Charlotte Hornets

About

Valued at $3.5B with $260M in annual revenue, the franchise benefits from Charlotte's growing mid-market demographics and a modernized Spectrum Center (renovated 2019), though remains constrained by regional media rights exposure relative to top-tier NBA markets. Gabe Plotkin and Rick Schnall's 2023 acquisition represents a significant ownership transition aimed at stabilizing operations after Michael Jordan's era, with the new ownership group prioritizing roster competitiveness and venue optimization to drive valuation upside. The Hornets' competitive rebuild and undermonetized market position create asymmetric upside if on-court performance strengthens and media revenue renegotiations accompany the next NBA media rights cycle.