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AP source: Hornets sale talks reach 'impasse'


Posted Apr 23 2010 4:30PM

NEW ORLEANS (AP) -- A person familiar with negotiations says Hornets sale talks between George Shinn and minority owner Gary Chouest have reached an "impasse" and that Shinn now wants to speak with other possible buyers.

Shinn's preference is to deal only with investors who want to keep the Hornets in New Orleans, the person told The Associated Press Friday, speaking on the condition of anonymity because Shinn and Chouest have yet to publicly discuss the sale.

Shinn, who underwent recent treatment for prostate cancer, has said he wants to focus more on his charity work, his faith and write a book. Chouest, who bought 25 percent of the club in 2007, owns a Louisiana company that builds and operates boats for the offshore energy industry.

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