New Orleans Hornets
It was reported on Monday that current New Orleans Hornets owner George Shinn has agreed to sell the team to the NBA for an undisclosed amount. Jac Sperling, a New Orleans born attorney, is handling the deal which should be completed within days.
Sources say that the NBA plans to keep the New Orleans Hornets in New Orleans Louisiana. The NBA is seeking local buyers and may enter into talks with minority owner Gary Chouest to see if a deal could be reached. Chouest had been in talks with George Shinn to purchase the team but a deal could not be reached.