The National Basketball Association approved its purchase of the New Orleans Hornets from George Shinn and Gary Chouest, but the vote from the Board of Governors was not unanimous. The league did not disclose the final margin, choosing instead to note it passed with a three-quarters majority — the margin needed for passage. The league […]
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New Orleans ownership group emerging
A potential Louisiana-based ownership group for the New Orleans Hornets is emerging, as locals work to keep the NBA franchise in New Orleans Arena despite interest from other cities. The group could include local attoney Morris Bart and current minority owner Gary Chouest, who now says he could up his stake in the team from […]
Jindal swats down talk of state subsidies for Hornets
Louisiana Gov. Bobby Jindal says there’s no way state services will be cut in order to increase state subsidies for the New Orleans Hornets (NBA) and argues the best way to keep the team is for fans to show up so the team can’t leave its lease for three years. Jindal, a Republican politician with […]
Stern confirms NBA takeover of Hornets
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 […]
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, […]
