On Saturday, Michael Jordan announced that the Charlotte Hornets’ ownership group will add a pair of partners.
New York investors Gabe Plotkin, founder and Chief Investment Officer of Melvin Capital, and Daniel Sundheim, founder and Chief Investment Officer of D1 Capital, will join Hornets Sports & Entertainment (HSE). The transaction is subject to NBA approval.
Jordan “will continue to run the Charlotte Hornets, make all decisions related to the team and organization, and remain the team’s NBA Governor,” according to a statement from HSE.
“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,” Jordan said.
In 2010, the six-time NBA champion purchased controlling stake of the Hornets from BET founder Bob Johnson.