Bad News for New Orleans Basketball Fans: Are the Hornets Moving From New Orleans?
There is much talk of the Hornets moving from New Orleans now that the team was purchased by George Shinn, a majority shareholder, on Monday. Many are speculating that the odds of the team staying in New Orleans are slim, and everyone can expect a big move following the purchase and resale of the Hornets.
But, many questions remain. Will the Hornets move? Where will the Hornets move? When will they move? Who will buy them? Many insiders speculate that the Hornets will move from New Orleans and relocate to Chicago, a huge market with currently only one team. The value assigned to the team is over $300 million, assessed by commissioner David Stern. Overall, Stern will want to increase the value of the franchise, which may require foreign investment, although the NBA will look for local ownership.
Will the Hornets be calling on New Orleans movers in the future? Or will the team stay put in Louisiana? More importantly, what will happen to Chris Paul?