New Orleans Hornets to Negotiate With a ‘Handful’ of Potential Buyers

by September 15, 2011

The New Orleans Hornets are currently property of the NBA, but that may change should upcoming negotiations with potential buyers go well. From the AP: “The NBA’s appointed governor of the league-owned New Orleans Hornets said Wednesday that he is nearly ready to begin negotiations with ‘a handful’ of potential buyers who have expressed interest in purchasing the club and keeping it in Louisiana. Jack Sperling, who was appointed by NBA commissioner David Stern to oversee the Hornets when the NBA bought the club last December, said the franchise has made substantial progress toward securing the revenue streams necessary to remain in New Orleans long-term. ‘We have improved the financial situation of the team, and now we’re getting ready to start to talk, to have serious dialogues … with potential buyers,’ Sperling said Wednesday night while attending a social event aimed at boosting community support.”