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Michael Jordan Selling Majority Ownership Stake In Charlotte Hornets In 2023

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CHARLOTTE, N.C. The Charlotte Hornets announced on Friday that Michael Jordan is finalizing an agreement to sell the team’s majority stake, leaving the NBA’s 30 teams without any Black majority ownership.

According to the Hornets, Jordan is selling to a group headed by Gabe Plotkin and Rick Schnall. Since 2019, Plotkin has had a minor ownership interest in the Hornets. Since 2015, Schnall has had a minority ownership stake in the Atlanta Hawks and is currently selling that stake.

It’s still being determined how long it will take for the NBA Board of Governors to approve the sale. Jordan intends to maintain a small ownership position in the Hornets, a franchise he paid around $275 million for in 2010.

Jordan’s decision to sell marks the end of his disastrous 13-year tenure as organization manager.

Earlier this month, during the NBA Finals, NBA Commissioner Adam Silver remarked, “In the same way that it’s amazing that one of our greatest, Michael Jordan, could become the principal governor of a team, he has the absolute right to sell at the same time. Values have increased significantly since he purchased the squad, so that is his choice.

Silver stated at the finals news conference that the Board of Governors emphasizes ownership group diversity.

Silver stated, “I would love better representation regarding principal governors. “This is a market. The league could focus directly on it if we were to grow, but when it comes to individual team transactions, the market determines where we end up.

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The Charlotte Hornets announced on Friday that Michael Jordan is finalizing an agreement to sell the team’s majority stake.

ESPN said the franchise was valued at $3 billion, citing sources, although the sale price was not immediately disclosed. The Phoenix Suns were the most recent NBA team to be sold when Mat Ishbia acquired them in a December deal valued at $4 billion.

Jordan’s spokeswoman, Estee Portnoy, declined to comment on the deal.

Even though Michael Jordan was an outstanding player on the court—a national champion at North Carolina, a two-time Olympian with a gold medal, a six-time NBA champion, and a perennial contender for the finest player ever—the Hornets never won a championship during his ownership.

In his 13 seasons as coach, Charlotte had a 423-600 record, the 26th-best mark. It hasn’t even made the postseason in the past seven seasons, and during that time, it has yet to win a single playoff series.

Recording artist J. Cole, Dan Sundheim, Ian Loring, country music singer-songwriter Eric Church, Chris Shumway, and several Charlotte-area investors, including Amy Levine Dawson and Damian Mills, are further members of the new possible Hornets ownership group, which is now awaiting clearance.

Along with the Hornets, HSE ownership includes:

  • Running the Spectrum Centre.
  • Managing the Greensboro Swarm of the NBA G League.
  • The Hornets Venom GT of the NBA 2K League.

All of them are included in the transaction.

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The Charlotte Hornets announced on Friday that Michael Jordan is finalizing an agreement to sell the team’s majority stake.

It generated a lot of noise when Jordan, raised in Wilmington, North Carolina, bought most of the squad.

Jordan was disturbed by the Hornets’ difficulties and inability to change their fortunes. When he sold a minority stake to Plotkin and Sundheim in 2020, it was the first indication that he was preparing to exit the NBA ownership industry.

The Hornets, who have the No. 2 choice in the NBA Draught, are coming off a 27-55 season marred by injuries. On Thursday night, Victor Wembanyana is anticipated to be selected first overall, leaving Charlotte to choose between Scoot Henderson, a talented guard in the G League, and Brandon Miller from Alabama.

LaMelo Ball is Charlotte’s biggest star, but the team also has some solid role players to build around in Terry Rozier, Gordon Hayward, P.J. Washington, and Mark Williams, the starting center who excelled as a rookie last season.

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As an owner, Jordan was frequently criticized for not making enough free-agent signings to make the Hornets competitive.

In 2010, he took over a club that the Orlando Magic had swept in the first round after winning 44 games the year before.

Following then, things became worse.

Charlotte, still known as the Bobcats, then finished 34-48 in Jordan’s first season in charge before posting an NBA-worst 7-59 record the following season. Nevertheless, despite their horrible record, Charlotte could not secure Anthony Davis and the top selection in the NBA draught.

2013–14, Charlotte made it back to the playoffs, but the Miami Heat swept them. The Hornets won 48 games the following season but fell to the Heat in the opening round again, this time in seven games.

Only one winning season and two early exits from the play-in tournament as the 10 seed has occurred for Jordan’s Hornets in the seven years since.

Charlotte hasn’t won an NBA championship or a playoff series since the 2001–02 season.

SOURCE – (AP)

Kiara Grace is a staff writer at VORNews, a reputable online publication. Her writing focuses on technology trends, particularly in the realm of consumer electronics and software. With a keen eye for detail and a knack for breaking down complex topics, Kiara delivers insightful analyses that resonate with tech enthusiasts and casual readers alike. Her articles strike a balance between in-depth coverage and accessibility, making them a go-to resource for anyone seeking to stay informed about the latest innovations shaping our digital world.

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Yoko Ono To Receive Edward MacDowell Medal For Lifetime Achievement

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NEW YORK — MacDowell, one of the country’s finest artist residence programs, has honored Yoko Ono with a lifetime achievement award. The trailblazing artist, filmmaker, and musician will receive the Edward MacDowell Medal this year, following in the footsteps of Stephen Sondheim and Toni Morrison, among others.

“There has never been anyone like her; there has never been work like hers,” MacDowell board chairman Nell Painter said in a statement Sunday.

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Yoko Ono To Receive Edward MacDowell Medal For Lifetime Achievement

“Over seven decades, she has pleased eyes, aroused mind, encouraged feminism, and supported refugees with imaginative works. Enduringly new and contemporary, her unusually powerful output resonates to our current times, which are in desperate need of her leitmotif: peace.”

In a statement, Ono’s son, Sean Ono Lennon, described the award as “an incredible honor.”

“The history and list of prior awardees are extremely impressive. It makes me very glad to see her work valued and celebrated in this manner,” he remarked.

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Yoko Ono To Receive Edward MacDowell Medal For Lifetime Achievement

Ono, 91, has made few public appearances in recent years and is unlikely to attend the July honors event at the MacDowell campus in Peterborough, New Hampshire. David Newgarden, Ono’s music manager, will receive the award on her behalf.

Ono first rose to prominence as a member of the avant-garde Fluxus movement of the 1960s, before becoming internationally famous after meeting John Lennon, with whom she married from 1969 until his death in 1980. Their many collaborations included the songs “Give Peace a Chance,” “Imagine,” and “Happy Xmas (War Is Over),” which served as the foundation for “War Is Over! Inspired by the Music of John & Yoko,” this year’s Oscar-winning animated short film.

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Yoko Ono To Receive Edward MacDowell Medal For Lifetime Achievement

Over the last 40 years, Ono has had a busy career as a visual and recording artist, with albums like “Season of Glass,” “Starpeace,” and “Take Me to the Land of Hell.” She was recently featured in a career retrospective at London’s Tate Modern.

SOURCE – (AP)

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Not A Toddler, Not A Parent, But Still Love ‘Bluey’? You’re Not Alone

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Phoenix — A little blue dog with an Australian accent has captivated the hearts of people all around the world.

She is the titular character of “Bluey,” a seven-minute children’s show that has captivated both kids and adults. This week’s publication of its longest episode yet, at 28 minutes, elicited an outpouring of praise for the show, even from those who are neither toddlers nor parents.

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Not A Toddler, Not A Parent, But Still Love ‘Bluey’? You’re Not Alone

“Bluey” follows an Australian blue heeler and her sister, a red heeler named Bingo, as they navigate the days between home and school. It’s popular with kids because of its fun comedy, but it also appeals to adults who miss their childhood.

“My childhood experience wasn’t the best, so I’ve always identified with shows where life is good,” says Miriam Neel, who lives in Colorado. “The parents in ‘Bluey’ enable imagination and creativity and really get involved with their kids, and I wish I had those experiences.”

Neel is 32 and has decided not to have any children of her own. She claims the show has become a part of her morning ritual and is frequently used as background noise when working from home.

“I won’t speak for the entire generation, but millennials find solace in cartoons. “It’s what most of us grew up watching,” she explained. “And if I’m going to spend time watching something, I’d rather watch something that doesn’t make me afraid of the world, like any of the ‘Law & Order’ shows.”

Not A Toddler, Not A Parent, But Still Love ‘Bluey’? You’re Not Alone

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“Bluey,” which currently has over 150 episodes, aired in Australia in 2018 and will begin streaming on Disney+ in 2020. It has also been transformed into a digital series in which prominent fans such as Bindi Irwin and Eva Mendes read excerpts from popular storybooks, as well as a live theater act that travels the world.

The show has also received numerous accolades, including the Australian Film Institute Award for Best Children’s Television Drama every year since 2019 and an International Emmy Kids Award.

The series presents a child’s viewpoint on morning routines, errands, and chores, as well as a glimpse into the lives of parents through mother Chilli and father Bandit.

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Not A Toddler, Not A Parent, But Still Love ‘Bluey’? You’re Not Alone

This week’s special episode, “The Sign,” delves into the emotions surrounding subjects that are relevant to both children and adults, such as moving residences, marriage, infertility, and post-divorce relationships. In addition to these universal themes, the episode concludes the third season with Easter eggs for loyal viewers.

SOURCE – (AP)

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Dick Van Dyke Earns Historic Daytime Emmy Nomination At Age 98

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Los Angeles — Dick Van Dyke, 98, is contending for a historic Daytime Emmy.

The actor was nominated Friday as a guest star in a daytime drama series for his role as amnesiac Timothy Robicheaux on Peacock’s “Days of Our Lives.

Van Dyke is the oldest daytime Emmy nominee. When producer Norman Lear won his final Primetime Emmy nomination in 2022, he was 100 years old. He died the following year.

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Dick Van Dyke Earns Historic Daytime Emmy Nomination At Age 98

Van Dyke is up against Guy Pearce, an Australian actor from Amazon Prime Video’s “Neighbours.”

Van Dyke earned four Primetime Emmys, including three in the 1960s, for his legendary comedy series “The Dick Van Dyke Show.”

Selena Gomez, an actor and singer, is nominated in the culinary series category for her Food Network special “Selena + Chef: Home for the Holidays.” The Food Network’s “Valerie’s Home Cooking,” hosted by actor Valerie Bertinelli and which concluded last year, is also nominated in that category.

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Dick Van Dyke Earns Historic Daytime Emmy Nomination At Age 98

CBS will cancel “The Talk” after its 15th season later this year. Akbar Gbajabiamila, Amanda Kloots, Natalie Morales, Jerry O’Connell, and Sheryl Underwood were nominated for daytime talk show hosting.

The main actress nominations are Tamara Braun of “Days of Our Lives,” Finola Hughes and Cynthia Watros of “General Hospital,” Katherine Kelly Lang and Annika Noelle of “The Bold and the Beautiful,” and Michelle Stafford of “The Young and the Restless.”

The lead actor nominees include Eric Braeden of “The Young and the Restless,” Scott Clifton, Thorsten Kaye, and John McCook of “The Bold and the Beautiful,” and Eric Martsolf of “Days of Our Lives.”

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Dick Van Dyke Earns Historic Daytime Emmy Nomination At Age 98

The Daytime Emmys will be broadcast live on CBS on June 7 in Los Angeles. The show is back to its regular schedule after being postponed until December due to strikes by Hollywood performers and writers. The hosts and Lifetime Achievement award recipients will be announced later.

SOURCE – AP

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