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Charlotte, N.C. – Charlotte Hornets owner Michael Jordan announced Saturday that he would sell part of the team to two people but would remain the majority owner.
In a press release on Saturday, it was announced that Gabe Plotkin and Daniel Sundheim would join Hornets Sports & Entertainment as investors. The transaction is subject to the approval of the NBA.
Plotkin is founder and chief investment officer of Melvin Capital. Sundheim is the founder and chief investment officer of D1 Capital.
"I am delighted to welcome Gabe and Dan as partners of Hornets Sports & Entertainment," said Michael Jordan. "Even though I will continue to lead the Charlotte Hornets, make all the decisions relating to the team and the organization, and remain the governor of the NBA team, Gabe and Dan invincibly invest in the franchise. We continue to modernize, add new technologies and compete with the best in the NBA.
"Gabe and Dan are both industry regulators and seasoned leaders, philanthropists and basketball fans, and they share my commitment to Charlotte and the Carolinas, and look forward to working with them. learn from them. "
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