David Stern says they plan to make a profit, but Rovell notes that right now the value of franchises is not rising and the lockout would make that worse.
Rovell notes that other leagues that have bought teams have lost money on the transaction. (Except for Major League Baseball, which bought the Montreal Expos with the express intent of auctioning them off to an owner who would move them. However the NBA says the goal is to keep the Hornets in New Orleans.) Right now there are no potential owners from New Orleans, or George Shinn would have sold to them.
If the Hornets have to be sold out of town, Stern has a problem on his hands.
The last point is the public relations disaster that this could create. If George Shinn and Gary Chouest couldn’t make it in New Orleans, fine. They’d say that and leave. Now it’s the NBA’s business to put this team in the best position it can and if they leave New Orleans it will be the league’s fault, not Shinn or Chouest’s fault, that they left.
Stern may go with the Seattle playbook here. Push for the state to help with arena and make financial concessions to keep the team and ask for the moon, When that doesn’t come through — it shouldn’t, Louisiana has more important things to spend money on — he can say there was not enough cooperation and there was no choice but to sell out of town.
But Seattle remains a PR disaster for the league, and now pulling out of New Orleans would be worse. So Stern is stuck trying to find someone to buy the team and keep them in one of the smallest and most economically depressed markets in the league. Good luck.