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.
After missing two entire seasons, all signs are pointing to 2014 No. 3 overall pick Joel Embiid finally taking the court this season. Last week, Sixers coach Brett Brown said that Embiid has looked great in his workouts and is on track to play in the preseason, and Embiid himself echoed that sentiment over the weekend. He told the Philadelphia Inquirer‘s Marc Narducci that he feels “100 percent.”
There’s always a possibility and fear that Embiid’s recurring foot problems will come back, but for now, all indications are that he’s feeling good and will be able to contribute this season, which should make Sixers fans excited.
The release of NBA 2K17, the latest edition of the popular 2K video-game series, is less than a month away. Players are starting to get their likenesses in the game, as well as their player ratings, and tweet them out. Magic forward Evan Fournier wasn’t too happy with the way his came out.
Fournier’s countryman Rudy Gobert got in on the fun, too, changing his Twitter avatar to Fournier’s screenshot and encouraging others to do the same. He even created a hashtag for it.
At least they’re having fun with it.
On Friday, the Jazz traded German center Tibor Pleiss to the Sixers along with two second-round picks for Kendall Marshall. The big draw of the trade for Philly was the picks, and Pleiss is not expected to stay with the Sixers, according to Comcast SportsNet Philadelphia’s Jessica Camerato.
Pleiss had a forgettable season with Utah, and the Sixers have a glut of bigs including Nerlens Noel, Jahlil Okafor, Joel Embiid and Dario Saric. It would have been virtually impossible for Pleiss to crack the rotation, and it’s unlikely another team picks up his contract, which has $3 million guaranteed this season.
As a Jordan Brand athlete, Russell Westbrook is under the same Nike umbrella as former teammate Kevin Durant. But his latest Jordan spot, released Friday, has a very pointed tagline: “Some run, some make runways.”
Given the circumstances, it’s hard to interpret that as anything other than a reference to Durant signing with the Warriors and Westbrook signing an extension with the Thunder.