New Orleans Hornets owner George Shinn has been attempting to sell his stake in the team for months, but has been unsuccessful in finding a buyer.So now the NBA may be stepping in to buy the franchise until a permanent owner can be found.
Minority owner Gary Chouest originally expressed interest in buying Shinn’s share, but has since withdrawn.
The Hornets are off to a strong start at 13-6 this year, but attendance is so bad, the team may soon break its lease agreement with the state of the Louisiana.
Buying the team would give the league more time to find a permanent owner who could keep the franchise in New Orleans. The NBA declined to comment.
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