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Okay, About Ownership

Posted on 2/28/11 at 1:53 pm
Posted by VOR
Member since Apr 2009
63742 posts
Posted on 2/28/11 at 1:53 pm
I hate posting anything I've heard anymore because of the couple of tools that always give me grief. But, frick it, I'll share some info that I think is positive. This is based on three separate casual conversations in the last week. None of it's news, per se, but the info is current if you know what I mean.

Apparently, Gary Chouest remains very much interested in buying a majority ownership interest in the team. Buddy Bart is solid for another 10% (he's made no secret of this). Conversations are ongoing with the state in terms of arena upgrades and a new lease. Chouest is "very active with the team and the state when it comes to the Hornets" . . .what that means I'm not sure. That's just the way it was expressed to me in a five minute conversation. By the way, I was also told by someone else who's connected with the league that if Chouest buys the team, he will be one of the three wealthiest owners in the NBA. I'd never thought about that.

Confidence is very high that the 10,000 season ticket target will be met. They're ahead of schedule.

Timing of any announcement regarding ownership is interesting. I wouldn't expect to hear much until the end of the season. Maybe the summer?

Only bummer is that there's a lot of uncertainty as to what CP3 will do. But that's par for the course.

Okay, that's it. Only reason I posted is that I feel good about local ownership happening. Take your shots.

Posted by Port City
Baton Rouge/Shreveport
Member since Jan 2007
3668 posts
Posted on 2/28/11 at 1:55 pm to
I take it with a grain of salt but thanks for posting.
Posted by TulaneTigerFan
Seattle
Member since Sep 2005
35856 posts
Posted on 2/28/11 at 2:00 pm to
quote:

By the way, I was also told by someone else who's connected with the league that if Chouest buys the team, he will be one of the three wealthiest owners in the NBA.


So he's worth more than $6 billion then? I never considered that, but I guess it's possible.
Posted by VOR
Member since Apr 2009
63742 posts
Posted on 2/28/11 at 2:02 pm to
quote:

So he's worth more than $6 billion then? I never considered that, but I guess it's possible.


I honestly have no idea, personally.

ETA: I was confident he was a billionaire but had no idea he would be in the 5 to 6 billion range. As I say, I don't really know.
This post was edited on 2/28/11 at 2:06 pm
Posted by cajuntiger07
Down DA Bayou
Member since Jan 2009
4399 posts
Posted on 2/28/11 at 2:04 pm to
quote:

So he's worth more than $6 billion then? I never considered that, but I guess it's possible.


I know one thing the guy has stupid money!!
Posted by CP3forMVP
Member since Nov 2010
14981 posts
Posted on 2/28/11 at 2:10 pm to
Do you have anything from the trade deadline?
Posted by Tigersfan
Member since Feb 2006
2645 posts
Posted on 2/28/11 at 2:11 pm to
quote:

Confidence is very high that the 10,000 season ticket target will be met. They're ahead of schedule.


Well then they are eeven more confident now becasue I just renewed my 6 tix 5 minutes ago.
Posted by Jordanreid2000
Tigerland, USA
Member since Aug 2008
1675 posts
Posted on 2/28/11 at 2:13 pm to
Good news. Pretty much what I thought. If we do lose CP at least we won't have a penny pinching owner like Shinn was.
Posted by CP3LSU25
Louisiana
Member since Feb 2009
51150 posts
Posted on 2/28/11 at 2:44 pm to
Posted by tigerbaittrick
Member since Jan 2010
7265 posts
Posted on 2/28/11 at 2:52 pm to
Posted by Fun Bunch
New Orleans
Member since May 2008
116766 posts
Posted on 2/28/11 at 2:54 pm to
Good info.

Everything I've heard is that Chouest has had every intention of becoming majority owner at some point, but the NBA basically convinced him and others it would be in everyone's best interest if they bought the team. They could then use it in CBA negotiations, and Chouest would buy the team once that's all over.

He's just waiting it out at this point.
Posted by VOR
Member since Apr 2009
63742 posts
Posted on 2/28/11 at 2:56 pm to
quote:

He's just waiting it out at this point.


That is my feeling 100%.
Posted by mylsuhat
Mandeville, LA
Member since Mar 2008
48958 posts
Posted on 2/28/11 at 3:13 pm to
quote:

So he's worth more than $6 billion then?
No doubt! He has a monopoly on suppy ships in the GOM and around the world.
Posted by Chad504boy
4 posts
Member since Feb 2005
167065 posts
Posted on 2/28/11 at 3:18 pm to
So what floating % might Chouest be in for? 51% or like 60-70%? Obviously, with Bart at 10%, what void are we looking to fill? Huge difference in finding minority ownership ranging from 20-39% here.
Posted by bigberg2000
houston, from chalmette
Member since Sep 2005
70120 posts
Posted on 2/28/11 at 5:07 pm to
I read somewhere that he wants to own no more than 51%.
This post was edited on 2/28/11 at 6:38 pm
Posted by bigt41
Member since Nov 2008
3484 posts
Posted on 2/28/11 at 5:13 pm to
he does own the biggest privately owned company and yes he is worth 6 billion
Posted by VOR
Member since Apr 2009
63742 posts
Posted on 2/28/11 at 6:07 pm to
quote:

I read somewhere that he wants to own no more that 51%.


That's what I've been told from the very beginning. But who knows? If it takes purchasing a few extra points maybe he'll do it.
Posted by Kramer26
St. George, LA
Member since Jan 2005
6407 posts
Posted on 2/28/11 at 6:33 pm to
Very good news.
Posted by corndeaux
Member since Sep 2009
9634 posts
Posted on 2/28/11 at 6:45 pm to
quote:

He's just waiting it out at this point.


Respectfully disagree.

Chouest played footsy all summer long with Shinn/Stern. Stern met with him in August to close the deal. Gary was hesitant. It appeared to Stern that he was delaying to drive down the team's value and have a cheaper purchase. At this point the league stepped in to protect the value of the franchise.

Maybe he has since changed his mind. I'll see what I can find out.
Posted by JayJay2
cane sweeeeeeet tea, Luzianne
Member since Jul 2010
15359 posts
Posted on 2/28/11 at 6:54 pm to
quote:

Maybe he has since changed his mind. I'll see what I can find out.



Yeah, you do that
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