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J. Cole is officially a part-owner of the Charlotte Hornets. Cole is a member of the ownership group, led by Rick Schnall and Gabe Plotkin, that collaborated on the $3 billion price to acquire the team from former owner Michael Jordan.
Hitting Instagram, Cole’s manager Ibrahim “Ib” Hamad celebrated the official stamp the deal received from the league office.
“Official,” Ib wrote. “Congrats to my dawg @JColeNC.”
READ MORE: J. Cole’s References Making ‘The Fall Off’ in New Verse on Summer Walker’s EP
Recently, on his collaborative single “Passport Bros” with Bas, J. Cole rapped about his new status as team owner.
The news just dropped, I’m a partial owner
What can I say?
Tell Coach Cliff to suit me up and I’ll play, I’m winning– J. Cole on “Passport Bros”
Coach Cliff is a reference to Steve Clifford, who currently coaches the Charlotte Hornets.
According to ESPN‘s Adrian Wojnarowski, the NBA’s board of governors approved the sale this past Sunday. The vote was 29-1, with the only opposing vote being New York Knicks owner James Dolan. Schnall and Plotkin will be the governors of the franchise.
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