HORNETS' SHINN TURNS DOWN BID FOR TEAM BY BRUTON SMITH

     Hornets Owner George Shinn last month turned down a "large
offer" from Charlotte Motor Speedway majority owner Bruton Smith
to buy the team, according to Rick Bonnell in this morning's
CHARLOTTE OBSERVER.  Although neither would discuss financial
details, informed sources said Smith's final offer was around
$150M.  Both Shinn and Smith said negotiations had ended, but
Smith said he was "still interested" in the team and that he
would want Shinn to stay in the team's management.  Shinn said he
is not looking to sell the team, but added that he "wouldn't rule
out a future offer from Smith" (CHARLOTTE OBSERVER, 6/25).