Saturday, May 2, 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

Dundon Pours Money Into Pickleball As He Cuts Blazers Spending

NBA fans have nicknamed the Blazers owner “El Cheapo.”
exclusive

Mark Cuban Admits He Wanted to Buy Back Mavericks

“That’s just not the game anymore.”
Kalshi's logo is displayed on a smartphone placed on a reflective surface onto which a betting curve is projected in Creteil, France, on March 9, 2026, during a major scandal and a $54 million lawsuit concerning bets related to recent strikes in Iran. (Photo by Samuel Boivin/NurPhoto)NO USE FRANCE

CFTC: ‘Biggest Issue Is Manipulation’ in Sports Event Contracts

Michael Selig says his agency is in talks with “all the major sports leagues.”

Featured Today

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.

Kentucky Derby Is Courting Gen Z

Churchill Downs is mixing traditional splendor with a youthful atmosphere.
INDIANAPOLIS, INDIANA - MARCH 25: Caitlin Clark of the Indiana Fever sits on the baseline and makes photographs during the Indiana Pacers game against the Los Angeles Lakers at Gainbridge Fieldhouse on March 25, 2026 in Indianapolis, Indiana.
April 22, 2026

Why Athletes Are Moonlighting As Sports Photographers

Athletes are swapping courtside seats for sideline cameras.
Quinnipiac women's varsity rugby
April 21, 2026

The Death of Quinnipiac Women’s Varsity Rugby

The sudden decision at Ilona Maher’s alma mater left players blindsided.
April 17, 2026

The Lawyer Steering the NIL Era

In the new era of college sports, Darren Heitner is everywhere.
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

Why Brandon Marshall Bet on Athlete-Owned Media

Brandon Marshall on athlete media, life after football, building I AM ATHLETE.
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.