• Loading stock data...
Sunday, June 1, 2025

Hornets Prepared to Pay Beyond City’s $30M for New Practice Facility

  • New ownership continues to spend money less than a year after buying the team from Michael Jordan.
  • Practice facility and arena renovations are supposed to be completed by 2026.
Charlotte Hornets
Jim Dedmon-USA TODAY Sports

The Hornets’ post–Michael Jordan era continues to bear fruit. 

In a determination to get a new downtown practice facility under new owners Gabe Plotkin and Rick Schnall, the Hornets said they are “fully committed” to the new building above the $30 million provided by the city in a new proposal. 

The proposal is part of a $275 million plan the Charlotte City Council approved in 2022 to help renovate the Spectrum Center and build a new practice facility. In January the Hornets unveiled renderings for Spectrum Center improvements, including adding 2,500 seats to the arena’s lower bowl and renovations to concessions, suites, lighting, and signage, among other focuses. 

Despite his greatness on the basketball court, Jordan was both unsuccessful and perhaps frugal as an owner. Plotkin and Schnall, who bought the team from His Airness in August, have wasted no time trying to spend money and strip the roster. The team acquired more draft assets early this month at the NBA trade deadline. Recently the franchise asked the city council, which first approved the proposal in 2022, to redirect half of the $60 million for the practice facility to arena renovations. The city council is expected to vote on the measure in March. 

The $275 million plan helped keep the Hornets in the city through 2045. The practice facility is expected to be near the Spectrum Center in downtown Charlotte, and both the renovations and practice center are expected to be complete by ’26. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

breaking

Pacers-Thunder Is Lowest-Payroll NBA Finals in Years

Neither team is in the luxury tax, despite rosters with multiple All-Stars.
exclusive

Newly American-Owned Italian Hoops Team Hires Ex-Pelicans Exec as GM

Napoli Basketball is hiring the Pelicans’ former chief of staff as GM.

Featured Today

PSG and the City of Paris Can Join European Soccer’s Elite

What a maiden Champions League title would mean for the French club.
May 30, 2025

How the Champions League Anthem Took on a Life of Its Own

The composer didn’t know he wrote a timeless hit three decades ago.
May 25, 2025

How Rolex Paved the Way for Luxury’s Love Affair With Tennis

“It’s almost impossible to think about tennis without thinking about Rolex.”
Mar 23, 2025; Miami, FL, USA; Alexandra Eala (PHI) reacts after winning a point against Madison Keys (USA)(not pictured) on day six of the Miami Open at Hard Rock Stadium.
May 24, 2025

Alex Eala Is Defying Her Country’s Odds to Make French Open History

The Philippines native has overcome a unique set of financial odds.

Chiefs, Royals Stadium Plans Hit Political Wall As Both Parties Say No

Both Republicans and Democrats in Missouri oppose public funding for stadiums.
U.S. Women's Golf
May 27, 2025

U.S Women’s Open Will Play on Courses Once Reserved for Men

Erin Hills Golf Course in Wisconsin is hosting this week’s tournament.
Feb 14, 2024; Kansas City, MO, USA; A general view of the Kansas City Royals 1985 and 2015 World Series championships on the scoreboard at Kauffman Stadium at the Truman Sports Complex.
May 28, 2025

Chiefs, Royals Stadium Public Funding Standoff Nears Endgame

Missouri legislators will review stadium bonds for the Chiefs and Royals.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

In Episode 7 of Portfolio Players, go inside the boardroom with Avenue Capital CEO and former Milwaukee Bucks co-owner Marc Lasry on Giannis’s future, women’s sports, and upstart leagues like TGL and Unrivaled. 
Gillette
May 21, 2025

Boston NWSL Team to Play at Gillette After Legal Fight Delayed Own..

The team beat a lawsuit from locals against their stadium in April.
Sep 25, 2022; Chicago, Illinois, USA; A general view of Soldier Field before a game between the Chicago Bears and the Houston Texans. Chicago defeated Houston 23-20.
May 19, 2025

Bears Pivot to Suburbs As $4.7B Downtown Stadium Plans Dim

The NFL team has reversed course on its lavish plans.
May 18, 2025

Final Preakness Stakes at ‘Pimlico As We Know It’ Delivers High Drama

The Baltimore horse racing track is set for a $400 million renovation.
Shai Gilgeous-Alexander
May 16, 2025

Public Funding for Arenas Is Failing Everywhere—Except Oklahoma City

Voters chose to fund $850 million for a new Thunder arena.