Rick Schnall

Rick Schnall
Born1969 or 1970 (age 54–55)[1]
EducationB.A. University of Pennsylvania
M.B.A. Harvard Business School
Known forCo-President of Clayton, Dubilier & Rice
Minority owner of the Atlanta Hawks
majority owner of the Charlotte Hornets
RelativesCarl Icahn (uncle)
Basketball career
Charlotte Hornets
PositionMajority Owner, Co-Chairman
LeagueNBA

Rick Schnall (born 1969/1970) is an American businessman, co-president of private equity firm Clayton, Dubilier & Rice, minority owner of the Atlanta Hawks, and among the majority owners of the Charlotte Hornets.[1]

Biography

Schnall is a graduate of the University of Pennsylvania and the Harvard Business School.[1] After school, he worked for Smith Barney and Donaldson Lufkin & Jenrette.[1] In 1996, he joined Clayton, Dubilier & Rice eventually reaching partner[1] where he started and oversees the healthcare, tech and financial services verticals.[2]

Atlanta Hawks

In 2015, Schnall was part of a group led by Tony Ressler along with Grant Hill, Sarah Blakely, Jesse Itzler, and Steven Price, that successfully purchased the Atlanta Hawks for $850 million.[3][4][5] He was selling his stake in the Hawks as of July 2023.[6]

Charlotte Hornets

In June 2023, Schnall along with Gabe Plotkin successfully purchased the Charlotte Hornets from majority owner, Michael Jordan.[7]

Personal life

Schnall is of Jewish descent[8] and lives in New York City.[9] He is the nephew of billionaire investor Carl Icahn.[10]

References

  1. ^ a b c d e Tucker, Tim (June 27, 2015). "Meet the Hawks' new owners". Ledger Enquirer. Schnall, 45, is a partner with private equity firm Clayton Dubilier & Rice....
  2. ^ "Richard J Schnall "Rick" Co-President/Partner, Clayton Dubilier & Rice LLC". Bloomberg. 22 March 2023.
  3. ^ "NBA unanimously approves sale of Atlanta Hawks" (Press release). National Basketball Association. June 24, 2015. Retrieved June 24, 2015.
  4. ^ "Hawks finalizing sale with billionaire Antony Ressler". The Atlanta Journal-Constitution. Retrieved 23 April 2015.
  5. ^ NBA: "Group Led By Tony Ressler Completes Purchase of Atlanta Hawks" June 25, 2015 | "Other investors include seven-time NBA All-Star Grant Hill, who will serve as Vice Chair of the Board, Townsquare Media Chair and CEO Steven Price, Clayton, Dubilier & Rice partner Rick Schnall, and Spanx founder Sara Blakely and Marquis Jet co-founder Jesse Itzler, who are married"
  6. ^ "Who are the new Hornets owners? Gabe Plotkin and Rick Schnall set to purchase team from Michael Jordan".
  7. ^ Moore, Evan (June 16, 2023). "Who are Gabe Plotkin and Rick Schnall? Meet the new Charlotte Hornets owners". The Charlotte Observer.
  8. ^ Cohen, David R. (April 29, 2015). "Jewish Investor Buying Hawks". Atlanta Jewish Times. At least two of his Hawks partners, Itzler and Rick Schnall, are Jewish.
  9. ^ "Who is Rick Schnall? Looking at a probable part owner of Charlotte Hornets". Sportskeeda.
  10. ^ McDonald, Lawrence G. (October 12, 2010). A Colossal Failure of Common Sense: The Inside Story of the Collapse of Lehman Brothers. Crown Publishing Group. p. 26. ISBN 9780307588340.