A couple weeks after a negotiation ploy that made things sound more dire than they really were, a deal has been struck for majority owner George Shinn to sell his shares to minority owner Gary Chouest.
As the news comes from NBA.com, we’re going to assume the sources are legit.
The club is planning an announcement on Wednesday afternoon, the person told The Associated Press on Monday, speaking on the condition of anonymity because no official announcement has been made by either party to the sale…
Chouest is a Louisiana native and owner of Edison Chouest Offshore, a company that builds and operates marine vessels for the offshore oil and gas industries.
In 2007, when the team returned from a two-year stay in Oklahoma City because of Hurricane Katrina, Chouest bought 25 percent of the club for $62 million, saying at the time his goal was to keep the Hornets in Louisiana.
This is good news for the Hornets and anyone who wants to see the team stay in New Orleans.
The reason this is good is simple economics. For Shinn, the Hornets were his primary business and he needed the team’s cash flow to keep it afloat, which led to trades of good players (Rasual Butler) to stay under the luxury tax threshold. Chouest has a thriving energy business; the Hornets will be his secondary business and income. Not that he is going to suddenly go Mark Cuban on the spending, but there will be more money behind the team and with that more stability.
No word yet on how much the team was sold for.
Wednesday night in Boston Gordon Hayward underwent surgery to repair his dislocated ankle and fractured tibia suffered just five minutes into the season-opening game, a gruesome injury that put a pall over the rest of the night.
There had been hope from some Celtics fans that Hayward could return this season, likely for the playoffs, but now that the surgery is complete Hayward’s agent told Adrian Wojnarowski of ESPN not to expect him back until next season.
This shouldn’t be a surprise to anyone who saw the injury. Hayward is in the first year of a four-year deal with the Celtics, they were always going to choose a cautious path rather than rush him back. Under Danny Ainge Boston has always taken the long view, even with all their moves this summer — specifically bringing in Hayward and Kyrie Irving — the target was to be the team set up for next as LeBron James and the Cavaliers faded. That plan does not change now.
Earlier in the day, Hayward had sent a video message out to Celtics fans thanking them for their support in the past 24 hours.
Without Hayward, the Celtics now will focus more on smaller lineups, rookie Jayson Tatum will get more run, as will Marcus Smart in his contract year. Jaylen Brown will be thrust into a more significant role. Also, Kyrie Irving will be asked to do more as the team’s second-best playmaker is now out for the season.
The Celtics will take a step back this season without Hayward, who was going to be crucial for them on both ends of the floor. That’s evidenced by their 0-2 start, falling to the Cavaliers and Bucks on the first couple nights of the season. Boston should still be a team well above .500 and in the playoffs, but they will not be quite the same this season.
Any controversy over C.J. McCollum‘s suspension for the season-opener should be put to rest. The Trail Blazers fared fine without him.
More than fine.
Portland beat the Suns, 124-76, Wednesday. The 48-point margin is the largest ever in a season opener, even as the Trail Blazers let a 58-point fourth-quarter lead dwindle.
Here are the most lopsided season-openers in NBA history (openers for both teams appearing twice):
The 48-point defeat is also the Suns’ worst lost in franchise history, topping a 44-point loss to the Seattle SuperSonics in 1988. It could be a long year in Phoenix.
Marcus Smart and Matthew Dellavedova thrive on aggravating opponents, so when matched up, of course they aggravated each other.
Deduct points from Smart for pulling the hold-me-back charade behind a referee. Plus, Dellavedova’s Bucks beat Smart’s Celtics, 108-100.
The Nets’ projected record this season came under greater scrutiny when the Celtics traded Brooklyn’s unprotected first-round pick to the Cavaliers in the Kyrie Irving trade. After finishing third-to-last and last the previous two years, were the Nets poised to take a step forward, or would they convey a very high pick to the Cavs?
Jeremy Lin, who missed 46 games last season, getting healthy was a reason for optimism in Brooklyn and pessimism in Cleveland. But it appears the veteran guard could be out a while.
Adrian Wojnarowski of ESPN:
Billy Reinhardt of Nets Daily:
If the injury is as bad as feared, what a bummer for Lin. He came to Brooklyn expecting to play a leading role on a developing team, and he just can’t stay healthy.
The Nets were probably more focused on developing their younger players, but – especially without their own draft picks – there was no harm in shooting for the playoffs. This appears to a blow to that (already unlikely) dream.
It’s a boon to the Cavaliers, though. And whenever something significantly affects LeBron James‘ team, it has ramifications into the entire power dynamic of the Eastern Conference. For an injury to a player on a team most expect to be bad, the medical developments here will be tracked closely around the league.