J. Cole Joins Ownership Group to Buy the Charlotte Hornets: rapper J. Cole is making headlines as he joins an ownership group that is set to purchase the Charlotte Hornets, North Carolina’s beloved NBA team. The team’s former owner, Michael Jordan, has agreed to sell the Hornets to a group that includes the Carolina-based musician.
The buyer’s roster includes notable names such as Gabe Plotkin, a current part-owner of the Hornets, and Rick Schnall, an equity manager and former minority owner of the Atlanta Hawks. With J. Cole’s fondness for basketball no secret, his involvement with the NBA expands beyond his music. From gracing the cover of NBA 2K23 to influencing the Miami Heat’s decision to sign Caleb Martin, J. Cole has left his mark on the sport. He has even taken to the court himself, participating in the BAL, a collaboration between the NBA and FIBA. Adding ownership of the Charlotte Hornets to his repertoire gives the award-winning artist another exciting reason to attend games and further indulge his passion for basketball.
J. Cole Joins Ownership Group to Buy the Charlotte Hornets
The ownership group, led by Plotkin and Schnall, awaits approval from the NBA Board of Governors. Once approved, they will assume administrative roles for the Hornets. Meanwhile, Jordan, arguably the greatest basketball player of all time, will remain involved with the team as a minority owner.
Under Jordan’s leadership since 2010, the Hornets have seen limited success, making the playoffs only twice. The franchise hopes that this change in ownership will bring about a new era of triumph and rejuvenation.
The agreed-upon deal values the Charlotte Hornets at an estimated $3 billion, representing a significant step for J. Cole in his relationship with the Tar Heel State. Their involvement signals a fusion of sports and music, a trend that has gained traction in recent years.
With their unique backgrounds and evident love for North Carolina, the new owners offer a breath of fresh air for the franchise. The convergence of sports and music in this acquisition brings excitement and anticipation for the future of the Charlotte Hornets. As J. Cole and his fellow owners take the reins, fans can look forward to a new chapter filled with potential and the opportunity to create a winning legacy in the heart of North Carolina.
Michael Jordan is selling his majority stake in the Charlotte Hornets to the Gabe Plotkin/Rick Schnall group for an approximate $3 billion valuation, league sources tell ESPN. pic.twitter.com/zDuhsg8mDE— Adrian Wojnarowski (@wojespn) June 16, 2023