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NBA completes Hornets purchase

Posted Dec 20 2010 5:49PM

NEW ORLEANS (AP) -- The NBA has completed its purchase of the New Orleans Hornets.

The league announced Monday that its board of governors has given its anticipated approval of the purchase.

NBA Commissioner David Stern announced Dec. 6 that the NBA intended to buy the Hornets from majority owner George Shinn and minority owner Gary Chouest.

Shinn had been trying to sell the club to Chouest since last spring but negotiations had stalled.

Stern says the franchise is worth about $300 million and that the league will look to sell the club to a more permanent owner, preferably one that would continue to operate the team in New Orleans.

The Hornets were founded in Charlotte by Shinn in 1988 and moved to New Orleans in 2002.

photoLeonard Attacks the Rim
Kawhi Leonard gets the rebound and takes it coast to coast for the dunk plus the foul.
photoGobert Puts It Back
Off the missed jumper by Elijah Millsap, Rudy Gobert gets the putback dunk.
photoDirk Delivers
Devin Harris gets the steal and finds Dirk Nowitzki for the fastbreak dunk.
photoFavors Finishes
Trey Burke finds Derrick Favors who stuffs in the dunk.
photoGobert Denies MCW
Rudy Gobert goes up strong to reject Michael Carter-Williams dunk attempt.

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