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

Saintswrath · 04-08-2010, 10:43 AM

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

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

Beat me to it ... Guess they will have a chance now. This should get more interesting.

FatCitySaint · 04-09-2010, 09:42 PM

Thank God!!! Maybe we can keep CP3 now!!!!

WVSaint · 04-11-2010, 12:03 AM

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

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

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

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

http://blackandgold.com/blogs/saints....html#comments

04-08-2010, 10:43 AM	#1
Saintswrath +Mod Join Date: Oct 2005 Location: Between 504 & 813 Posts: 1,776 Blog Entries: 4	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 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.
	Last edited by Saintswrath; 06-02-2010 at 11:49 AM..

04-09-2010, 06:26 AM	#2
SmashMouth I donated, did you? Join Date: Sep 2007 Location: Mandeville, LA Posts: 38,127 Blog Entries: 29	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.

04-09-2010, 09:42 PM	#3
FatCitySaint Where y'at baby Join Date: Dec 2009 Location: Nashville via Metry!!!! Posts: 191	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!!!!

04-11-2010, 12:03 AM	#4
WVSaint 500th Post Join Date: Dec 2005 Location: West Virginia Posts: 807	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?

04-11-2010, 05:24 AM	#5
SoulStar 100th Post Join Date: Jun 2006 Location: Arlington Tx Posts: 157	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.
	You say that were nuts for pulling for them, you call them sorry, you wonder why we deal with them year after year. Well New Orleans is like no other city in the world, and no fans are anything like saint fans.

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04-11-2010, 02:05 PM	#6
WVSaint 500th Post Join Date: Dec 2005 Location: West Virginia Posts: 807	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.

04-11-2010, 09:46 PM	#7
SoulStar 100th Post Join Date: Jun 2006 Location: Arlington Tx Posts: 157	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.

04-12-2010, 09:43 AM	#8
saintsfan1976 10000 POST CLUB Join Date: Apr 2007 Location: Atlanta Posts: 10,832 Blog Entries: 3	Re: New Orleans Hornets' owner George Shinn ready to sell team to local billionaire businessman Gary Chouest http://blackandgold.com/blogs/saints....html#comments