The Charlotte Hornets announced on Friday that Michael Jordan is selling his portion of the franchise according to WCNC Charlotte. This puts an end to his 13-year-long run as the organization’s primary shareholder. North Carolina country music superstar Eric Church is among a group buying the Charlotte Hornets.
Jordan will continue to be a minority owner with the organization and will oversee basketball operations next month through the NBA Draft and free agency. Currently, it is unknown how much Jordan has agreed to sell his share for. However, it has been reported that Jordan bought the stake for $275 million in 2010.
The new owners of the Charlotte Hornets include Gabe Plotkin, Rick Schnall, J. Cole, and Eric Church.
Gabe Plotkin purchased a minority stake in the Hornets from Jordan in 2019. He was one of the first to agree to buy the majority stock and is one of the two group leaders for purchasing this stock.
Rick Schnall is the second leader in the purchase of this share. Since 2015, he has been a minority owner of the Atlanta Hawks. Schnall has recently begun the process of selling this minority stake as part of his agreement to buy the Hornets.
J. Cole is a North Carolina rapper who has been a fixture in NBA circles for years. He performed in the 2019 All-Star Game in Charlotte wearing a Hornets jacket. His music was also featured in NBA video games.
Country music star Eric Church grew up in Caldwell County. He has earned numerous awards and topped the charts several times over his career. It should be fun to have ‘the Chief’ as one of the owners of our Charlotte Hornets.
Other minority owners of the Hornets include Amy Levine Dawson, Dan Sundheim, Ian Loring, Chris Shumway, and Damian Mills.
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