Game, Stop! - The Hornets Ownership Thread

[fatlever]

It's official

https://www.nba.com/hornets/news/group-led-by-gabe-plotkin-and-rick-schnall-finalizes-purchase-of-majority-stake-in-charlotte-hornets-from-michael-jordan?mkt_tok=NzAxLVZVTC02ODgAAAGNWrp7_EIAlkk8qHpE1uTMfcxaU2Qgmj5NN8BLJ9PIoMFSyVO5C1PPXxSxSkQbqYPD5laJY-MuqlTx_Kt-kxCIZEoP2fvZbglMIbDlVpdqOND4


August 3, 2023 – Hornets Sports & Entertainment (HSE) announced today that the sale of the majority stake in the Charlotte Hornets from Michael Jordan to a group led by Gabe Plotkin and Rick Schnall has been finalized. The sale, which has been approved by the NBA Board of Governors, immediately gives Plotkin and Schnall the controlling interest in the franchise.

“The opportunity to be the majority owner of the Charlotte Hornets in my home state of North Carolina for the last 13 years has been a tremendous honor,” said Jordan. “I’m proud of all that the organization accomplished: the exciting on-court moments, the return of the Hornets name, Charlotte hosting the 2019 NBA All-Star Game and HSE becoming a true pillar of this community. Through the years, the unwavering commitment, passion and loyalty of our Hornets fans has been incredible. As I transition into a minority ownership role, I’m thrilled to be able to pass the reins to two successful, innovative and strategic leaders in Gabe and Rick. I know the Hornets organization is in great hands moving forward. I’m excited about the future of the team and will continue to support the organization and the community in my new role in the years ahead.”

Plotkin and Schnall said the following:

“We want to thank Michael for this opportunity, as well as his support throughout this process. During his ownership, he brought stability to the Hornets franchise, achieved many business milestones, reconnected and reinvested in the Charlotte community and has the organization positioned for greater success. We look forward to building upon this success in the years to come.

“As lifelong fans of the game of basketball and the NBA, we’re well aware of the importance of the sport in the Carolinas and we’re thrilled to take a controlling stake in the Hornets. We’re excited about the organization’s future. Charlotte is a great city and a thriving sports town. The Hornets fan base is one of the most passionate in all of sports. It is a privilege to own an NBA team. We understand the Hornets are a community asset and it is our responsibility to be good stewards for this franchise representing our community and entire fan base.

“Our vision is to take the Hornets to the next level, both on and off the court. We will look to build a highly competitive basketball team, develop innovative business practices, give back to our community and connect with our fans. We plan to further invest in the team, the facilities and the fan experience, with the goal of delivering a winner to our fans throughout the Carolinas. We are confident that our successful business backgrounds and our previous experience as NBA minority owners will be beneficial as we shape the future of the franchise as a best-in-class organization.”

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[fatlever]

Watch presser here at 1pm

https://www.nba.com/hornets/news/ownership-press-conference-08-03-2023

[LofJ]

Words are cheap, I'll believe they're committed to building a competitive organization once they actually start committing the necessary resources to accomplish that goal.

[fatlever]

In addition to Plotkin/Schnall CLT's new ownership group includes:

Chris Shumway, Dan Sundheim, Ian Loring, Andrew Schwartzberg, Dyal HomeCourt Partners, J. Cole, Eric Church, Amy Levine Dawson and Damian Mills, among others.

From Plowright

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[fatlever]

Words are cheap, I'll believe they're committed to building a competitive organization once they actually start committing the necessary resources to accomplish that goal.

100%. I'll believe it when they start cleaning out all of the friends and family from the front office, investing in the coaching staff training staff medical staff, as well as spending more money on taking care of the players, such as hotel accommodations on the road. Last but not least they could maybe spend a few bucks to get the PJ deal completed.

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[fatlever]

To Do List

1. Don't **** with branding, uniforms, etc... it's the best thing about the franchise

2. Maintain and improve relationship with the city, advertisers Etc. Jordan deserves credit for building the brand and saving us from Robert Johnson

3. Invest in the community, be part of the community,

4. Fix the TV situation. It's been decades since it was easy for people outside of the city of Charlotte to watch the hornets. They are huge chunks of this state that cannot watch the Hornets without illegal streams. It's ridiculous.

5. Clean out all the nepotism and yes men from the front office. Some of them may be competent at their jobs, but they will also always be Jordan's guys.

6. Invest in the team off the court. Invest in the coaching staff, medical staff, training staff, and no more staying in cheap hotels on the road. Make this an organization known for taking care of their staff and players. Aka, don't be f****** cheap.

7. Figure out a long-term solution for the general manager and coaching positions. Neither Mitch or Clifford should be here by this time next year.

8. Publicly commit to the city of Charlotte keep the franchise here long-term.

9. Get J Cole and Eric Church's face out there and involved in promoting the team. What's the point of having celebrity owners if they hide in the background never to be seen like Nelly

10. Communicate with the fans. One of the most frustrating aspects of the Jordan ownership error was his lack of transparency with the fan base.

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[yosemiteben]

If we keep the status quo for this year, next summer could be nuts.

Potentially massive cap space with Miles, PJ, and Gordo all expiring. Could decline to pick up club options on Bouk and Kai to free up another $10M in cap space.

Natural transition at GM and likely head coach coming. Would be thrilled to get a young GM and pull in Ty Lue, who seems like he might be headed out of LAC and would be a dream fit here.

Things could look super different in 12 months.

[HornetJail]

To Do List

1. Don't **** with branding, uniforms, etc... it's the best thing about the franchise

2. Maintain and improve relationship with the city, advertisers Etc. Jordan deserves credit for building the brand and saving us from Robert Johnson

3. Invest in the community, be part of the community,

4. Fix the TV situation. It's been decades since it was easy for people outside of the city of Charlotte to watch the hornets. They are huge chunks of this state that cannot watch the Hornets without illegal streams. It's ridiculous.

5. Clean out all the nepotism and yes men from the front office. Some of them may be competent at their jobs, but they will also always be Jordan's guys.

6. Invest in the team off the court. Invest in the coaching staff, medical staff, training staff, and no more staying in cheap hotels on the road. Make this an organization known for taking care of their staff and players. Aka, don't be f****** cheap.

7. Figure out a long-term solution for the general manager and coaching positions. Neither Mitch or Clifford should be here by this time next year.

8. Publicly commit to the city of Charlotte keep the franchise here long-term.

9. Get J Cole and Eric Church's face out there and involved in promoting the team. What's the point of having celebrity owners if they hide in the background never to be seen like Nelly

10. Communicate with the fans. One of the most frustrating aspects of the Jordan ownership error was his lack of transparency with the fan base.

Sent from my SM-G973U using RealGM mobile app

#5 and #6 are by far the most important things if there's ever going to be tangible changes for the better.

[Rich4114]

I think we can ALL agree that the biggest sign of positive change would be cleaning out the front office of friends and family then replacing them with the best basketball people available. Go pillage successful franchises for up and comers who are ready for bigger roles. Go hire consultants who have experience building successful organizations. Figure out who the long-term coach and GM should be; they have a chance to get a GM/HC duo who could come in here and shift the culture to a winning one. It's time to modernize the team constructing approach; get creative with trades and recognize that fit/chemistry is going to be what makes all of the parts come together.

[LofJ]

The lack of communication with fans has been maddening for a while. The social media people are fine, but everything else is lacking. This past year was the worst it's ever been. So many things happening and very little was said about any of it.

We still have no clue if Dell and Eric are going to be calling our games next year for example. You don't have to discuss details, just tell us you know how loved they are by the fanbase and that you hope to keep them in Charlotte. That's all you have to say, let us know you're paying attention and not just sitting back and cashing checks.

[yosemiteben]

The lack of communication with fans has been maddening for a while ... We still have no clue if Dell and Eric are going to be calling our games next year for example. You don't have to discuss details, just tell us you know how loved they are by the fanbase and that you hope to keep them in Charlotte. That's all you have to say, let us know you're paying attention and not just sitting back and cashing checks.

Neither Dell or Eric are employed by the Hornets, so I don't think this is something you can put on them.

I think it would be pretty bad business to comment on another business's employment relationships like that.

[LofJ]

The lack of communication with fans has been maddening for a while ... We still have no clue if Dell and Eric are going to be calling our games next year for example. You don't have to discuss details, just tell us you know how loved they are by the fanbase and that you hope to keep them in Charlotte. That's all you have to say, let us know you're paying attention and not just sitting back and cashing checks.

Neither Dell or Eric are employed by the Hornets, so I don't think this is something you can put on them.

I think it would be pretty bad business to comment on another business's employment relationships like that.

Why would it be bad business? The product of Bally Sports are the major sports leagues. If new ownership wants them to keep calling Hornets broadcasts they have a lot of power to ensure that happens.

[yosemiteben]

The lack of communication with fans has been maddening for a while ... We still have no clue if Dell and Eric are going to be calling our games next year for example. You don't have to discuss details, just tell us you know how loved they are by the fanbase and that you hope to keep them in Charlotte. That's all you have to say, let us know you're paying attention and not just sitting back and cashing checks.

Neither Dell or Eric are employed by the Hornets, so I don't think this is something you can put on them.

I think it would be pretty bad business to comment on another business's employment relationships like that.

Why would it be bad business? The product of Bally Sports are the major sports leagues. If new ownership wants them to keep calling Hornets broadcasts they have a lot of power to ensure that happens.

Because it would be pretty awkward to say "we love Dell and Eric" in a public statement when they are being let go / transitioning out.

[yosemiteben]

In Gabe's opener, he emphasized wanting to keep tenured people and to win "with the people that we have here."

Interesting.

[yosemiteben]

Read on Twitter

[JMAC3]

Pretty much no takeaways from the conference other than them trying to sell us on how much they like basketball, play basketball and will be around Charlotte because they like the city.

[TheCollector]

I like their answers. I feel like we have two guys who think strategically about how to improve the team and build a winner. I also think that while they won't make any changes in management this season, Mitch and Fred better impress if they want to hang around any longer than the 2023-24 season.

[LofJ]

Dell introduced them, that's a good sign. And Rick Schnall said he expects Bally to obey the terms of their contract and continue to broadcasts games. But if they don't he said alternate arrangements will be made.

They also talked a lot about renovations and getting the new practice facility built. They promised a better fan experience at the games and that renovations will start this year and continue into next year.

Overall I got a decent vibe from both of them. They answered some uncomfortable questions and seemed more knowledgeable of the NBA than I was expecting.

[SWedd523]

In Gabe's opener, he emphasized wanting to keep tenured people and to win "with the people that we have here."

Interesting.

[SWedd523]

Read on Twitter

Meanwhile the Suns new owner