The Charlotte Hornets have a new ownership after Michael Jordan sold the team to Gabe Plotkin and Rick Schnall for approximately $3 billion. This sale price is now viewed as reasonable compared to the team's current valuation of $3.39 billion, as reported by Sportico.

Despite the sale, the Hornets rank 27th among NBA teams in value and have struggled significantly, failing to make the playoffs since 2016. Their performance and market size contribute to their low ranking, but the new owners hope to improve the situation.