Kofi Inkoom
Exciting news has hit the basketball world as North Carolina’s very own recording artist, J. Cole, takes a step beyond the music scene and dives into sports ownership. Alongside a diverse group of buyers, including Chris Shumway, Dan Sundheim, Ian Loring, Dyal HomeCourt Partners, country music singer-songwriter Eric Church, and local Charlotte investors Amy Levine Dawson and Damian Mills, J. Cole has set his sights on acquiring the beloved Charlotte Hornets basketball team.
Hornets Sports & Entertainment (HSE) recently made a groundbreaking announcement that Chairman Michael Jordan has agreed to sell his majority stake in the Charlotte Hornets to a group known as the Buyer Group. Led by Gabe Plotkin and Rick Schnall, this group also includes the talented rapper J. Cole among its members. With their shared passion for basketball and love for their home state of North Carolina, this collaboration promises a unique blend of music and sports expertise.
Gabe Plotkin, who became a minority owner of the Hornets in 2019, brings a wealth of experience to the table. As the founder and chief investment officer of Tallwoods Capital LLC, Plotkin has a keen eye for successful ventures. He has been an alternate governor on the NBA Board of Governors since 2019, demonstrating his commitment to the sport and its growth. Joining him is Rick Schnall, co-president of Clayton, Dubilier & Rice LLC, a distinguished firm where he has dedicated 27 years of his career. Schnall has also made his mark as a significant minority owner of the Atlanta Hawks and an alternate governor on the NBA Board of Governors since 2015.
While J. Cole, Gabe Plotkin, and Rick Schnall bring diverse backgrounds to the table, they all share a common goal: revitalizing the Charlotte Hornets and bringing a renewed sense of excitement to the team and its fans. This dynamic trio, alongside other local investors, including Amy Levine Dawson and Damian Mills, are eager to infuse their collective expertise and resources into the team, paving the way for a promising future.
Michael Jordan’s Involvement
As part of this transformative transaction, Michael Jordan will retain a minority ownership share in the Charlotte Hornets. The sale is still pending approval from the NBA Board of Governors, highlighting the meticulous process involved in such significant ownership changes. Jordan’s ongoing involvement ensures a smooth transition and the preservation of his legacy within the franchise.
With J. Cole joining forces with prominent investors and the Buyer Group, the Charlotte Hornets are poised for an exciting new chapter. This unexpected collaboration brings together the worlds of music and sports, promising a fresh perspective and invigorating energy. As the transaction awaits approval, fans eagerly anticipate the impact J. Cole and his fellow owners will have on the team’s success, as well as their commitment to the growth of basketball in North Carolina. The stage is set for a remarkable journey filled with harmony, talent, and a shared vision of greatness.