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Tag: Hornets

  • Michael Jordan agrees to sell Hornets stake for $3B

    Michael Jordan agrees to sell Hornets stake for $3B

    Michael Jordan has agreed to sell his majority stake in the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall for an approximately $3 billion valuation, according to league sources. The transaction ends Jordan’s 13-year run as majority owner.

    Schnall, a minority owner with the Atlanta Hawks, and Plotkin, a minority owner with the Hornets, will become the franchise’s governors once the NBA completes its vetting and approval process. Jordan will continue to oversee basketball operations through Thursday’s NBA draft and the start of free agency July 1.

    ESPN’s Adrian Wojnarowski reports said, once the sale is complete, Jordan will keep a minority stake and maintain a presence with the franchise.

    Jordan, a six-time NBA champion and five-time MVP, is largely considered to be the greatest player in the history of the game and has been the league’s only Black majority owner. Jordan paid $275 million for a majority stake in the franchise in 2010.

    Jordan sold a significant minority stake to Plotkin, founder and chief investment officer of Melvin Capital, and Daniel Sundheim, founder and CIO of D1 Capital, in 2020, and Sundheim is part of the group purchasing the Hornets, sources said.

    Schnall, co-president at private equity firm Clayton, Dubilier & Rice in New York, was part of a group including majority owner Tony Ressler and Grant Hill that purchased the Hawks in 2015 for $850 million.

    After a 27-55 season riddled with injuries to most of the team’s top players, the Hornets hold the No. 2 pick in the draft.

     

     

  • Super Eagles goalie Maduka Okoye loses debut game with Watford

    Super Eagles goalkeeper, Maduka Okoye, started on a losing note on his debut game for his new club Watford FC of England.

    The Hornets  were beaten 3-1 by Cambridge United at the club’s London Colney training ground in a pre-season friendly game.

    His Super Eagles teammates , Emmaunel Dennis and William Troost-Ekong did not feature in the encounter.

    Okoye was beaten in the 16th minute when Harvey Knibbs received the ball on the edge of the box and scored with an angled shot into the bottom corner.

    The 22-year-old was among the  eight changes Edwards made at the break, including pairing Joao Pedro with Kwadwo Baah up front.

    Okoye was subbed out and replaced by reserve goalkeeper Daniel Bachmann who went on to concede two goals in the game.

    Northern Ireland U-21 international midfielder JJ McKiernan, who moved to Vicarage Road from Andover Town in 2018, was introduced as was defender Mattie Pollock.

    Watford’s next friendly game is against Bolton Wanderers which comes up on Tuesday, July 12.

    Meanwhile, other pre-season friendly games lined up for the Hornets are Wycombe Wanderers, Millwall and Southampton.

    Watford are relegated and will do business in the lower division of English football for the season 2022/2023 with the hopes of gaining promotion back  to the EPL.