Truth & Rumors > NBA

NBA talking with potential buyers for Hornets

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04:14 PM ET 10.17 | Jac Sperling, who was appointed by the NBA as the Hornets' team governor sat down with Jimmy Smith of The Times-Picayune to talk about where things stood with the franchise including the possible sale of the team to a private owner. "We've started having conversations with potential owners already," revealed Sperling. "The number of potential owners has grown. I think the commissioner mentioned there were four or five, and I think the number has increased a little bit. "There are some potential owners who live in New Orleans and some who live outside of New Orleans. But all of them understand that they would be buying a team that would have a long-term lease here. And that's the goal -- to extend the lease to a long-term arrangement with the state as part of finding a new owner. "[The sale conversations are] moving along now. Conversations, as I mentioned, have started. We're trying to move the process along so that once the labor situation is clarified; we'll be able to act quickly."

New Orleans Times-Picayune

Chris Paul, Manny Flores/Cal Sport Media Chris Paul, Manny Flores/Cal Sport Media
October 17, 2011  04:41 PM ET

Yea, im sure they're r jus being flooded with offers, since they have managed 2 get a handle on this lockout...NOT!! LOL

October 17, 2011  07:37 PM ET

This is the leverage the players need. They can just not agree to anything til the HoreNuts are sold. Then take the price it was sold for and compare to what it was sold for previously and that will show that all the owners are actually making money off of owing the teams.

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October 17, 2011  09:44 PM ET

The players should buy the hornets then they'd be on the inside

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October 18, 2011  09:14 AM ET
QUOTE(#3):

It shows how much teams are losing money because there has been a big amount of teams sold since 1999. Here are the teams that's been sold since the last CBA in 1999.Mavericks, Suns, Pistons, Nets, Wizards, Hornets, Sonics, Bobcats, Hawks, Warriors, and probably some more that I missed. That's a lot of teams sold compared to the pre-1999 CBA. Too many owners are losing money that's why they are selling their team. Grizzlies was also on the brink.

I assure you that the Pistons were not losing money bro. The only reason for the sell of the team was because the owner died and his wife wanted to sell so she could get the money. Until last year the Pistons were a very profitable team....now no one but me wants to see that load of crap we put on the floor on game night lol

October 18, 2011  09:39 AM ET

There Is A Sucker Born Everyday, Bros.

October 18, 2011  10:21 AM ET
QUOTE(#3):

It shows how much teams are losing money because there has been a big amount of teams sold since 1999. Here are the teams that's been sold since the last CBA in 1999.Mavericks, Suns, Pistons, Nets, Wizards, Hornets, Sonics, Bobcats, Hawks, Warriors, and probably some more that I missed. That's a lot of teams sold compared to the pre-1999 CBA. Too many owners are losing money that's why they are selling their team. Grizzlies was also on the brink.

Are they selling because they are losing money or because they've already turned a profit and are cashing out? Case in point, Red McCombs bought and sold both the San Antonio Spurs and Minnesota Vikings. In both cases, he made serious bank.

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October 18, 2011  11:32 AM ET

Newark Hornets -- Coming, Fall 2012

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October 18, 2011  01:17 PM ET
QUOTE(#7):

You actually bring up an interesting point.Any business transaction is a gamble - weighing risk and reward.Since we're in a lockout, potential buyers may get a good deal on the Hornets - because there's a lot of risk in buying an NBA team at this time. Once the lockout is over, and games are being played again, with revenue flowing in as before, the price will shoot up because there is no longer as much risk. A smart businessman will weigh the risks and may want to strike now, when the opportunity is best.

yea this would b a great investment, if only the employees weren't disgruntled....smh

October 18, 2011  01:19 PM ET
QUOTE(#8):

Your argument makes no sense. At best all this shows is that some teams are mismanaged. In order for teams to be sold, someone has to buy. Nobody is buying something that they can't make money on.

exactly, and not 2 mention look at sum of those teams he listed...the Mavs r hardly on the brink of losing anything except their starting core and the Suns, well they already dodged a nice bullet, and his name is Amar'e. I mean come on, at leaset use the teams that r publically known 4 struggling, but tryna use the current CHAMPS is jus ridiculous.

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