Thursday, May 7, 2026

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. 

This field is for validation purposes and should be left unchanged.

Sign up for
The Memo Newsletter

Get the biggest stories and best analysis on the business of sports delivered to your inbox twice every weekday and twice on weekends.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Mar 7, 2026; Milwaukee, Wisconsin, USA; Milwaukee Bucks forward Giannis Antetokounmpo (34) bring the ball up court against the Utah Jazz at Fiserv Forum. Mandatory Credit: Michael McLoone-Imagn Images

Jimmy Haslam Wants Giannis’s Fate Decided Before NBA Draft

The 2-time MVP is entering the final year of his contract.
May 2, 2026; Boston, Massachusetts, USA; Philadelphia 76ers guard Tyrese Maxey (0) drives past Boston Celtics guard Jaylen Brown (7) during the first quarter of game seven of the first round of the 2026 NBA Playoffs at TD Garden.

First Round of NBA Playoffs Reaches 33-Year Viewership High

Game 7 of the 76ers-Celtics series averaged 11 million viewers.
Dave Checketts

Former Knicks Pres: Leagues, Sportsbooks Have Gotten Too Cozy

“I’m not sure that’s a good thing, this coziness that we’ve established.”

Featured Today

May 2, 2026; Atlanta, Georgia, USA; Atlanta United midfielder Saba Lobjanidze (11) reacts to his goal against the CF Montréal in the first half at Mercedes-Benz Stadium. Mandatory Credit

How Atlanta Unexpectedly Became the Epicenter of U.S. Soccer

U.S. Soccer is opening a new national HQ in Georgia.
Tottenham Hotspur
May 6, 2026

Tottenham Hotspur Is Facing a Billion-Dollar Disaster

A seemingly improbable drop to England’s second tier is a tangible possibility.
Cricket - Indian Premier League - IPL - Final - Royal Challengers Bengaluru v Punjab Kings - Narendra Modi Stadium, Ahmedabad, India - June 4, 2025 Royal Challengers Bengaluru's Rajat Patidar lifts the trophy as he celebrates with teammates after winning the Indian Premier League
May 5, 2026

How Private Equity Fell in Love With Indian Cricket

India’s U.S.-style cricket league has become a private-equity playground.
Kaitlin Oaks (left) from Tampa looks at photos with Layla Abutha from Tampa while attending Thurby at Churchill Downs during the week of Kentucky Derby on Thursday, April 30, 2026.
May 1, 2026

Kentucky Derby Is Courting Gen Z

Churchill Downs is mixing traditional splendor with a youthful atmosphere.
Cleveland Browns players Denzel Ward and Carson Schwesinger, left, join with others as they take part in the ceremonial groundbreaking for the new Huntington Bank Field in Brook Park, Ohio on April 30, 2026.

Browns Break Ground on New Stadium, but Funding Still in Limbo

State and local funding for the planned venue is not yet solidified.
April 21, 2026

Illinois Lawmakers Race to Advance $5B Bears Stadium Plan

State legislators race against the clock as a stadium decision nears.
April 22, 2026

Royals’ New $3B Stadium Lands Downtown, but Not Where Expected

The MLB club strikes a large-scale development deal with Hallmark Cards.
Sponsored

What Is It Like to Run the Knicks?

Dave Checketts on his time running the Knicks & Jazz, Jordan war stories, and his investment strategy across major sports leagues.
Apr 4, 2026; Kansas City, Missouri, USA; Kansas City Royals center fielder Lane Thomas (15) celebrates in the dugout after scoring during the seventh inning against the Milwaukee Brewers at Kauffman Stadium.
April 17, 2026

Kansas City Okays $600M for New Royals Stadium

The MLB club must still complete the rest of its stadium financing plan.
Apr 10, 2026; Kansas City, Missouri, USA; Kansas City Royals shortstop Bobby Witt Jr. (7) throws to first base during the seventh inning against the Chicago White Sox at Kauffman Stadium.
April 14, 2026

Royals One Step Closer to New Kansas City Stadium

The MLB club receives support from two key votes.
April 6, 2026

Chicago Mayor Pushes for Rejected Downtown Bears Stadium Site

Despite the team’s focus on suburban options, city leaders continue their efforts.
April 6, 2026

Rays Return to Rebuilt Tropicana Field, but Bigger Questions Remain

As the club’s current ballpark is restored, new stadium plans are developing.