J. Cole Becomes Charlotte Hornets Minority Owner in $3 Billion Sale
Grammy-winning rapper J. Cole joins the Charlotte Hornets as a minority owner following Michael Jordan's sale approval. We discuss it here!
Las Vegas, NV/USA - 9/24/16: Jermaine Lamarr Cole known as J. Cole performs at Life Is Beautiful Festival in Las Vegas.
Credit: Sterling Munksgard via Shutterstock
By: Adonis Armstrong
J. Cole joins the Charlotte Hornets as a minority owner following the NBA's approval of Michael Jordan's sale. ESPN reports that the group led by millionaire Gabe Plotkin and Rick Schnall secured the team in a 29-1 vote, with the New York Knicks' owner, James Dolan, being the sole dissenter.
In June 2023, initial reports emerged indicating J. Cole's intention to become a part-owner of the Charlotte team. Following Michael Jordan's announcement of selling his majority stake in the NBA team, Cole, being a North Carolina native, signed a contract to join the ownership.
The Charlotte Hornets were sold for around $3 billion, and the sale is expected to be finalized within the next one to two weeks. In celebration, J. Cole's close friend and business partner, Ibrahim H., expressed gratitude for Cole on Twitter. “Official. Congrats to my dawg @JColeNC,” he tweeted on Sunday July 23rd.
Official. Congrats to my dawg @JColeNC. https://t.co/QbAQgwqHPE
— Ibrahim H. (@KingOfQueenz) July 23, 2023
As the NBA finalizes the deal, Michael Jordan's ownership era for the franchise comes to a close. However, he will remain a minority owner alongside country singer Eric Church, Chris Shumway, Dan Sundheim, Ian Loring, and Dyal HomeCourt Partners. The acquisition also includes involvement from several local Charlotte investors, such as Amy Levine Dawson and Damian Mills.
“Hornets Sports & Entertainment announced today that chairman Michael Jordan has reached an agreement to sell his majority stake in the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall,” the press release read. “As a part of the transaction, Jordan will retain a minority ownership share of the team. The transaction is subject to the approval of the NBA Board of Governors.”
J. Cole could be stepping into an great opportunity with the Hornets. Despite finishing 14th in the Eastern Conference last season, the team boasts an impressive roster of young stars. With LaMelo Ball already on board and the recent addition of Brandon Miller as the 2nd overall pick in the 2023 NBA Draft, the Hornets have the potential to become a formidable force, much like the Sacramento Kings.
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50 Cent Sacramento Kings Collaborate to Introduce Youth Sports & Mentoring League
50 Cent has partnered with the Sacramento Kings to establish the Kings and Queens Rise Co-Ed Youth Sports and Mentoring League through his G-Unity Foundation. We discuss it here!
LOS ANGELES, CA. January 30, 2020: Curtis 50 Cent Jackson at the Hollywood Walk of Fame Star Ceremony honoring Curtis "50 Cent" Jackson. Pictures: Paul Smith/Featureflash
By: Adonis Armstrong
In a recent interview with The Sacramento Bee, the New York Mogul 50 Cent announced a collaborative partnership between his G-Unity Foundation and the Sacramento Kings, resulting in the establishment of the Kings and Queens Rise Co-Ed Youth Sports and Mentoring League.
“The fastest way to achieve what you’d like to achieve is not necessarily the right way,” Jackson stated. “So a lot of the temptation is to go in the wrong direction to achieve what you want when you’re younger. This is why these programs are effective.”
On Monday, he took to Instagram to share the link to the article, with the caption. “It’s a great program King & Queens rise. I had fun hanging out with the kids, if we keep them active, they won’t go get in trouble.”
During the interview itself, 50 Cent commented, “I think idle time is the devil’s time. Especially in inner cities where you got so many different distractions, so many different influences, positive and negative.” He also added: “They get a chance to be part of that team effort. I think it teaches them lessons that are priceless in the early stages.”
This isn't the first collaboration between 50 Cent and the Kings' organization, as his beverage company, Sire Spirits, is already an official partner of the team. The interview coincides with 50 Cent's upcoming tour, which might potentially be his last.
During a recent Instagram post, 50 Cent revealed that his upcoming Final Lap Tour could potentially mark his final worldwide tour. “Because ticket sales are doing so well they’re adding new markets so the UK, North America, and possibly Australia will be in there. I gotta get to Africa, I got a lot of spots I gotta hit before I be done, because this is the Final Lap Tour. I won’t be running around like this no more,” he expressed. He also stated, “I gotta do my film and television stuff and got a lot of other things going on behind the scenes that I gotta work on. So I won’t be out touring as much as I’ve been touring… I’m having fun this time because it’s set up to enjoy myself, we not feeling pressure.”
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Meet Adonis Armstrong, Co-Founder & President of 247 Live Culture!
Email: Adonis@247LiveCulture.com