J. Cole Joins New Ownership Group of the Charlotte Hornets
Las Vegas, NV/USA - 9/24/16: Jermaine Lamarr Cole known as J. Cole performs at Life Is Beautiful Festival in Las Vegas. Cole has been nominated for several Grammy Awards.
By: Adonis Armstrong
An agreement has been reached by Michael Jordan to sell the majority stake he holds in the NBA team, Charlotte Hornets.
This significant development could potentially usher in the dawn of a new era in Charlotte, as the Hornets have endured a longstanding reputation as one of the NBA's least successful teams. Since Jordan took on majority ownership in 2010, the team has only achieved three winning seasons and made two playoff appearances. Under the guidance of head coach Steve Clifford, the team recorded a disappointing 27-55 record last season, while the 2022-23 campaign marked Clifford's return for his second tenure with the Hornets
Today June 16th, Hornets Sports & Entertainment announced that Michael Jordan is in the process of selling his stake in the Charlotte Hornets to "The Buyer Group," led by Gabe Plotkin and Rick Schnall, who have previously been involved in minority team ownership. Notably, Plotkin also holds a significant stake in the Atlanta Hawks, which he is currently in the process of selling.
Read the full release on https://t.co/BzkRIrrehy.
— Charlotte Hornets (@hornets) June 16, 2023
🔗 https://t.co/roYUH9ilgI pic.twitter.com/N17fYc0HBp
Within “The Buying Group,” a notable addition is J. Cole, the decorated emcee, who will join as a part-owner of the Hornets. The 38-year-old rapper, hailing from Fayetteville, North Carolina, has deep roots in the state, hosting his annual Dreamville Festival there. While universally known for his music, J. Cole has consistently showcased his passion for basketball throughout the years, highlighting his admiration for the sport.
A decade ago, during an interview with Sports Illustrated, he expressed, “I was always in love with basketball as a kid, but I thought I was way better than I really was.” In the year 2021, Cole inked a contract with the Rwanda Patriots of the African Basketball League, committing to play in a series of three to six games.
The Fayettenam vet, Hollywood Cole, is a passionate Hornets fan who has been actively featured on the team's digital platforms in recent years, solidifying his connection to the organization. His involvement in assisting Caleb Martin's signing with the Miami Heat in 2021 has further propelled him into the spotlight. I believe he has a great future within the organization and the potential to turn the Hornets around.
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