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.
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Sources: Clippers, Tyronn Lue Agree to Deal
Ty Lue has agreed to a five-year deal to become the next head coach of the LA Clippers, sources told ESPN on Thursday.
The Clippers and Lue’s representative in the contract talks, Andy Miller, completed negotiations on a deal Thursday afternoon, sources said.
The Clippers’ search landed on Lue based upon a confidence that his championship pedigree and playoff successes as a head coach in Cleveland, as well as his strong ability to communicate with players, will resonate within a franchise that underachieved in the 2019-2020 season.
Source: Adrian Wojnarowski of ESPN
Sources: Anthony Davis to Opt Out, Re-Sign with Lakers
Source: Shams Charania of The Athletic