Michael Jordan sells portion of Hornets to two new partners

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CHARLOTTE, N.C. (AP) — Michael Jordan is adding two partners to the Charlotte Hornets’ ownership group, selling them each a portion of the NBA franchise.

Gabe Plotkin, founder and chief investment officer of Melvin Capital, and Daniel Sundheim, founder and chief investment officer of D1 Capital, have joined the Hornets as partners, pending NBA approval.

Jordan, a six-time NBA champion, will remain the majority owner.

Jordan said in a statement released by the team Saturday that he’ll continue to be the man making decisions about the direction of the Hornets.

“I’m excited to welcome Gabe and Dan as my partners in Hornets Sports & Entertainment,” Jordan said. “While I will continue to run the Charlotte Hornets, make all decisions related to the team and organization, and remain the team’s NBA Governor, 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. Both Gabe and Dan are industry standard-setters and proven leaders, with a belief in philanthropy and a passion for the game of basketball. They share my commitment to Charlotte and the Carolinas, and I look forward to working with and learning from them.”