Michael Jordan, a basketball great, has formally agreed to sell his ownership interest in the Charlotte Hornets, completing his 13-year reign as the team's main owner.
On Friday, June 16, Hornets Sports & Entertainment announced that Jordan had agreed to sell his majority ownership interest in the Charlotte Hornets to a consortium headed by Gabe Plotkin and Rick Schnall.
Plotkin, the original founder and director of investments of Tallwoods Capital LLC and owner of a minority share in the franchise since 2019, has served as an alternative governor on the NBA Board of Governors since that year.
The buyer group will also include local Charlotte investors Damian Mills and Amy Levine Dawson, as well as Chris Shumway, Dan Sundheim, Ian Loring, Dyal HomeCourt Partners, recording artists J. Cole and Eric Church, all of whom are from North Carolina.
In March 2010, while the club was still known as the Charlotte Bobcats, and after four years as a member of the franchise's ownership group, the NBA great became the team's majority owner. He was the first ex-player to acquire a controlling stake in an NBA team.
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