Gary Chouest

Gary Chouest wants to keep Hornets in New Orleans, so long as he doesn’t have to buy team

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Gary Chouest was oh, so close to buying the New Orleans Hornets. He already had 25 percent and was going to buy out the rest from George Shinn. Then he got a better look at the $83 million in debt they had, or his business supplying vessels to the off-shore gulf oil industry took a [more]

More bad financial news about Hornets, like every day that ends in “Y”

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This is starting to remind me of the bank bailouts, where once the government decided to help them out the depth of the morass just kept becoming clearer. The Hornets lost $18.24 million dollars in 2009-10, according to Jonathan Abrams at the New York Times Off The Dribble blog. And the numbers after this season [more]

The Hornets are deep in debt – congrats on the purchase David Stern

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You knew if the New Orleans Hornets were making money George Shinn would not have been trying to sell the team (he would have done a Donald Sterling and run a team poorly for profit as long as he could). But the leaked financials of the New Orleans Hornets painted a bleak picture, team where [more]

David Stern’s New Orleans public relations problem

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CNBC’s sports business reporter Daren Rovell has posted laundry list of why it is a bad idea for the NBA to have taken over ownership of the New Orleans Hornets. 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 [more]

The NBA may buy the Hornets. Yes, the situation is that bad.

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Okay, so a lot’s happened in the last 24 hours (most of which actually happened last week, but we’ll get to that) with the ownership situation in New Orleans. The world is much different than it was two days ago. In short, the NBA is closing in on the purchase of the New Orleans Hornets [more]