Around 10 AM this morning, we got a first Woj Bomb in anticipation of NBA Draft week.
The initial report by ESPN’s Adrian Wojnarowski that Michael Jordan would be selling his majority stake in the Charlotte Hornets, was followed shortly after by a press release from the Hornets, confirming the report.
The Hornets announced today that Jordan’s majority stake will be transferred to a Buyer Group headed by Gabe Pltokin and Rick Schnall. Plotkin acquired a minority stake in the Hornets in 2019 and during that time has served as an alternate governor on the NBA Board of Governors. Rick Schnall has been a minority stake holder in the Atlanta Hawks since 2015 and has also served as an alternate governor on the NBA Board of Governors.
Several other parties are part of the Buyer Group, including local recording artists J. Cole and Eric Church. The Buyer Group also includes Dan Sundheim, Ian Loring, Dyal HomeCourt Partners, and several local Charlotte investors, including Amy Levine Dawson and Damian Mills.
As part of this move, Jordan will retain a minority share of the team. Included with the Hornets, the Greensboro Swarm, Hornets Venom GT, and the management and operation of the Spectrum Center, are all included in the sale.
The move will not be official until it is approved by the NBA Board of Governors.
Stay tuned to WFNZ for more details as they become available.
