Connect with us

Headlines

Sources: Michael Jordan to Sell Part of Hornets

Basketball Insiders

Published

on

Michael Jordan has agreed to sell a large piece of the Charlotte Hornets to two New York-based investors, a sale expected to close in the next few weeks that was first reported by the Observer.

A source familiar with the deal said it does not involve the former NBA Most Valuable Player giving up majority ownership of the NBA franchise. Jordan controls about 97 percent of Hornets equity, two sources confirmed.

Jordan is bringing in Gabe Plotkin, a founder of Melvin Capital, and Daniel Sundheim, a founder of DI Capital. Both prospective owners must be approved by the NBA, but that process is already underway and the sale is expected to close quickly, a league source confirmed.

Source: Rick Bonnell of the Charlotte Observer

Advertisement




Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Headlines

Report: Bradley Beal, Wizards Agree to Two-Year Extension

Basketball Insiders

Published

on

In a commitment carrying leaguewide ramifications, Washington Wizards All-Star guard Bradley Beal has agreed to extend his deal for two years on a $72 million maximum contract, agent Mark Bartelstein of Priority Sports told ESPN on Thursday morning.

Beal’s extension, which will begin with the 2021-22 season, includes a player option for 2022-23 that keeps him out of free agency for three more seasons and guarantees him nearly $130 million over four years.

Assuming that Beal, 26, declines his player option upon reaching 10 years of service in 2022 to re-sign with Washington, he would be eligible to sign the largest contract in NBA history: five years for $266 million.

To leave Washington in three years, Beal could sign a four-year, $198 million deal with a new team.

Source: Adrian Wojnarowski on Twitter

Continue Reading

Headlines

Sources: Pistons ‘very open’ to Trading Langston Galloway

Basketball Insiders

Published

on

Two league sources tell the Free Press the Pistons are very open to moving [Langston] Galloway, which isn’t surprising. The Pistons have engaged teams on Galloway for months, but his price tag (one year, $7.3 million) remains a challenging roadblock.

Source: Vince Ellis of the Detroit Free Press

Continue Reading

Headlines

Report: Ante Zizic Out Four Weeks with Plantar Fasciitis in Left Foot

Basketball Insiders

Published

on

Cleveland Cavaliers center Ante Zizic will be sidelined for approximately four (4) weeks after missing all four preseason games with discomfort and soreness in his left foot. Imaging at Cleveland Clinic Sports Health and evaluation by the Cavaliers medical staff revealed Zizic is experiencing plantar fasciitis in his left foot. Zizic will now undergo a period of treatment and rehabilitation and his return to play will be updated as appropriate.

Source: Cleveland Cavaliers

Continue Reading
Advertisement

NBA Team Salaries

Advertisement

CloseUp360

Insiders On Twitter

NBA On Twitter

Trending Now