Basketball is a team sport, and Michael Jordan, the owner of the Charlotte Hornets, has added two wealthy owners to the team and it cost them a reported $3 billion.

Jordan recently announced that Gabe Plotkin, the Founder and Chief Investment Officer of Melvin Capital, and Daniel Sundheim, the Founder and Chief Investment Officer of D1 Capital, are set to join Charlotte Management, pending NBA approval. 

“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 franchise is invaluable, as we continue to modernize, add new technology, and strive to compete with the best in the NBA. 

Gabe and Dan are industry standard-setters and proven leaders, with a belief in philanthropy and a passion for basketball.”

Jordan added that “they share my commitment to Charlotte and the Carolinas, and I look forward to working with and learning from them.”

Jordan was “attracted to adding investors with deep resources who might offer new ideas regarding technology advances.â€

While the original version of the Hornets joined the NBA in 1988, that inaugural outfit eventually departed for New Orleans in 2002. This current edition of the team manifested as the expansion of the Charlotte Bobcats in 2004, under BET founder Bob Johnson, before re-branding in 2014.