Are the New Orleans Hornets about to be sold?
WWL's Dave Cohen Reporting
Reports are coming out of Baton Rouge say that negotiations are nearly final for a sale of the New Orleans Hornets to a group led by a Galliano businessman. According the John Maginnis of LAPolitics.com, state legislators say they have been advised that Gary Chouest, owner of marine supply company Edison Chouest Offshore, has reached an agreement in principle to buy the NBA team from majority owner George Shinn.
WWL First News talked to Shinn earlier this week and he gave no indication he wanted out. "I just have a real warm, good feeling that things are going to work. No guarantees now, but I do feel real good the way things are going," said Shinn.
Earlier this year Shinn said he would "never" sell a majority of his team, but would sell a minority ownership to local investors.
On his site, Maginnis says:
"A deal has been made," said a source close to the negotiations, adding that a final price and the involvement of some current minor shareholders are still being worked out.
What are the Hornets saying today? So far, nothing. The team, however, has called a 2:30pm news conference to introduce the new draft pick Julian Wright. So, we expect to get some sort of a statement at that time.
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