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.
Joakim Noah kept his hands on DeMarcus Cousins after getting called for a foul, and that – and/or the Kings heading toward their third straight loss – agitated Cousins into pushing the Knicks center.
Remember, Cousins and Noah have a history.
Aaron Gordon has backslid this season while playing out of his comfort zone at small forward, but there are still signs he’s progressing from great dunker toward great player – like this crafty inbounds pass off Marcus Morris‘ back.
The NBA refuses to grant continuation when a player senses an intentional foul in the backcourt and launches a heave.
Fortunately, players continue to shoot anyway – which produced this fun Brandon Jennings non-basket.
Matt Barnes infamously fought then-Knicks coach Derek Fisher for dating Barnes’ estranged wife, Gloria Govan. Barnes even bragged that violence is sometimes the answer.
His self-earned reputation won’t earn him the benefit of the doubt over an incident earlier today.
Sacramento Kings star Matt Barnes is wanted by NYPD for questioning after he allegedly choked a woman inside a nightclub early Monday morning — and TMZ Sports got video of him right after the incident.
Law enforcement sources tell us cops got a 911 call to Avenue Nightclub after midnight, reporting a man assaulting 2 women and another man. We’re told things got physical when Barnes allegedly choked one woman during an argument — and when 2 other people tried to intervene … he punched both of them.
In the video, Matt and a teammate — it appears to be DeMarcus Cousins — are talking about the fight. The teammate is clearly heard saying, “Matt hit the s*** out this ni***!”
Barnes was also arrested for domestic violence against Govan in 2011. But she said the incident was blown out of proportion, and the charges were dropped.
The Kings have already played at the Knicks and Nets, so Sacramento doesn’t return to New York this season.