Michael Jordan announces he will sell part of Hornets franchise
Posted September 14, 2019 11:07 p.m. EDT
Charlotte, N.C. — Charlotte Hornets owner Michael Jordan announced Saturday he will sell part of the team to two individuals but remain majority owner.
In a press release Saturday, it was announced Gabe Plotkin and Daniel Sundheim will join Hornets Sports & Entertainment as investors. The transaction is subject to NBA approval.
Plotkin is founder and chief investment officer of Melvin Capital. Sundheim is the founder and chief investment officer of D1 Capital.
“I’m excited to welcome Gabe and Dan as my partners in Hornets Sports & Entertainment,” said Michael Jordan. “While I will continue to run the Charlotte Hornets, make all decisions related to the team and organization, and remain the team’s NBA Governor, Gabe and Dan’s investment in the franchise is invaluable, as we continue to modernize, add new technology and strive to compete with the best in the NBA.
"Both Gabe and Dan are industry standard-setters and proven leaders, with a belief in philanthropy and a passion for the game of basketball. They share my commitment to Charlotte and the Carolinas, and I look forward to working with and learning from them.”
