Hornets Close To Deal With New Owner And Arena Lease Stern Says

by SB Nation NBA News on Feb 22, 2012 10:17 AM CST in News

(SB Nation, Mike Prada) The Hornets may soon be sold to a new buyer that would keep the team in New Orleans for the foreseeable future, NBA commissioner David Stern said in an interview with NBA.com's David Aldridge. Stern said the league is "very close" with one potential buyer and expects the deal and the new lease in New Orleans to be completed around March 1.

"We're moving on dual tracks on a buyer, and with the state's contribution under a new lease that will likely be complete, both of those, by March 1 or on or about March 1. The deal itself can't close until the legislature confirms the role of the state, and the legislature convenes in March," Stern said.

Stern said that the state of Louisiana will contribute to the lease, and there will not be an out clause in it. He did not mention the name of the potential buyer, only saying that one was "in the lead" and a second possibility was "awaiting future events."

Stern also said that he had no regrets about the NBA purchasing the team from former owner George Shinn.

"I think we had a city that had stood by us and we by it, a state that supported us, and we it. We had an owner at the beginning of the season who really was tired and without resources to continue. We stepped in rather than make it into a free-for-all. We wanted to do it in an orderly fashion, and I think we did,"

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Cheers!

"Sleeping on me probably in the coffin" - Tyga
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by OnPointLikeCP3 on Feb 22, 2012 10:29 AM CST reply actions

Cheers!

by nikkoewan on Feb 22, 2012 10:39 AM CST up reply actions

Stern

It’s been a trainwreck of a ride but it’s almost over. I can’t wait for him to be gone.

Then again, his presence probably solidified the Hornets residence in New Orleans; at least for the new future. All other owners last year wanted to buy and move the team. So thanks for that.

But still…. can’t wait for him to be gone.

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by MrWayneKeller on Feb 22, 2012 10:39 AM CST reply actions

Hey.....

If he wasn’t the “owner” our roster would have Kevin Martin, Lamar Odom, Luis Scola, and Goran Dragic taking up space. Gotta thank him for that.

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by OnPointLikeCP3 on Feb 22, 2012 10:41 AM CST up reply actions

I Don't Care

I prefer the deal we got but it’s not something so glorious that I can forgive him for handcuffing the franchise for a week and keeping them from moving on. He’s meddling will be a welcome subtraction for me.

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by MrWayneKeller on Feb 22, 2012 11:01 AM CST up reply actions

True on all points.

I think he should have let the basketball guys do their thing and stayed out of it.

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by OnPointLikeCP3 on Feb 22, 2012 12:18 PM CST up reply actions

Only time will tell?

You have to understand the logic though of making the franchise more appealing to possible new owners. The worst scenario would have been we made the LAK-HOU deal and these prospective buyers turned away.

by RedHopeful on Feb 22, 2012 1:28 PM CST up reply actions

Sure

I’m not debating the move itself. I’m all on board with you guys and have been since the start.

I just don’t like Stern calling the shots.

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by MrWayneKeller on Feb 22, 2012 3:20 PM CST up reply actions

With regards to handcuffing...

Technically he is the owner of the hornets, and any of us would have handcuffed the situation if we were the owners as opposed to letting the b-ball guys do their job. That is if it prevented a possible sale from happening. This is around a 350 million dollar purchase we are talking about.

My only judgement on stern will be based on the fact, or so it seems, that he is committed to basketball in Nola. Any one else less obligated to the city, and our franchise would have been gone. Hopefully this commitment is the real deal.

by Downtowndave78 on Feb 22, 2012 3:42 PM CST via mobile up reply actions

Yes

Those are all points I’ve acknowledged.

All I’m saying is I don’t want the comissioner of the NBA overseeing the team’s basketball opperations anymore and making a side show out of every major move the team tries to make in a crucial rebuilding stage for the organization. That’s all.

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by MrWayneKeller on Feb 22, 2012 3:57 PM CST up reply actions

Agreed...

The announcement of the new owner is going to put so much behind us!

by Downtowndave78 on Feb 22, 2012 8:08 PM CST via mobile up reply actions

Nothing new

but good to hear things are still on track.

by RedHopeful on Feb 22, 2012 11:51 AM CST reply actions

Article

Article on Nola today but here were the best parts:

Gordon also admitted he first experienced pain his right knee when he still was with the Los Angeles Clippers, before a blockbuster trade that sent him to the Hornets, with Al-Farouq Aminu and Chris Kaman, in exchange for All-Star point guard Chris Paul.

"At that time I thought it was nothing serious because I was fine and nothing was swollen,’’ Gordon said.

Gordon, who is expected to miss at least five more weeks, said he knows his injury situation might have a negative impact for some Hornets fans.

"Some people might think since I’m injured I might not want to be here,’’ Gordon said. "People might think I may not be happy, but at that same time this was an injury I could not control.

"I always look forward to playing here. If we had a full team throughout the year, maybe we would be a playoff team. I look forward to helping the guys out whenever I get back toward the end of the year. We’ll see how exciting it will be when I get back.’’

by RedHopeful on Feb 22, 2012 1:34 PM CST reply actions

First mention of one of the potential owners being in the lead.

Hoping it is a local guy (Benson or Chouest), or relocation talks will probably continue even with the new lease.

by Will H. on Feb 22, 2012 1:59 PM CST reply actions

It sounds like it is

the 2nd “awaiting future events” sounds like Seattle. :(

by RedHopeful on Feb 22, 2012 3:20 PM CST up reply actions

The second one is Benson's group

The first one is Chouest with maybe Dunleavy backing him also.

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by Grayson on Feb 22, 2012 4:51 PM CST up reply actions

Still Prefer Benson

Thanks for the heads up though.

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by MrWayneKeller on Feb 22, 2012 5:02 PM CST up reply actions

I like Chouest

Probably because he’d be more focused on the Hornets and not playing them second fiddle. It seems to me that Benson just wants a monopoly on the New Orleans market.

If it is Chouest who purchases the team I want him to become a bit more of a public figure. When he was the minority owner he rarely sought the spotlight. I want him (or whoever the owner is), to come out and say they want to keep the team here AND they want to build for a championship. If they don’t then I’m going to be very upset.

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by Grayson on Feb 22, 2012 5:14 PM CST up reply actions

Chouest Backed by Dunleavy

Is something I don’t like purely because I don’t want Dunleavy assuming the role as President of Basketball Operations.

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by MrWayneKeller on Feb 22, 2012 8:56 PM CST up reply actions

Yeah

Depends how long the lease is for. Chouest doesn’t seem likely. He’s already backed out once and has “reportedly” said the “asking price is too high.”

I think Benson’s our only shot. Plus, he’d sit back and let the front office take care of the moves (which I want to happen). I don’t want Dunleavy to buy the team, make himself GM and then run the team into the ground.

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by MrWayneKeller on Feb 22, 2012 3:22 PM CST up reply actions

I agree....

But at least one major problem is out of the way… Next problem/step is value for Kaman. One day it’s up & the next it’s down. I really hope he goes off tonight & we trade him immediately for a really special talent.

by fshabazz on Feb 22, 2012 3:24 PM CST via mobile reply actions

hate to be debbie downer

but we aren’t going to get a “special talent” for Kaman. I’d be ecstatic to get a Houston deal with a combination of Jordan HIll, Terrence Williams, Jonny Flynn, Hasheem Thabeet and a draft pick. None of those players are special talents, but that’s the ceiling of what the team will get in a trade.

"Sleeping on me probably in the coffin" - Tyga
Rally Squirrel will steal yo gurl.
SANI BOOOOOY!!!
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by OnPointLikeCP3 on Feb 22, 2012 5:34 PM CST up reply actions

So we are only a week away or so...

You think they want to announce around the All-Star weekend or wait until next week? Also how soon is the new television deal supposed to be worked out?

by usnfish on Feb 23, 2012 2:33 PM CST reply actions