The Hornets held a press conference Thursday officially introducing its new owners, Gabe Plotkin and Rick Schnall. Ahead of the presser, former majority owner Michael Jordan released a statement addressing the sale and his tenure at the helm of the franchise.
“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 in the release. “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. I know the Hornets organization is in great hands moving forward. I’m excited about the future of the team and will continue to support the organization and the community in my new role in the years ahead.”
Jordan has been the majority owner of the franchise for the last 13 years and the sale was for $3 billion, according to ESPN. The Bulls legend is still a minority owner and will serve as an “alternate governor” of the franchise. During his tenure as owner, the Hornets have only made the playoffs on three occasions, however, and its new ownership group will look to put an end to that trend.
