NBA Commissioner David Stern made it official today: the NBA will indeed move ahead with a purchase of the New Orleans Hornets from George Shinn and Gary Chouest, giving the league power over where the team ends up. No word on what the NBA is paying (though Stern did say the franchise is worth $300 […]
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NBA close to buying Hornets
In an unprecedented move, the National Basketball Association is close to buying the New Orleans Hornets in an attempt to keep the team afloat after a sale of the team to Gary Chouest fell through. George Shinn wants out, and he was slated to sell his 65 percent of the team for $300 million to Chouest, […]
Let the speculation begin: NBA contraction on the table
NBA Commissioner David Stern dropped a bombshell today: the league would be open to contraction as a way to bring down player costs — to the tune of $700M+ — as the league’s owners struggle to find a financial model that works. But Stern, who usually has a decent ear for public relations, may come […]
Leonsis take over Wizards
It is the end of the Pollin era in Washington, as Ted Leonsis takes over total control of the Washington Wizards and the Verizon Center, giving him the bookend NHL and NBA teams as well. Leonsis, who made his fortune when AOL was the dominant online service in the world, agreed on May 1 to […]
