Michael Jordan owned the New York Knicks throughout his NBA career, but James Dolan nevertheless attempted to prevent him from selling the Charlotte Hornets.
According to ESPN’s Adrian Wojnarowski, the NBA’s board of governors approved the Hornets sale to Rick Schnall and Gabe Plotkin for approximately $3 billion. All of the NBA’s 30 owners aside from Dolan voted in favor.
ESPN Sources: The BOG vote was 29-1 to approve the sale. Knicks owner James Dolan registered the lone vote against.
— Adrian Wojnarowski (@wojespn) July 23, 2023
While Jordan will keep a minority stake in the Hornets, a 13-year tenure as the majority owner will end. He purchased his stake of the franchise for $275 million.
Charlotte has stayed stuck in mediocrity during his oversight. The Hornets never advanced past the postseason’s first round under Jordan’s ownership and last made the playoffs in 2016.
A new regime will look to turn the corner behind No. 3 pick Brandon Miller. Plotkin previously held a minority stake in the Hornets, and Schnall was a minority buyer of the Atlanta Hawks in 2015.
Per Wojnarowski, the sale is expected to be finalized in the next week or two.
It’s unclear why Dolan–and only Dolan–didn’t like the deal, but taking a contrarian stance wouldn’t be much out of character. At least his presence ensures that Plotkin and Schnall will face no imminent danger of becoming the least popular NBA owners.
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