Here is all you need to know about who is Rick Schnall, the potential Charlotte Hornets co-owner to buy the franchise from Michael Jordan and his net worth
It is predicted that Michael Jordan, a Chicago Bulls star and arguably the greatest player of all time, will sell the majority of his own in the Charlotte Hornets.
He will sell the team to the ownership group led by Rick Schnall and Gabe Plotkin.
According to Adrian Wojnarowski of ESPN, the following is what the deal said:
No deal is imminent, but there’s significant momentum on a sale that would eventually install Plotkin and Schnall as the co-governors of the Hornets, sources said. If the sale is completed, Jordan would be expected to keep a minority stake in the team.”
Who is Rick Schnall, net worth in 2023, family, age, education and career
Who is Rick Schnall?
ESPN Sources: Charlotte Hornets owner Michael Jordan is engaged in serious talks to sell a majority stake in the franchise to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall. pic.twitter.com/jg03W25s49
— Adrian Wojnarowski (@wojespn) March 16, 2023
Rick Schnall and Gabriel Plotkin are anticipated to take over soon, even if the arrangement hasn’t been finalised yet.
In the $526 million investment company Clayton, Dubilier & Rice, Rick Schnall is a partner. The business represents numerous industries. Based in New York and London, CD&R’s investment professionals include people who have skills financing businesses and managing companies.
A member of the executive and investment committees, he has worked for Clayton, Dubilier & Rice for 27 years. He is in charge of the organization’s financial services and technology departments, according to the firm’s official website.
Before joining Dubilier & Rice, Rick Schnall had worked for Smith Barney & Co. and Donaldson, Lufkin & Jenrette.
Schnall was born in 1970. His undergraduate studies were completed at the University of Pennsylvania, and he received his MBA at Harvard Business School.
Born to a Jewish family, Schnall is a graduate of the University of Pennsylvania and the Harvard Business School and fter school, he worked for Smith Barney and Donaldson Lufkin & Jenrette. In 1996, he joined Clayton Dubilier & Rice eventually reaching partner where was responsible for the acquisition and sales. His uncle is named Carl Icahn.
Schnall was a part of the 2015 buying group that shelled out $850 million for the Atlanta Hawks. The ensemble includes Steven Price, Grant Hill, Sarah Blakely, Jesse Itzler, and Tony Ressler.
Schnall is a New York inhabitant. He will be in charge of the Hornets while they work to find a solution. They’re hoping for a quick turnaround because the previous few seasons have been disappointing.
The Hornets’ ownership will be split between Plotkin and Schnall, and they are both putting forth a lot of effort to make this happen. If this goes through, Jordan will receive a little over $1.5 billion, and the new owners will take on the rebuilding of the team.
ESPN Sources: Charlotte Hornets owner Michael Jordan is engaged in serious talks to sell a majority stake in the franchise to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall. pic.twitter.com/jg03W25s49
— Adrian Wojnarowski (@wojespn) March 16, 2023