Jordan ‘proud’ of Hornets as sale of NBA team finalized

Rick Schnall, left, and Gabe Plotkin during a news conference about the sale of the majority stake in the Charlotte Hornets NBA basketball team that has been finalized in Charlotte, N.C. (AP)
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Updated 04 August 2023
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Jordan ‘proud’ of Hornets as sale of NBA team finalized

  • Jordan, who retained a minority stake in the franchise, said in a statement he was grateful to have the chance to guide the team for more than a decade
  • Plotkin and Schnall said they would serve as co-chairmen of Hornets Sports and Entertainment “and will rotate the team’s governorship every five years, beginning with Schnall”

WASHINGTON: NBA legend Michael Jordan’s tenure as a majority owner in the league officially ended Thursday as the sale of his stake of the Charlotte Hornets was approved by league governors.

The purchasing group is led by Gabe Plotkin, chief investment officer at Tallwoods Capital LLC, and Rick Schnall, co-president of private equity firm Clayton, Dubilier & Rice.

“The sale, which has been approved by the NBA Board of Governors, immediately gives Plotkin and Schnall the controlling interest in the franchise,” the Hornets said in a statement.

Plotkin and Schnall said they would serve as co-chairmen of Hornets Sports and Entertainment “and will rotate the team’s governorship every five years, beginning with Schnall.”

The deal, first announced in June, reportedly valued the Hornets at $3 billion.

Jordan acquired a controlling investment in the Hornets in 2010 for $275 million. The franchise had been the league’s sole team with Black-majority ownership.

Jordan, who retained a minority stake in the franchise, said in a statement he was grateful to have the chance to guide the team for more than a decade.

“The opportunity to be the majority owner of the Charlotte Hornets in my home state of North Carolina for the last 13 years has been a tremendous honor,” Jordan said.

“I’m proud of all that the organization accomplished: the exciting on-court moments, the return of the Hornets name, Charlotte hosting the 2019 NBA All-Star Game and HSE becoming a true pillar of this Community.

“Through the years, the unwavering commitment, passion and loyalty of our Hornets fans has been incredible. As I transition into a minority ownership role, I’m thrilled to be able to pass the reins to two successful, innovative and strategic leaders in Gabe and Rick.”

Often considered the greatest-ever basketball player, Jordan led teams to six NBA titles, won the league’s Most Valuable Player award five times and garnered two Olympic gold medals. He played his last game professionally in 2003.

However, Jordan’s tenure as an owner was less successful.

During his 13-year reign, Charlotte reached the playoffs just three times, losing in the first round on all three occasions.

Last season, Charlotte finished one place off the bottom of the Eastern Conference at 27-55.

Schnall and Plotkin said in their joint statement that they hope to build on the “stability” that Jordan brought to the franchise.

“We’re excited about the organization’s future,” they said. “Our vision is to take the Hornets to the next level both on and off the court.”


Canada’s Lee sets pace, Kim in the hunt for LIV Golf wild card spots

Updated 11 January 2026
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Canada’s Lee sets pace, Kim in the hunt for LIV Golf wild card spots

  • LIV Golf Promotions in Florida offers top 3 finishers a chance to play in 2026 regular season

LECANTO: Canada’s Richard T. Lee has proved the player to watch during the first three days at LIV Golf Promotions and is now well-placed for a wild-card spot in the 2026 LIV Golf season.

Anthony Kim, meanwhile, found another gear on the back nine on Saturday, putting him in a better position to return to full-time status in the league.

The final 18 holes of the 36-hole shootout at Black Diamond Ranch take place on Sunday with a potentially career-changing reward for the top three finishers — guaranteed LIV Golf wild-card status for 2026. In addition, the top 10 and ties earn exemptions into the Asian Tour’s International Series.

For the second time this week, Lee led the field with a bogey-free 6-under 64. The 35-year-old will take a two-shot lead over his closest pursuers going into Sunday, giving him a significant advantage. However, he does not plan to take his foot off the gas.

“Honestly, I don’t think it would be comfortable for any player to have a two-shot lead on the last day,” said Lee, who has two eagles, 13 birdies and just one bogey in his 54 competitive holes this week. “I’ll just put my hat on and just play my golf.”

Kim is among three players who are tied for second after shooting a bogey-free 4-under 66, along with South Africa’s Oliver Bekker and Thailand’s Jazz Janewattananond. Denmark’s Lucas Bjerregaard is solo fifth after his 3-under 67, with five other players lurking at 1 under.

Kim, who played as a wild card in the past two seasons following his return to competitive golf after a 12-year retirement, was just 1 under through 12 holes on Saturday. But he made consecutive lengthy birdie putts at the 13th and 14th holes, birdied the par-5 16th, then saved par with a 15-footer at the par-4 18th that circled the cup before dropping.

“I have an opportunity to get one of those spots,” said the 40-year-old, the only American to advance to the weekend. “That’s what I asked for coming into this week and put myself in a good position. Now I’ve just got to go finish.”

Kim would not be in this position had he not made an 8-foot birdie putt on the 18th on Friday to make the cut on the number.

“I knew that if I didn’t make birdie on 18 [Friday] that my chances of playing on LIV next year were gone, and to me that’s a big deal,” Kim said. “I’d like to play at the highest level against the best players. It meant a lot to me.”

Bekker was part of LIV Golf’s inaugural field at the 2022 London tournament. Four seasons later, he’s excited about the opportunity to return to the league as a full-time member.

“Thinking back on it now, I had the opportunity to play a few more events, and now I’m like, well, maybe I should have played them,” he said. “The water was a bit rough at that stage and didn’t know what was going to happen, so I played it a bit safe. Luckily, I’ve been given another opportunity this week, and hopefully I can take it.”

Janewattananond won four tournaments in 2019 when he became a top 50 world player and, aged 30, still has years left in his competitive career. After shooting a second-round 67 to advance to the weekend, he shot a 66 on Saturday that included four birdies in a six-hole stretch to end his front nine.

“It’s a very big prize at the end of the day,” he said. “Those three spots up for grabs, it would give me freedom to play wherever I want and security for my family.”

The 34-year-old Bjerregaard, a two-time winner on the DP World Tour, said earning full-time LIV Golf status would be career-changing.

“Where I am in my career right now, it’s probably that or retirement,” he said. “Yeah, that would mean a lot for sure.”

Although nothing is guaranteed, Lee has played so well this week that there may be just two spots available for the remainder of the field.

“We’re not playing for one spot,” said Janewattananond. “I don’t have to worry about him. I just have to worry about myself.”

“He played great today,” added Bjerregaard, playing in the same group as Lee on Saturday. “But I would be happy with any of the other two spots, so that’s fine. I can finish third. I wouldn’t mind.”