NBA approves two minority owners for Hornets

The NBA approved the addition of two people to the Charlotte Hornets ownership team on Friday. Owner Michael Jordan's new partners are Gabe Plotkin, a founder of Melvin Capital, and Daniel Sundheim, a founder of DI Capital.

The percentage of the team purchased by Plotkin and Sundheim has not been disclosed. The Charlotte Observer earlier this month called it "a large piece" but said Jordan would retain majority ownership. "While I will continue to run the Charlotte Hornets, make all decisions related to the team and organization, and remain the team's NBA Governor, Gabe and Dan's investment in the team is invaluable," said Jordan in a team-released statement.

Mitch Kupchak will remain as the president of basketball operations and general manager. Jordan, a six-time NBA champion as a Hall of Fame player, bought the Hornets for about $180 million in 2010 and controlled about 97 percent of the team equity before the buy-in by Plotkin and Sundheim. Earlier this year, Forbes valued the Hornets at about $1.3 billion -- 28th of the 30 NBA teams.

Jordan is the only former player who currently owns a majority stake in any of the NBA'd 30 franchises. 

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