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Sports Illustrated
Sports Illustrated
Sport
Daniel Chavkin

Michael Jordan Finalizing Sale of Hornets, per Report

Michael Jordan Hornets NBA Bobcats

Hornets owner Michael Jordan has agreed to sell the team to an ownership group led by Gabe Plotkin and Rick Schnall, the team announced on Friday. According to ESPN’s Adrian Wojnarowski reports, the deal is worth a valuation of $3 billion.

Plotkin is the founder of Melvin Capital and was already a minority owner of the Hornets, while Schnall is the co-president of Clayton, Dubilier & Rice and was a minority owner of the Hawks prior to the sale. As part of the sale, Jordan will keep a minority stake in the team.

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