Michael Jordan's Charlotte Hornets Sale: Outpacing His NBA Fortune And How You Can Get In On The Action
Portfolio Pulse from Chris Katje
Michael Jordan is selling his majority stake in the Charlotte Hornets to an ownership group led by Gabe Plotkin and Rick Schnall, valuing the team at $3 billion. Dyal HomeCourt Partners, a unit of Blue Owl Capital (NYSE:OWL), is also investing in the Hornets.
June 16, 2023 | 7:41 pm
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NEUTRAL IMPACT
Gabe Plotkin, founder of Melvin Capital, which shorted GameStop and closed in 2022, is part of the ownership group buying Michael Jordan's majority stake in the Charlotte Hornets.
The mention of Gabe Plotkin's involvement in the Charlotte Hornets deal is not directly related to GameStop's business operations or financial performance. The connection to Melvin Capital's shorting of GameStop is a historical reference and is unlikely to have a short-term impact on GameStop's stock price.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 30
NEUTRAL IMPACT
Michael Jordan's sale of the Charlotte Hornets highlights his earnings from his Nike deal, which is estimated at $1.8 billion.
The sale of the Charlotte Hornets is a significant financial transaction for Michael Jordan, but it does not directly impact Nike's business operations or financial performance. The mention of Jordan's earnings from his Nike deal serves as a reminder of the long-standing partnership, but it is unlikely to have a significant short-term impact on Nike's stock price.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Dyal HomeCourt Partners, a unit of Blue Owl Capital (NYSE:OWL), is investing in the Charlotte Hornets as part of the deal for Michael Jordan's majority stake.
The investment by Dyal HomeCourt Partners, a unit of Blue Owl Capital, in the Charlotte Hornets is directly related to the company's business operations and financial performance. This deal expands the company's portfolio of NBA team ownership stakes, which could positively impact Blue Owl's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80