Hornets Sale Still Stalled

[OSUBlazerfan]

http://www.hoopsworld.com/Story.asp?story_id=16858

The pending sale of the New Orleans Hornets from current majority owner George Shinn to minority owner Gary Chouest still seems nowhere close to getting done.

Sources in Las Vegas last week said both sides could not agree on a sale price and that with the Warriors having sold for a NBA record $450 million things could get even more contentious.

Hornets' president Hugh Weber is playing damage control on a number of fronts after the team parted ways with GM Jeff Bower last week and is trying to find a replacement GM.

Weber says that the uncertain ownership situation has not hampered any of the teams decisions and rumors of Shinn and Chouest not speaking with each other are the furthest from the truth.

"Both of them have been involved in every move we've made," Weber said to John Reid of The Times Picayune. "I keep saying it, and I don't know if people don't believe me — but these are the two most cooperative and collaborate guys.

"It just a situation where timing and the work each of them are doing in their own businesses that it's just not a critical issue for them to hurry up and get things down. There is just nothing normal about a team transaction. Every one of them is different."

"It's funny. We continue to make changes, continue to make decisions and continue to have all these things happen and it (delay of ownership transfer) had zero effect and yet it still an issue to everyone else but us," Weber said.

"We don't have an outside guy that's looking at the team and trying to buy the asset - this guy says it's worth that, this guy says it's worth this," Weber said. "We have two (Shinn and Chouest) that have already bought into this thing. So the fact that a team is (selling) at a record level is good for both of them. Because they both own a significant share of one of these 30 (NBA) franchises."

 

[Idog1976]

http://www.hoopsworld.com/Story.asp?story_id=16858

Chouset gets poorer by the day. The BP cap is only another side show. The damage has been done and a leak on the ocean floor continues to kill the Gulf. He's not going to buy the team with all the uncertainty being an offshore rig guy.

Come to Portland CP3 and come cheap

P.S. I'm NOT smiling about the Gulf, it's almost too horrible to contemplate frankly.

 

[THE HCP]

I feel bad for Monty! His 1st head coaching job, and he's got to get mixed up with all this drama!