group led by Gabe Plotkin and Rick Schnall, as @wojespn first reported. The deal will also include management and operation of the Spectrum Center. – 10:13 AM
Michael Jordan will retain a minority ownership share in the Hornets, according to a source. He has sold the majority stake to a group led by Gabe Plotkin and Rick Schnall, as @wojespn first reported. The deal will also include management and operation of the Spectrum Center. – 10:13 AM
Adrian Wojnarowski @wojespn
ESPN story on Michael Jordan finalizing a sale of his majority stake in the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall: es.pn/3qCTK7h – 10:02 AM
ESPN story on Michael Jordan finalizing a sale of his majority stake in the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall: es.pn/3qCTK7h – 10:02 AM
Adrian Wojnarowski @wojespn
BREAKING: Michael Jordan is finalizing a sale of the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall, ending his 13-year run as majority owner, league sources told ESPN on Friday. pic.twitter.com/5TonSrIQhF – 9:56 AM
BREAKING: Michael Jordan is finalizing a sale of the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall, ending his 13-year run as majority owner, league sources told ESPN on Friday. pic.twitter.com/5TonSrIQhF – 9:56 AM
Josh Martin @Bulls_Wire
NBA Hall-of-Famer Jerry West discussed the recent beef between Michael Jordan and Scottie Pippen. bullswire.usatoday.com/2023/06/13/chi… – 1:00 AM
NBA Hall-of-Famer Jerry West discussed the recent beef between Michael Jordan and Scottie Pippen. bullswire.usatoday.com/2023/06/13/chi… – 1:00 AM
Michael Lee @MrMichaelLee
I missed this Monday night but it’s mad cool David Thompson – the Nuggets legend who inspired Michael Jordan to fly – got to hold the Larry O’Brien trophy. (📹via @alecgwin) pic.twitter.com/usd4zTXRiw – 2:49 PM
I missed this Monday night but it’s mad cool David Thompson – the Nuggets legend who inspired Michael Jordan to fly – got to hold the Larry O’Brien trophy. (📹via @alecgwin) pic.twitter.com/usd4zTXRiw – 2:49 PM
More on this storyline
Jeff Zillgitt: J. Cole and Eric Church are also part of the group that is buying the Charlotte Hornets, per Hornets news release. -via Twitter @JeffZillgitt / June 16, 2023
Adrian Wojnarowski: Michael Jordan is selling his majority stake in the Charlotte Hornets to the Gabe Plotkin/Rick Schnall group for an approximate $3 billion valuation, league sources tell ESPN. pic.twitter.com/zDuhsg8mDE -via Twitter @wojespn / June 16, 2023
Michael Jordan is finalizing a sale of the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall, ending his 13-year run as majority owner, league sources told ESPN on Friday. An agreement is expected to be signed in the coming days, sources said. Schnall, a minority owner with the Atlanta Hawks, and Plotkin, a minority owner with the Hornets, will become the franchise’s governors once the NBA completes its vetting and approval process. Jordan will continue to oversee basketball operations through next Thursday’s NBA draft and the start of free agency on July 1. -via ESPN / June 16, 2023