View Full Version : Hornets Close To Deal With New Owner And Arena Lease Stern Says

02-22-2012, 01:58 PM
(SB Nation, Mike Prada) The Hornets may soon be sold to a new buyer that would keep the team in New Orleans for the foreseeable future, NBA commissioner David Stern said in an interview with NBA.com's David Aldridge. Stern said the league is "very close" with one potential buyer and expects the deal and the new lease in New Orleans to be completed around March 1.

"We're moving on dual tracks on a buyer, and with the state's contribution under a new lease that will likely be complete, both of those, by March 1 or on or about March 1. The deal itself can't close until the legislature confirms the role of the state, and the legislature convenes in March," Stern said.

Stern said that the state of Louisiana will contribute to the lease, and there will not be an out clause in it. He did not mention the name of the potential buyer, only saying that one was "in the lead" and a second possibility was "awaiting future events."

Stern also said that he had no regrets about the NBA purchasing the team from former owner George Shinn.

"I think we had a city that had stood by us and we by it, a state that supported us, and we it. We had an owner at the beginning of the season who really was tired and without resources to continue. We stepped in rather than make it into a free-for-all. We wanted to do it in an orderly fashion, and I think we did,"

Yay Hornets fans!
(waits for the posts bashing Stern)

02-22-2012, 02:00 PM
**** Stern

02-22-2012, 02:02 PM
what a waste of a team

02-22-2012, 02:08 PM
Hopefully this process finishes quickly. I have no complaints about how the NBA handled the Hornets ownership issues but it still sucks that it ever got to this point.

The new revenue sharing program should alleviate many of the problems small market owners faced so we see fewer of these financially distressed teams with questionable futures.

02-22-2012, 02:09 PM
**** Stern
God I missed you <3

what a waste of a team

That "waste of a team" had an almost identical franchise win% to the heat before the start of the season.

02-22-2012, 02:13 PM
Looks like everything I've been saying has been true.

02-22-2012, 02:27 PM
whoever it is I hope they are getting the team for dirt cheap. Only reason it would make sense.

02-22-2012, 02:48 PM
We need the Hornets to move to Seattle

02-22-2012, 02:50 PM
who's the lucky new owner?

02-22-2012, 02:58 PM
Either Tom Benson, Gary Chouest, or the less likely Mike Dunleavy group.

02-22-2012, 03:11 PM
Stern is a ****

02-22-2012, 06:53 PM
We need the Hornets to move to Seattle

Hopefully Stern wasn't just using us for leverage i have a feeling thats what happened because right when Hansen shows he is serious everyone else started moving things quickly.