NBA: J. Cole Officially Becomes Hornets Owner

ESPN Sources: The NBA’S Board of Governors has approved the sale of the Charlotte Hornets to a group led by Rick Schnall and Gabe Plotkin, clearing the way to end Michael Jordan’s 13-year run as majority owner.

J. Cole becomes a minority owner of the Charlotte Hornets after the NBA approves Michael Jordan’s sale. According to ESPN, the group led by Millonarie Gabe Plotkin and Rick Schnall will acquire the team in a 29-1 vote, with only the owner of the New York Knicks, James Dolan, voting against the transaction.

The Hornet was sold for approximately $3 billion, with the sale looking to be completed in the “next one to two weeks”. To celebrate the occasion, Cole’s right-hand man and best friend, Ibrahim H., took to Twitter to give props to his business partner. “official. Congrats to my dwag J Cole NC,” He tweeted on Sunday (July 23).

While Charlotte Hornets are coming off a season in which they finished 14th in the Eastern Conference, they have plenty of young stars. In addition to already having Lamelo Ball on the roster, the team also just selected Brandon Miller with the 2nd overall pick in the 2023 NBA Draft.