Michael Jordan's time as majority owner of the Charlotte Hornets appears to be officially over, now that the NBA's board of governors reportedly approved the sale of the organization to a group led by Rick Schnall and Hornets minority owner Gabe Plotkin.
The new logo of the Charlotte Hornets is displayed on a video monitor during a halftime ceremony of an NBA basketball game between the Charlotte Bobcats and the Utah Jazz in Charlotte, N.C., Saturday, Dec. 21, 2013. The Bobcats will change their name to the Hornets next season. Michael Jordan's time as majority owner of the Charlotte Hornets appears to be officially over, now that the NBA's board of governorsto a group led by Rick Schnall and Hornets minority owner Gabe Plotkin.
Jordan agreed on a deal to sell to Plotkin and Schnall last month, according to an announcement from the team. Rapper J. Cole and country music singer-songwriter Eric Church are also a part of the new ownership group. Daniel Sundheim, founder and chief investment officer of D1 Capital, purchased some stake in the team from Jordan in 2020. He is also part of the new ownership group, according to the report.
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