Shinn Delays Sale Of Stakes; Hornets Say Goodbye To OKC
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Shinn Delaying Sale Of Minority Stake
Until Louisiana Decision On Practice Facility
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Hornets Owner George Shinn has “postponed the sale of minority shares” in the team while he “waits for the state of Louisiana to make a decision about the Hornets’ practice facility,” according to Benjamin Hochman of the New Orleans TIMES-PICAYUNE. Shinn: “I’ve told the group that I was talking to that it doesn’t make sense to try to finalize anything or even put a term sheet together.” Hochman notes that when the Hornets moved to New Orleans from Charlotte in ’02, part of the team’s deal was that the state would build a practice facility, but “ground has yet to be broken.” Meanwhile, Shinn “remains steadfast that he will not sell a majority share of his team, and he said he would likely sell only to Louisiana-based buyers” (TIMES-PICAYUNE, 4/13).
FOND FAREWELL: NBA Commissioner David Stern tonight will be in attendance for the Hornets’ final game at Ford Center before the team moves back to New Orleans full time next season. Stern is scheduled to address the crowd before the game, and Hornets players will “thank the fans before the game and during halftime and give away the shoes off their feet following the game” (DAILY OKLAHOMAN, 4/13). Coverage in today’s OKLAHOMAN is very positive about the Hornets’ two-year stint in the city, with Berry Tramel writing Ford Center “buzzed every Hornets home game. ... The Hornets delivered” (DAILY OKLAHOMAN, 4/13). A DAILY OKLAHOMAN editorial: “The Hornets have been more than just a business deal for the city. Their players and executives have been actively involved in the community, giving back in a variety of ways. ... This arrangement has been a win-win from the start, for the city and the Hornets” (DAILY OKLAHOMAN, 4/13). Shinn said, “I think us coming through [Katrina] to end up here and for this community to embrace us the way it did, I think it’s one of the best sports stories in the country this past two years” (AP, 4/13). Oklahoma City Mayor Mick Cornett said of having the Hornets in the city, “I think it actually created a profile for us. I don’t think we had much of a sports profile before the Hornets” (DAILY OKLAHOMAN, 4/13).
LOOKING AHEAD: Cornett said that there is a “‘real chance’ Oklahoma lands a franchise in the next year or two.” He added that there will be upgrades to the Ford Center and a practice facility “will be built soon to lure a team.” But he indicated that “interest in the NHL has died” (DENVER POST, 4/13)....Cox Oklahoma would “need to receive a waiver” from the NBA to allow Hornets games from Louisiana-based Cox Sports TV to be carried locally. Under NBA rules, Oklahoma is part of the Mavericks’ territory. Cox Oklahoma President Dave Bialis said that the operator would “look into the possibility of carrying Hornets games” (OKLAHOMAN, 4/13).
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