{"id":30818,"date":"2023-10-03T17:04:52","date_gmt":"2023-10-03T17:04:52","guid":{"rendered":"https:\/\/onelidlesseye.com\/?p=30818"},"modified":"2023-10-03T17:04:52","modified_gmt":"2023-10-03T17:04:52","slug":"michael-jordan-selling-charlotte-hornets-to-group-including-j-cole-eric-church","status":"publish","type":"post","link":"https:\/\/onelidlesseye.com\/celebrity\/michael-jordan-selling-charlotte-hornets-to-group-including-j-cole-eric-church\/","title":{"rendered":"Michael Jordan Selling Charlotte Hornets To Group Including J. Cole, Eric Church"},"content":{"rendered":"
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Michael Jordan<\/strong>‘s run as owner of the Charlotte Hornets is coming to an end — the basketball legend has agreed to sell the team to a group that includes several A-list stars.<\/p>\n The Hall of Famer will hand the reins over to businessmen Gabe Plotkin<\/strong> (who already owns part of the Hornets) and Rick Schnall<\/strong>.<\/p>\n The buyer group also includes rapper J. Cole<\/strong> and country singer Eric Church<\/strong>, the team announced Friday.<\/p>\n MJ initially bought a minority stake of the franchise back in 2006 … and took the position of Managing Member of Basketball Operations.<\/p>\n <\/p>\n He became a majority owner in 2010 … buying the rest of the team from BET founder Robert L. Johnson<\/strong> for $275 million.<\/p>\n The two sides will put pen to paper in the next few days, according to reports.<\/p>\n Plotkin bought part of the Hornets back in 2019 … a move that, in hindsight, is now considered the first step in phasing Jordan out of ownership.<\/p>\n <\/p>\n Plotkin is the founder of Tallwoods Capital … and Schnall is co-president of Clayton, Dubilier & Rice, a private equity firm.<\/p>\n Jordan — who will keep a minority stake in the Hornets — will oversee basketball ops through the NBA Draft next week … as well as the start of free agency in July.<\/p>\n