JOURNAL ARTICLE

Atlanta Hawks Co-Owner Schnall Sold Stake Before Charlotte Hornets Takeover.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Tan, Gillian; Williams, Randall 3 of 3

Abstract

Rick Schnall, co-president of private equity firm Clayton Dubilier & Rice, sold his minority stake in the Atlanta Hawks last summer in order to purchase a stake in the Charlotte Hornets. The sale was made to a group of investors, including some existing Hawks owners. Schnall, along with Gabe Plotkin, was part of the consortium that acquired a controlling stake in the Hornets. The deal was announced in June and finalized in August, increasing Michael Jordan's net worth to an estimated $3.5 billion. Schnall and Plotkin became co-chairs of Hornets Sports & Entertainment and will rotate governorship every five years. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/03, pN.PAG
  • Document Type:Article
  • Subject Area:Sports and Leisure
  • Publication Date:2024
  • Accession Number:175958881
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