Last Updated on June 16, 2026 by Mat Diekhake
The Charlotte Hornets franchise has experienced several ownership changes since joining the NBA as an expansion team in 1988. From its original ownership group to the era of Michael Jordan and the current leadership, each owner has played a role in shaping the team’s direction.
George Shinn (1988–2002)
George Shinn was the founding owner of the Charlotte Hornets when the franchise entered the NBA in 1988. Under his ownership, the Hornets quickly became one of the league’s most popular expansion teams, known for strong fan support and several playoff appearances. However, declining relations with local officials and arena issues ultimately led to the franchise relocating.
George Shinn and Ray Wooldridge (2002–2010)
When the original Hornets moved to New Orleans in 2002, Shinn remained the principal owner, joined by Ray Wooldridge as a significant partner. During this period, the franchise operated as the New Orleans Hornets before eventually being sold.
NBA Ownership (2010–2012)
The NBA purchased the New Orleans Hornets in 2010 after financial difficulties made it difficult to find a private buyer. The league temporarily operated the franchise until a new ownership group was secured.
Tom Benson (2012–2023)
Tom Benson, owner of the NFL’s New Orleans Saints, purchased the New Orleans Hornets in 2012. In 2013, the franchise was renamed the New Orleans Pelicans, permanently separating it from Charlotte’s basketball identity.
Robert L. Johnson (2004–2010)
Meanwhile, Charlotte returned to the NBA in 2004 with the expansion Charlotte Bobcats. Media entrepreneur Robert L. Johnson became the franchise’s founding owner, making him the first majority Black owner of a major North American professional sports team. He guided the organization through its early years before selling control of the club.
Michael Jordan (2010–2023)
Michael Jordan acquired a majority stake in the Bobcats in 2010 and became the franchise’s principal owner. In 2014, the team reclaimed the Hornets name after New Orleans adopted the Pelicans identity. Jordan’s tenure included multiple playoff appearances and significant growth in the franchise’s value and profile.
Rick Schnall and Gabe Plotkin (2023–Present)
In 2023, Michael Jordan sold his majority stake to a group led by Rick Schnall and Gabe Plotkin. The pair became the Hornets’ co-chairmen and principal owners, ushering in a new era focused on long-term team building and organizational development.
Conclusion
The Charlotte Hornets’ ownership history is unique because it involves both the original Hornets franchise and the expansion team that became today’s Hornets. Key ownership eras include George Shinn, Robert L. Johnson, Michael Jordan, and the current ownership group led by Rick Schnall and Gabe Plotkin.