Charlotte Hornets

Charlotte Hornets is a professional basketball team that competes in the NBA. The team is based in Charlotte, North Carolina, and is a member of the Southeast Division in the Eastern Conference of the NBA. Between 2004-2014, the team was known as the Charlotte Bobcats. They play home matches at the Spectrum Center, in Uptown Charlotte. The Hornets have not won a championship yet, but they have a big fan base that has grown significantly in the last decade.

Charlotte Hornets Famous Players

Glen Rice

Glen Rice played in Charlotte from 1995 - 1999 and was an All-Star in all three seasons for the Hornets. In 240 games for the franchise, Rice averaged 23.5 points and 4.4 rebounds per game.

Larry Johnson

Larry "Grandmama" Johnson was the franchise’s first bona fide star. Picked first overall in the 1991 NBA Draft, Johnson quickly established himself as a fan favorite. Alongside Alonzo Mourning, he guided the Hornets to playoff berths in 1993 and 1995. Johnson gets the nod over Mourning primarily because he had a longer tenure with the Hornets. His name adorns the franchise leaderboard, standing second in rebounds, third in free throws made, and fourth in points.

Dell Curry

Dell Curry spent 10 years with the Charlotte Hornets and helped the team reach the playoffs four times. He was a great scorer and is still the franchise’s second-all-time scorer with 9,839 points. In minutes played, Curry is third on the franchise’s all-time list.

Kemba Walker

Kemba Walker is undoubtedly the greatest player for the Charlotte Hornets. In his eight-year Hornets career, Walker set numerous records. These include most points, field goals, and 3-pointers. Besides this, Walker also led the team to two playoffs. His best performance came on November 17, 2018, when he scored 60 points against the Philadelphia 76ers. This is the record for the most points in a single game by a Hornets player.

History

The Charlotte Hornets joined the NBA in 1988. The name "Hornets" was given to the franchise as a historical nod to Charlotte's rebellious past. During the American Revolution, Charlotte was symbolized as a 'hornet’s nest' of American rebels. "Honerts" name stuck a cord with Charlotte's citizens as they selected this name for their basketball team via a name-the-team contest.

It was the first time in 2004, that any African American (Robert L. Johnson) was the majority owner of any NBA franchise. However, the franchise struggled in their early years and finished at the bottom of their division for five years.

In 2006, a significant development unfolded as North Carolina native and basketball legend Michael Jordan became the minority owner and general manager of the Charlotte Hornets. His impact was soon felt as he hired Hall of Fame coach Larry Brown in 2008. In the very next season, the Charlotte Hornets reached the playoffs. However, the franchise again started struggling and they have not reached the postseason in recent years.

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Charlotte Hornets Team Roster

Head Coach

The Charlotte Hornets hired Charles Lee as their new head coach for a four-year deal in May 2024. Lee has spent the past 10 years as an NBA assistant coach - Boston Celtics 2023-24, Milwaukee Bucks (2018-2023), and Atlanta Hawks (2014-2018) under Mike Budenholzer.

Hornets executive vice president Jeff Peterson praised Lee’s character, work ethic, and championship experience, stating that his ability to connect with players and establish a culture of accountability will help build long-term success in Charlotte. Lee, 38, expressed excitement about leading the team, calling it a "dream come true" and pointing to the Hornets' talented young core, including LaMelo Ball and Brandon Miller.

Lee takes over a team that has struggled in recent years, finishing the 2023-24 NBA season with a 21-61 record and missing the playoffs for the seventh consecutive year. Injuries, particularly to star guard Ball, have hampered Charlotte’s progress. The Hornets are hoping Lee’s leadership will help them return to playoff contention and end a 22-year drought without a playoff series win.

Owner

On August 3, 2023, Gabe Plotkin and Rick Schnall took the reins of the Charlotte Hornets, acquiring the majority stake from NBA legend Michael Jordan. The acquisition marks a new chapter for a franchise that has faced struggles, missing the playoffs for the past seven seasons. Both Plotkin and Schnall come to the Hornets with fresh perspectives and a commitment to revitalizing the team. As majority owners, they aim to infuse new strategies and capitalize on opportunities to build a winning culture. Their ownership is seen as a potential turning point for the franchise, stirring excitement and anticipation among fans and stakeholders alike.

Net Worth

As of April 2024, the Charlotte Hornets are valued at $3 billion, according to Statista. This valuation came into the spotlight when NBA legend Michael Jordan sold his majority stake to Gabe Plotkin and Rick Schnall. The $3 billion price tag not only reflects the inherent value of an NBA team in today's market but also signifies the high expectations and potential that investors see in the Hornets' future.

Championships

The Charlotte Hornets have not won an NBA Championship, as of April 2024. As a basketball team that made its debut in the NBA in 1988, the Hornets are one of five NBA franchises that are yet to lift the Larry O'Brien championship trophy in June.