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-   -   Breaking News: New Orleans Hornets' owner George Shinn ready to sell team to local billionaire businessman Gary Chouest (http://blackandgold.com/pelicans/25941-new-orleans-hornets-owner-george-shinn-ready-sell-team-local-billionaire-businessman.html)

Saintswrath 04-08-2010 10:43 AM

New Orleans Hornets' owner George Shinn ready to sell team to local billionaire businessman Gary Chouest
 
There were any number of ironies that presented themselves on Wednesday night at New Orleans Arena as the New Orleans Hornets continued playing out the string of their losing season against the Charlotte Bobcats.

The owner’s court-side chair, recently re-occupied by majority owner George Shinn who returned a week and a half ago disease-free after January surgery on his cancerous prostate gland, was being used by someone else as Shinn had a previous engagement.
Chouest purchased his one-quarter interest in the team in July 2007, the summer the team returned to New Orleans, for $62 million and could likely pay Shinn close to an additional $200 for Shinn’s remaining 75 percent making the total purchase price likely greater than $260 million, sources said.

New Orleans Hornets' owner George Shinn ready to sell team to local billionaire businessman Gary Chouest | - NOLA.com

INFO ON CHOUSET

Quote:

He owns the vessel service company Edison Chouest Offshore in Baton Rouge.. He's also part owner of various other companies and has a huge stake in oil..

His company expanded 2 years ago and increased 2000 jobs in Louisiana.. The man is bankin!!!.. And the Ownership of the hornets is just going to probably be his lil fun on the side thing..
He's shown to be very generous with his employee's.

SmashMouth 04-09-2010 06:26 AM

Re: New Orleans Hornets' owner George Shinn ready to sell team to local billionaire businessman Gary Chouest
 
Beat me to it ... Guess they will have a chance now. This should get more interesting.

FatCitySaint 04-09-2010 09:42 PM

Re: New Orleans Hornets' owner George Shinn ready to sell team to local billionaire businessman Gary Chouest
 
Thank God!!! Maybe we can keep CP3 now!!!!:)

WVSaint 04-11-2010 12:03 AM

Re: New Orleans Hornets' owner George Shinn ready to sell team to local billionaire businessman Gary Chouest
 
you guys probably know a hell of a lot more about this guy than i do. I like that he wants to keep them in NO, but will this help them be more competitive?

SoulStar 04-11-2010 05:24 AM

Re: New Orleans Hornets' owner George Shinn ready to sell team to local billionaire businessman Gary Chouest
 
WVSaint, thats a tuff one...if the guy is willing to spend money then it will help the team greatly. Unlike the NFL the NBA has a soft cap which means that you pay a dollar for dollar fine if you go over the cap.

$71.150 million

Once the hornets contracts go over that number...the owner has to match the dollar for dollar diffrence in payment to the leauge. Thats why so many of the owners in the NBA make money outside of the "toy" team they own.

Mark Cuban is a prime example of this, he hasnt made a dime of the Dallas Mavs yet..he recently stated that he calls losing 10 million in a season a good year.

If this guy got the bucks and wants to support the team, then you should see alot of talent sticking around in NOLA for a long time, and CP3 should be a very happy man.

WVSaint 04-11-2010 02:05 PM

Re: New Orleans Hornets' owner George Shinn ready to sell team to local billionaire businessman Gary Chouest
 
Thanks for the reply. I think they have a good core of young players to build around CP3. Collison and Thornton turned out better than I thought they'd be. If they can hit like that again this year, they should have a solid team in the coming years.

SoulStar 04-11-2010 09:46 PM

Re: New Orleans Hornets' owner George Shinn ready to sell team to local billionaire businessman Gary Chouest
 
Oh they can make a huge splash via trade this off season with Peja in the last year of his contract....someone is dying to get 15 million off the books, and my money is Philly and Igudaola, or maybe just that 15 million can be used to land Chris Bosh this off sesaon via Sign and Trade.

saintsfan1976 04-12-2010 09:43 AM

Re: New Orleans Hornets' owner George Shinn ready to sell team to local billionaire businessman Gary Chouest
 
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