Gabe Plotkin and Rick Schnall completed the acquisition of a majority stake in Charlotte Hornets from Michael Jordan.

Gabe Plotkin and Rick Schnall completed the acquisition of a majority stake in Charlotte Hornets, a basketball club, from Michael Jordan. Financial terms were not disclosed. The Buyer Group will also include Chris Shumway, Dan Sundheim, Ian Loring, Dyal HomeCourt Partners, North Carolina natives recording artist J. Cole and country music singer-songwriter Eric Church, and several local Charlotte investors, including Amy Levine Dawson and Damian Mills. As part of the transaction, Jordan will retain a minority ownership share of the team.