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Bruno
12-06-2010, 03:11 AM
Sorry if this has already been posted, I'm not seeing it anywhere.

http://www.huffingtonpost.com/2010/12/05/nba-buying-new-orleans-hornets_n_792306.html

NEW ORLEANS New Orleans Hornets owner George Shinn has agreed to sell the club to the NBA and the transaction could be completed within a couple days, according to a person familiar with the decision.

The league has lined up New Orleans-born sports attorney Jac Sperling, vice chairman of the NHL's Minnesota Wild, to be the NBA's administrator of the team and oversee its sale to a more permanent owner, the person told The Associated Press on Sunday on condition of anonymity because the move hasn't been publicly announced.

Current Hornets President Hugh Weber will continue overseeing day-to-day operations of what will be the first NBA team to be owned by the league, the person said.

NBA spokesman Tim Frank Sunday declined to comment on the sale.

Shinn has been in negotiations to sell the team to minority owner and Louisiana native Gary Chouest since last spring, but talks have been stalled for months.

Chouest, who owns 35 percent of the team, runs a business that supplies vessels to the gulf oil industry. Recently, he has become concerned about his ability to run his family business while taking over the Hornets, said the person who confirmed the NBA's planned purchase of the club.

It remained unclear on Sunday night if Chouest would keep his stake in the club if the NBA took over, or if he could be lured back to the table once the team is in the NBA's hands.

Chouest has not responded to repeated calls to his office and e-mails requesting comment on the matter since he first entered negotiations to buy Shinn's majority shares of the team.

Attendance for Hornets games has been lower than the club hoped, despite a 13-7 record. Through 10 home games, average attendance has been 13,865.


If it doesn't pick up, the Hornets could have the right to break their lease at the New Orleans Arena after this season. The lease runs through 2014, but the team is allowed to break it if average attendance falls below 14,735 during a two-year period.

The club would have to notify the state of any intent to end the lease by March 31, 2011. However, the person who spoke to The AP about the sale said the league wants the Hornets to remain in New Orleans.

First-year Hornets coach Monty Williams said before Sunday night's Hornets game at San Antonio that he talked to players about the potential sale, but insisted it wouldn't be a distraction during what has been one of the better starts in franchise history.

Williams said he did not know the details of the planned sale and added that he did not want to know.

"I've heard speculation since I've been in New Orleans," Williams said. "It's not news to me."

After the game, 109-84 loss that marked the Hornets' sixth setback in eight games, forward David West called the team's ownership situation "a mess."

"During the summer we felt it was going one way, and I guess things started changing," West said. "Who knows, it'll be an experience, I would imagine, for us, the coaching staff and all parties involved."

Hornets star guard Chris Paul said he didn't want to allow ownership matters to become a distraction.

"I'm trying to figure out how we got beat so bad right now by the Spurs," Paul said. "I control what I can control. That's how our team plays."

The Hornets have been based in the Big Easy since Shinn, the club's founder, moved them from Charlotte in 2002. However, the team played most of its home games in Oklahoma City for two seasons from 2005-07 because of Hurricane Katrina.

The 69-year-old Shinn was diagnosed last year with prostate cancer, which he said has been treated successfully. He decided after that experience that he wanted to move on from NBA ownership and instead focus on his faith and on charitable efforts to promote the fight against cancer.




Thoughts on the NBA owning a franchise?

Evolution23
12-06-2010, 03:22 AM
just plain weird!

ChI_ShIzzLe
12-06-2010, 03:36 AM
Theres reports Chicago is in the mix along with KC and Anaheim if they ultimately have to relocate.

Nicolasvon
12-06-2010, 03:37 AM
Say Hello to your Las Vegas Hornets!

Nicolasvon
12-06-2010, 03:38 AM
I can't see Chicago having two NBA teams. It doesn't work to me.

ChI_ShIzzLe
12-06-2010, 03:42 AM
I can't see Chicago having two NBA teams. It doesn't work to me.

Would only work if they build another arena because you can't have the Bulls, Blackhawks, and the Hornets playing in one place. And you can't really build an arena when the attendance numbers will be so uncertain because it would basically be the same fan base.

ChI_ShIzzLe
12-06-2010, 03:49 AM
Nvm..I forgot about Allstate Arena which is only occupied by the AHL's Chicago Wolves. Its a big arena and its in a very convenient location for fans commuting from the city and suburbs.

SluggeR
12-06-2010, 04:01 AM
If the league takes over the team, I wonder how that affects CP3; if he still decides he wants out (again).

Nwsports22
12-06-2010, 02:44 PM
Theres no where online that says they could end up in Chicago.


However, the story said the league will place priority on the strength of prospective ownership, and not simply on keeping the NBA in Louisiana.

The story cited an unnamed source who said Seattle, Kansas City and Anaheim are potential markets if the team moves.
http://blog.seattlepi.com/seattlesports/archives/230692.asp?source=mypi

I dont see why there needs to be a team in Anaheim. If you want a team there just move the Clippers.

X12Celtics3
12-06-2010, 02:50 PM
Seattle should have an NBA team.

macc
12-06-2010, 03:03 PM
Has the NBA ever bought a team before?

Klivlend
12-06-2010, 03:03 PM
Seattle should have an NBA team.

+1! Hell ya we should! I'd love to have CP3 in the 206!

GoatMilk
12-06-2010, 03:31 PM
Would only work if they build another arena because you can't have the Bulls, Blackhawks, and the Hornets playing in one place. And you can't really build an arena when the attendance numbers will be so uncertain because it would basically be the same fan base.

i think it could work
the lakers, clippers and kings all play in the same arena


but i think they need to go somewhere with a totally new fan base. like the sonics did with OKC

would be hard moving to Chicago. already an established team. hard for people to just start rooting for another team

i dont even think Anaheim would work because the lakers have a following there

NYKalltheway
12-06-2010, 03:51 PM
Seattle...

I can't imagine twice as many Chicago fans on PSD :D

Lo Porto
12-06-2010, 04:01 PM
The NBA is buying this team to make sure that it doesn't leave New Orleans. And I wonder how this sale will impact the ongoing labor negotiations. That could be an interesting development.

NateyB24
12-06-2010, 04:49 PM
The NBA is buying this team to make sure that it doesn't leave New Orleans. And I wonder how this sale will impact the ongoing labor negotiations. That could be an interesting development.

You must not know Stern if you think that he won't backstab anybody anyway he can trust me it happened with the Sonics and he has mentioned recently that he would liquidate teams and i wouldn't put it past him.

He claims he wants to keep the Hornets in New Orleans but if he can make money elsewere the team is as good as gone and he won't step in and help.

asandhu23
12-06-2010, 05:22 PM
Dime Mag's twitter says its official.

http://twitter.com/DimeMag

but then.... who knows

Mplsman
12-06-2010, 05:27 PM
This is bizarre.

nolafan33
12-06-2010, 05:33 PM
Everything I've heard points toward this being good for New Orleans. Stern wants the NBA in New Orleans.

Either way, it's irrelevant if the bench mark is met, and I would be shocked if it wasn't.

nolafan33
12-06-2010, 05:58 PM
Conference call:
http://www.nba.com/live1/

Nwsports22
12-06-2010, 06:08 PM
Conference call:
http://www.nba.com/live1/

Everything that comes out of Sterns mouth sounds like a lie.

zB_#85
12-06-2010, 06:13 PM
go to KC!!!

asandhu23
12-06-2010, 06:17 PM
Everything that comes out of Sterns mouth sounds like a lie.

indeed.

ShakeN'Bake
12-06-2010, 06:43 PM
This is not going to look good to all those who believe the NBA is fixed.

nolafan33
12-06-2010, 07:57 PM
Here's a post from a guy with very good knowledge of the situation, though you guys would find it interesting:


The NBA will bridge this team to Chouest or another local owner.

Shinn had to be removed from the equation in order to clear the path for a new owner. A sale from Shinn directly to the next owner became impossible for a number of reasons (personal and financial).

Under the NBA's umbrella and through the ongoing efforts of Hugh Weber, a new lease will be negotiated, the TV situation will be worked out and the organization will be turned over (sold) to Chouest (or whoever) in the healthiest status it has ever been. No debts, long term business deals that make sense, etc.

David Stern was behind the Hornets' return to New Orleans after Katrina. Stern also was instrumental in getting New Orelans an All Star Game. Failure in New Orleans isn't an option for him. It's in his and the league's best interest to be successful in New Orleans. This isn't Seattle! We are a cooperative market with a big league arena. When this is done, Stern's message to other cities will be well documented. Work against me and you end up like Seattle. Work with me and we help you...like we did in New Orleans.

There is a lot more to this, but this is the nuts and bolts. While I still think the eventual owner will be Chouest, I'm not saying that can't change. There are others in our region who are interested in this team, but haven't stepped forward because it's been an understood that Gary would be the next owner. The door is now open for them too.

The story that Shinn could have sold to a different ownership group who would have wanted to move the team is very real. Why he didn't might be debated, but the end result is the league purchased the team and squashed those scenarios...with the full intention of bridging a buy to a local owner who will keep the team in New Orleans.

Shoot all the holes in my theories that you like. Media from around the nation or world can continue to write us off...but I'm sticking to my guns...again...and again...when this is over...we'll see who is dialed in and who isn't.

As I have said in the past couple of days, watch the lease. When that deal is done, that will be an indicator that things are headed toward a successful resolution.

NateyB24
12-06-2010, 08:07 PM
Everything that comes out of Sterns mouth sounds like a lie.

Yep everything he says is a lie hes all about the $$ he doesn't care about the teams and if there in trouble. Although he might help New Orleans just to save face although i don't think he would turn down a better offer if you ask me.

|x-M1NTy-x|
12-06-2010, 08:37 PM
so they wouldn't trade players? offers would have to go to them right?

BIGBREED
12-06-2010, 09:30 PM
Before the NBA/ Commissioner David Stern brought the New Orleans Hornets, they spoke to the Governor of Louisiana- Bobby Jindal, the Mayor of New Orleans- Mitch Landrieu, and The New Orleans Hornets management team which included(Gary Chouest, Hugh Weber, Dell Demps, and Monte Williams) to make sure that they were on board with the ultimate goal of keeping the Hornets in Louisiana and "Interimly" the NBA is stepping in to puchase the New Orleans Hornets to allow the Hornets to continually be able to function "financially" thru this transition of ownership. {No owner, means NO money}
Stern said that he wants the Hornets to have every opportunity to be succesful in bringing a NBA Championship here in New Orleans. Stern also said that if he was not truly confident in this plan working with this Hornets front office, he would not have signed up to do this(buying the Hornets interimly).

REMEMBER:
-GARY CHOUEST CAN COME BACK TO THE TABLE ONCE THE NBA HAS CONTROL
^^^^ {per Bobby Herbert, a very close friend and bayou homeboy to Gary Chouest} ^^^^


-BASICALLY-
-the Hornets were purchased by the NBA to help "fund" them thru the transition of ownership. George Shinn wants more money(more than the Hornets value) from Gary Chouest to purchase the Hornets, which caused Chouest to back out of the deal. {No owner, No money!}


[BOOM]

mzgrizz
12-06-2010, 09:37 PM
I wonder if they'll get more ref calls????

ragee
12-06-2010, 10:06 PM
Isn't that a conflict of interest?

NateyB24
12-06-2010, 11:03 PM
Before the NBA/ Commissioner David Stern brought the New Orleans Hornets, they spoke to the Governor of Louisiana- Bobby Jindal, the Mayor of New Orleans- Mitch Landrieu, and The New Orleans Hornets management team which included(Gary Chouest, Hugh Weber, Dell Demps, and Monte Williams) to make sure that they were on board with the ultimate goal of keeping the Hornets in Louisiana and "Interimly" the NBA is stepping in to puchase the New Orleans Hornets to allow the Hornets to continually be able to function "financially" thru this transition of ownership. {No owner, means NO money}
Stern said that he wants the Hornets to have every opportunity to be succesful in bringing a NBA Championship here in New Orleans. Stern also said that if he was not truly confident in this plan working with this Hornets front office, he would not have signed up to do this(buying the Hornets interimly).

REMEMBER:
-GARY CHOUEST CAN COME BACK TO THE TABLE ONCE THE NBA HAS CONTROL
^^^^ {per Bobby Herbert, a very close friend and bayou homeboy to Gary Chouest} ^^^^


-BASICALLY-
-the Hornets were purchased by the NBA to help "fund" them thru the transition of ownership. George Shinn wants more money(more than the Hornets value) from Gary Chouest to purchase the Hornets, which caused Chouest to back out of the deal. {No owner, No money!}


[BOOM]

That article is dumb if it thinks Stern won't sell the team to a owner wanting to move the team if the guy who wants to buy it comes in with a Wheel barrel full of cash. Stern is a liar i wouldn't take anything he says at word EVER. :laugh:

By the way i hope the Hornets stay in New Orleans i don't want to see another team uprooted but i would never ever trust Stern ever.

0nekhmer
12-06-2010, 11:28 PM
Toronto Raptors has one of the largest fan bases in the NBA win or lose. bring Hornets to Vancouver or montreal! they're crazy for basketball

ccg34
12-06-2010, 11:35 PM
Bring them to Seattle.http://www.youtube.com/watch?v=vWgQH_T2SvY&feature=related

jimbobjarree
12-07-2010, 12:00 AM
if the NBA and Stern own them, I doubt they'd be heading to Seattle

Nicolasvon
12-07-2010, 12:00 AM
Toronto Raptors has one of the largest fan bases in the NBA win or lose. bring Hornets to Vancouver or montreal! they're crazy for basketball

Why didn't the Griz work out?

Storch
12-07-2010, 12:29 AM
vegas needs an NBA team

MattColby
12-07-2010, 12:31 AM
Please, please, please send them to Seattle.

MattColby
12-07-2010, 12:33 AM
We lost Kevin Durant. We deserve a team.

ccg34
12-07-2010, 01:29 AM
vegas needs an NBA team

Seattle first then Vegas. CP3 the next GP??

NateyB24
12-07-2010, 01:38 AM
if the NBA and Stern own them, I doubt they'd be heading to Seattle

Agreed. Stern doesn't want us to get an NBA team he would probaly use the lame excuse that we don't have enough fan support when we did LOL. We also got screwed by our own state they wouldn't poney up to build a new arena. Its ok though i don't want Basketball back in Seattle Stern is corrupt i hope his product fails and i hope he falls with it so it gets a competent commish.

Oh and if he ever brought a NBA game to Seattle i hope it gets boycotted we don't want to see your stupid product Stern after you screwed us.