Jordan sold part of the wasp equity to two investors
Beijing time September 15, “Charlotte Observer” reporter Rick Bonnell reported that the Hornets owner Michael Jordan has reached an agreement with two investors from New York, Jordan will sell part of the team’s equity, but he will retain control of the team.
The two investors are Gabb Lotkin and Daniel Sandheim, the former is the founder of Melvin Capital and the latter is the founder of DI Capital. They had to get the coalition’s approval, but sources told Rick Bonnell that the deal was in progress and was expected to be completed in two weeks.
Lotkin and Sandheim’s share ratio and purchase price were not disclosed. Jordan currently owns about 97% of the team. Another source revealed that he planned to run the team “for a long time”.