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.”


Bournemouth snap Liverpool’s unbeaten run to up pressure on Slot

Updated 24 January 2026
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Bournemouth snap Liverpool’s unbeaten run to up pressure on Slot

  • Goals from Evanilson and Alex Jimenez put the home side in a commanding position
  • Defeat will intensify the scrutiny on Liverpool boss Arne Slot

BOURNEMOUTH, UK: Bournemouth ended Liverpool’s 13-game unbeaten run as Amine Adli’s 95th minute strike secured a thrilling 3-2 win for the Cherries on Saturday.
Goals from Evanilson and Alex Jimenez put the home side in a commanding position but Liverpool hit back through Virgil van Dijk and Dominik Szoboszlai to level.
However, Bournemouth won for just the second time in 15 matches after Adli fired in with virtually the last kick of the game.
Defeat will intensify the scrutiny on Liverpool boss Arne Slot with the Reds likely to fall outside of the Premier League’s top four after Sunday’s fixtures.
Slot, who guided Liverpool to Premier League glory last season, had steadied the ship after a run of nine defeats in 12 games earlier in the campaign.
But the Dutchman has attracted criticism for Liverpool’s uninspiring performances, even during their unbeaten run, and they are now winless in five league games.
The Reds put in a commanding performance to beat Marseille 3-0 and close in on the Champions League last 16 in midweek.
But they again struggled when faced with the rigours of breaking down a Premier League defense after gifting the Cherries a 2-0 lead.
The visitors dominated the ball throughout, but were made to pay for two defensive lapses in seven first-half minutes.
Van Dijk was too casual as he tried to flick Marcos Senesi’s ball over the top behind for a corner and Alex Scott pounced to cross for Evanilson to hammer home.
In trying to prevent the goal, Joe Gomez picked up an injury to further deplete Liverpool’s already threadbare options at center-back.
The visitors were down to 10 men as Wataru Endo waited to replace Gomez when Bournemouth doubled their lead.
Milos Kerkez was caught sleeping on his return to the Vitality Stadium to allow Jimenez to sneak in behind and slot in his first Bournemouth goal.
Van Dijk atoned for his previous error to begin the Liverpool fightback when he headed in Szoboszlai’s corner.

- Reward for positivity -

Andy Robertson replaced Kerkez at half-time despite being linked with a move to Tottenham before the transfer window closes in just over a week’s time.
Liverpool had little to show for their domination of the ball in the second period until Szoboszlai’s strike sparked a wild finale.
The Hungarian slotted a free-kick under the Marseille wall on Wednesday and this time used a flick from Cody Gakpo to work an angle to blast into the far corner.
Almost straight from kick-off, Liverpool needed Alisson Becker to produce a brilliant save from Ryan Christie to prevent Bournemouth retaking the lead.
Evanilson then wasted a glorious chance to win the game when the Brazilian slotted wide with just Alisson to beat.
Bournemouth could also have lost it when goalkeeper Djordje Petrovic made a fine save to prevent Florian Wirtz from finding the bottom corner.
But Andoni Iraola’s men were rewarded for going for the win when Adli smashed in from a narrow angle after Liverpool failed to clear a long throw.
Victory lifts Bournemouth up to 13th and 10 points clear of the relegation zone.