Weber releases statement on ownership transfer

Tuesday, May 11, 2010
By: Jim Eichenhofer,

The Hornets organization today released the following statement related to ongoing ownership negotiations and sale: “Transfer of ownership is a very sophisticated and involved transaction but the goal of both parties is still to finalize all the legalities and announce a deal sooner than later,” said Hornets Team President Hugh Weber. “In the meantime, our day to day execution of plans including the search for a head coach has not changed, and the leadership by both owners remains committed to continuity and the priorities to build a championship franchise.”