CHARLOTTE, N.C. — Hornets owner Michael Jordan announced Saturday that Gabe Plotkin and Daniel Sundheim will join Hornets Sports & Entertainment as investors. Jordan is selling a piece of the franchise to the two, but will remain the majority owner. 

The transaction is subject to NBA approval.

Plotkin is the founder and chief investment officer of Melvin Capital and Sundheim is the founder and chief investment officer of D1 Capital.

“I’m excited to welcome Gabe and Dan as my partners in Hornets Sports & Entertainment,” Michael Jordan said in a statement. “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."