Hornets Sports & Entertainment announced on August 3 that the sale of the majority stake in the Charlotte Hornets from NBA legend Michael Jordan to a group led by Gabe Plotkin and Rick Schnall has been finalized.
The sale, which has been approved by the NBA Board of Governors, immediately gives Plotkin and Schnall the controlling interest in the franchise. Jordan will retain a minority ownership share of the team and will also serve as alternate governor.
“The opportunity to be the majority owner of the Charlotte Hornets in my home state of North Carolina for the last 13 years has been a tremendous honor,” Jordan said. “I’m proud of all that the organization accomplished: the exciting on-court moments, the return of the Hornets name, Charlotte hosting the 2019 NBA All-Star Game and HSE becoming a true pillar of this community. Through the years, the unwavering commitment, passion and loyalty of our Hornets fans has been incredible. As I transition into a minority ownership role, I’m thrilled to be able to pass the reins to two successful, innovative and strategic leaders in Gabe and Rick.
“I know the Hornets organization is in great hands moving forward. I’m excited about the future of the team and will continue to support the organization and the community in my new role in the years ahead.”
NBA NEWS & RUMORS: Michael Jordan & Charlotte Hornets Updates
Jordan is arguably the greatest player in NBA history. He won six championships, six Finals MVPs, five regular-season MVPs and 10 scoring titles with the Chicago Bulls in the ’90s. The Bulls three-peated twice and went 6-0 in the Finals during the Jordan era.
Jordan finished his NBA career with the Washington Wizards. The Hall of Famer averaged 30.1 points, 6.2 rebounds and 5.3 assists with the Bulls and Wizards. He’s first in NBA history in points per game and player efficiency rating.
NBA NEWS & RUMORS: Michael Jordan & Charlotte Hornets Updates
The Hornets won only 27 games last season. They haven’t made the playoffs since 2016. LaMelo Ball signed a five-year contract extension with Charlotte this summer. The extension is worth up to $260 million. Ball would have become a restricted free agent in the summer of 2024 if he and the Hornets didn’t agree to an extension.
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