http://sports.espn.go.com/nba/news/story?id=2948144
NEW ORLEANS -- New Orleans Hornets owner George Shinn has agreed to sell 25 percent of his NBA franchise to a family-owned investor group led by south Louisiana businessman Gary Chouest.
Shinn introduced Chouest, owner of a Galliano, La.-based offshore supply company, at a dinner hosted by the team Tuesday night. And Shinn hailed his new partner's involvement as proof that the Hornets were serious about becoming a long-term fixture in this recovering city.
"I need somebody that has roots here, that has a business here, that has connections here, that's going to fight for it the same way I do, that's going to help me sell tickets," Shinn said of his new minority partner. "He's got a skin in the game now. He's going to do it. That's what we need to make this thing work. It's not just money."
The new owner is a group called Slam Dunk, owned by Chouest and his family. Chouest and his sons played basketball in their youth and remain passionate about the game. Chouest has been a season-ticket holder, sitting near courtside, since the Hornets moved to New Orleans from Charlotte in 2002.
Chouest said that while he is confident he will get a decent return on his investment, he said he wanted to give something back to the state that helped his company, Edison Chouest Offshore, become one of the most successful businesses of its kind.
"I want to do something for our community, for our area, for our city, for south Louisiana," Chouest said. "It's up to the people who sort of live off the land to invest in it, where we have something here that's going to be a magnet to attract other large businesses and keep them here. I think any large city without professional sports teams are extremely limited in attracting industry and attracting and holding large companies.
NEW ORLEANS -- New Orleans Hornets owner George Shinn has agreed to sell 25 percent of his NBA franchise to a family-owned investor group led by south Louisiana businessman Gary Chouest.
Shinn introduced Chouest, owner of a Galliano, La.-based offshore supply company, at a dinner hosted by the team Tuesday night. And Shinn hailed his new partner's involvement as proof that the Hornets were serious about becoming a long-term fixture in this recovering city.
"I need somebody that has roots here, that has a business here, that has connections here, that's going to fight for it the same way I do, that's going to help me sell tickets," Shinn said of his new minority partner. "He's got a skin in the game now. He's going to do it. That's what we need to make this thing work. It's not just money."
The new owner is a group called Slam Dunk, owned by Chouest and his family. Chouest and his sons played basketball in their youth and remain passionate about the game. Chouest has been a season-ticket holder, sitting near courtside, since the Hornets moved to New Orleans from Charlotte in 2002.
Chouest said that while he is confident he will get a decent return on his investment, he said he wanted to give something back to the state that helped his company, Edison Chouest Offshore, become one of the most successful businesses of its kind.
"I want to do something for our community, for our area, for our city, for south Louisiana," Chouest said. "It's up to the people who sort of live off the land to invest in it, where we have something here that's going to be a magnet to attract other large businesses and keep them here. I think any large city without professional sports teams are extremely limited in attracting industry and attracting and holding large companies.
