BRHornet45
07-21-2010, 12:46 AM
New Orleans Hornets sale remains in limbo as the two parties are $24 million to $30 million apart in negotiations, sources say
LAS VEGAS — The New Orleans Hornets’ transfer of ownership remains stalled because co-owners George Shinn and Gary Chouest are $24 million to $30 million apart in negotiations, according to two sources.
Chouest’s unwillingness to agree to Shinn’s estimated value of the team is why he is seeking outside investors, sources close to the situation said.
Chouest also is leery about the potential for a lockout after next season if the league owners and players association cannot finalize a new collective bargaining.
Since negotiations stalled several weeks ago, Shinn and Chouest barely are on speaking terms, sources said. But Hornets President Hugh Weber denied the assertions Friday, saying both owners speak and collaborate on all team-related business — but they are not in a rush to get the transfer completed.
http://www.nola.com/hornets/index.ssf/2010/07/new_orleans_hornets_sale_remai.html
LAS VEGAS — The New Orleans Hornets’ transfer of ownership remains stalled because co-owners George Shinn and Gary Chouest are $24 million to $30 million apart in negotiations, according to two sources.
Chouest’s unwillingness to agree to Shinn’s estimated value of the team is why he is seeking outside investors, sources close to the situation said.
Chouest also is leery about the potential for a lockout after next season if the league owners and players association cannot finalize a new collective bargaining.
Since negotiations stalled several weeks ago, Shinn and Chouest barely are on speaking terms, sources said. But Hornets President Hugh Weber denied the assertions Friday, saying both owners speak and collaborate on all team-related business — but they are not in a rush to get the transfer completed.
http://www.nola.com/hornets/index.ssf/2010/07/new_orleans_hornets_sale_remai.html