Hornets NBA Sale Conference Call Notes

David Stern's conference call about the Hornets just wrapped up. NBA.com should have the full transcript within the hour. In the meanwhile, Hornet fan Will (lsuhornet17) was tweeting some of the more intriguing tidbits of the conference. He's someone any Hornet fan should be following on Twitter for his constant Hornet related updates. With his permission, I'm republishing a running timeline of his tweets from the conference call here:

Interesting. Chouest was willing to stay on as minority partner, but NBA wanted full control. Pretty sure I don't like that.

52 minutes ago via web Favorite Retweet Reply

Chouest saying he will continue to support team. Wonder if that means he will be a part owner in the future.

48 minutes ago via web Favorite Retweet Reply

He would have to be a first stop for any perspective buyer who wants additional investors. (and wants to stay in NOLA)
48 minutes ago via web Favorite Retweet Reply
Maybe Chouest will be the wild card in the movement.
48 minutes ago via web Favorite Retweet Reply
Stern: "Franchise valued in excess of $300mil." No timetable on sale. "No rush."
38 minutes ago via web Favorite Retweet Reply
They seriously let Fletcher Mackel ask the 2nd question. To the NBA comissioner. I quit.
38 minutes ago via web Favorite Retweet Reply
Stern: Hornets were at the limit of their available credit. Confident they will make a profit on sale.
35 minutes ago via web Favorite Retweet Reply
One great sign: Stern says no timetable for sale. Will make decisions as season winds down. That probably means no March opt-out of lease.
33 minutes ago via web Favorite Retweet Reply
Stern keeps repeating league is in no rush. For better or worse, NBA will be Hornets' owner for awhile.
31 minutes ago via web Favorite Retweet Reply
Stern: New CBA will approve profitability of all teams, including New Orleans. Sale may not take place til after CBA is concluded.
31 minutes ago via web Favorite Retweet Reply
Stern: Not deterred in finding local ownership b/c team was not actively shopped due to Shinn/Chouest relationship.
27 minutes ago via web Favorite Retweet Reply
Stern evasive on whether they will not keep lease in place. Doesn't foresee any conflicts with owning team during CBA negotiations.
Again, Stern talks about having "the luxury of time" Doesn't see any pressure to sell team in the short-term.
19 minutes ago via web Favorite Retweet Reply
Yikes. Stern hinting that incentives similar to what Saints get will be necessary to keep Hornets here. Don't see that happening.
Stern says front office has full power to make moves, new ownership structure will not hinder Weber/Demps.
Gary Chouest is now a "adviser, valued season ticket holder, former owner, and perspective future owner" - David Stern.

9 minutes ago via web Favorite Retweet Reply

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Thanks to Will for the live updates. I'll link up the full transcript when it becomes available.

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