New Orleans Hornets to Go on Sale?

by April 07, 2010

There are rumblings in the Big Easy that George Shinn is looking to sell the team. The Times Picayune has the latest: “In what could become an offseason of significant change for the franchise, New Orleans Hornets owner George Shinn might consider selling his majority share he has controlled since the team’s inception in 1988. Hornets’ officials on Tuesday would neither confirm nor deny that Shinn is interested in selling his share to minority owner Gary Chouest, who in 2007 purchased a 25-percent stake in the NBA franchise for $62 million. Hornets spokesman Harold Kaufman said via e-mail Tuesday that Shinn’s ownership stake, the coaching situation as well as many other issues will be addressed after the season ends. The Hornets close the regular season April 14 at Houston. Chouest is the president and CEO of the Edison Chouest Offshore companies based in Galliano that builds, owns and operates marine vessels. The New York Post reported Tuesday the prospect of the Shinn family selling its majority share is gaining thrust and that former Dallas Mavericks Coach Avery Johnson, a New Orleans native, is almost guaranteed to be the first choice to succeed Coach Jeff Bower, who also serves as the team’s general manager.”