Charlotte was also one of the fastest-growing cities in the United States, and was previously one of the three in-st… Gabe Plotkin, founder and chief investment officer of Melvin Capital, and Daniel Sundheim, founder and chief investment officer of D1 Capital, have joined the Hornets as partners, pending NBA approval.

This station is part of Cox Media Group Television. In 1985, the NBA was planning to expand by three teams by the 1988–1989 season, later modified to include a total of four expansion teams. In March 2010, Jordan became the majority owner of the Charlotte Bobcats, after four years as part of the team’s ownership group and its Managing Member of Basketball Operations. Learn about careers at Cox Media Group. Which is, of course, a big piece of the formula you need to have.". Jordan, a six-time NBA champion, will remain the majority owner. How can they generate more revenue? The new "Follow the Lead" feature allows you to tap the blue tag indicated with a '+' to subscribe to alerts on the very latest breaking news updates. "Fresh thinking, new ideas. The Charlotte Hornets saw a year-over-year 20 percent increase in value in the 2018-19 season under the ownership of Michael Jordan, according to Forbes. Both Gabe and Dan are industry standard-setters and proven leaders, with a belief in philanthropy and a passion for the game of basketball.". By using this website, you accept the terms of our Visitor Agreement and Privacy Policy, and understand your options regarding Ad Choices. ", Jordan says "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. >> Reading this story in our app? "And then that just leaves that one big piece out there, can they start to win on the court? Experts said this is also a good business deal. [Michael Jordan donates $1M to Bahamas for Hurricane Dorian relief]. Experts said selling a part of that share will still make him money but offers other benefits. log in to manage your profile and account. How can they get closer to fans through technology?" The Charlotte area had long been a hotbed for college basketball. Charlotte Hornets owner Michael Jordan is selling part of his stake in the team, per Rick Bonnell’s report for the Charlotte Observer. Why now is a prime time for Michael Jordan to add Wall Street investors to Hornets ownership group By Erik Spanberg – Managing Editor, Charlotte Business Journal No word on how much he is selling or the value of the sale. Michael Jordan says Hornets add 2 partners to ownership group, Brianna Chambers, Cox Media Group National Content Desk, Jared Leone, Cox Media Group National Content Desk, Missing 17-year-old didn't return home from work at pizza place; car left at restaurant, Police identify man found shot to death in driveway in north Charlotte, Sheriff: 70 targeted in early morning Iredell County drug roundup, FORECAST: Heat continues to grip region, but fall relief in sight, Police identify man killed in fall from Myrtle Beach hotel balcony, SEC says false positive: Nick Saban to coach from sideline after fifth negative COVID-19 test, 18-year-old caught sexually assaulting 7-year-old during virtual learning, ‘We are quiet, but we are okay’: Chrissy Teigen says after loss of baby, Class action lawsuit filed against Ohio Black Lives Matter protesters, WATCH: Woman runs mile in under 6 minutes while 9 months pregnant, WSOC - TV Public File Contact / Program Director, WAXN - TV Public File Contact / Program Director. CHARLOTTE, N.C. — Michael Jordan is adding two partners to the Charlotte Hornets' ownership group. Last year, Forbes reported Jordan owned roughly 90% of the team. George Shinn, an entrepreneur from Kannapolis, wanted to bring an NBA team to the Charlotte area, and he assembled a group of prominent local businessmen to head the prospective franchise. said Erik Spanberg with the Charlotte Business Journal. Jordan will maintain his controlling stake and with that, his position as the face of the team. Read more top trending stories on wsoctv.com: © 2020 Cox Media Group. CHARLOTTE, N.C. — Michael Jordan is adding two partners to the Charlotte Hornets' ownership group.

Jordan said in a statement released by the team Saturday that he'll continue "to run the Hornets, make all decisions related to the team and organization, and remain the team's NBA Governor.



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