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:
@LSUhornet17Will
Interesting. Chouest was willing to stay on as minority partner, but NBA wanted full control. Pretty sure I don't like that.
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@LSUhornet17Will
Chouest saying he will continue to support team. Wonder if that means he will be a part owner in the future.
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@LSUhornet17Will
He would have to be a first stop for any perspective buyer who wants additional investors. (and wants to stay in NOLA)
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@LSUhornet17Will
Maybe Chouest will be the wild card in the #helphornetshypebuythehornetsmovement.
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@LSUhornet17Will
Stern: "Franchise valued in excess of $300mil." No timetable on sale. "No rush."
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@LSUhornet17Will
They seriously let Fletcher Mackel ask the 2nd question. To the NBA comissioner. I quit.
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@LSUhornet17Will
Stern: Hornets were at the limit of their available credit. Confident they will make a profit on sale.
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@LSUhornet17Will
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.
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@LSUhornet17Will
Stern keeps repeating league is in no rush. For better or worse, NBA will be Hornets' owner for awhile.
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@LSUhornet17Will
Stern: New CBA will approve profitability of all teams, including New Orleans. Sale may not take place til after CBA is concluded.
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@LSUhornet17Will
Stern: Not deterred in finding local ownership b/c team was not actively shopped due to Shinn/Chouest relationship.
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@LSUhornet17Will
Stern evasive on whether they will not keep lease in place. Doesn't foresee any conflicts with owning team during CBA negotiations.
@LSUhornet17Will
Again, Stern talks about having "the luxury of time" Doesn't see any pressure to sell team in the short-term.
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@LSUhornet17Will
Yikes. Stern hinting that incentives similar to what Saints get will be necessary to keep Hornets here. Don't see that happening.
@LSUhornet17Will
Stern says front office has full power to make moves, new ownership structure will not hinder Weber/Demps.
@LSUhornet17Will
Gary Chouest is now a "adviser, valued season ticket holder, former owner, and perspective future owner" - David Stern.