Report: NBA Considers Buying Hornets

by December 04, 2010
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With Hornets minority owner Gary Chouest backing out, NBA basketball in New Orleans just took a big blow. A tough pill to swallow for Hornets fans. From The Times Picayune: “The New Orleans Hornets could become the first franchise owned and operated by the NBA because of minority owner Gary Chouest’s reluctance to purchase George Shinn’s majority share. Sources indicated Friday night that Chouest does not think he can devote the needed time to run an NBA franchise and operate his private business. With Chouest’s withdrawing his potential offer to purchase the franchise, the NBA is considering buying Shinn’s share before seeking a buyer or a group of investors willing to keep the team in the Crescent City.”