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Hornets, Kings could be on the move
Ironically, Oklahoma City could help New Orleans keep the Hornets.
Oklahoma City temporarily housed the New Orleans Hornets when they were displaced by Hurricane Katrina in 2005. A potential ownership group from OKC also tried to purchase the Hornets and make the relocation permanent. Come Monday, OKC ironically could help the city of New Orleans keep the Hornets.
The Hornets have an attendance benchmark requirement average of 14,735 and Monday night against the Thunder is the Hornets' last home game before the Jan. 31 deadline.
The Hornets can reach the benchmark by averaging 14,891 fans inside New Orleans Arena for Saturday night's game against San Antonio and Monday's contest against the Thunder.
If the benchmark is not met, the Hornets could opt out of their lease with the state, but would have to pay a $10-million penalty if they left before 2014, when the lease is set to expire.
The NBA bought controlling interest from Hornets owners George Shinn and Gary Chouest last month.
The NBA has said it wants to strengthen the team's finances before shopping the franchise. With the league's collective bargaining agreement expiring June 30, 2011, it is highly unlikely anyone would purchase a franchise until the new CBA is finalized.
Even though the Hornets' attendance hurdle almost certainly will be cleared, odds are the Hornets eventually will still move.
Billionaire Larry Ellison, the CEO of Oracle who unsuccessfully tried to buy the Seattle SuperSonics five years ago and Golden State Warriors last year, said he tried to buy the Hornets from Shinn for $350 million, but was outbid by the NBA.
Though Ellison said he hadn't decided whether he was going to relocate the Hornets had he bought the franchise, for years Ellison has wanted to bring an NBA team to HP Pavilion in San Jose, home of the NHL Sharks.
The Sacramento Kings also could be on the move.
Unable to secure a new arena to replace Power Balance Pavilion (formerly Arco Arena), the Maloof family ownership openly has been exploring its options of moving the Kings to the Honda Center in Anaheim, Calif. San Jose, Kansas City, Las Vegas and Seattle also have expressed an interest with the Maloofs.
Any team wanting to relocate next season must apply in writing to NBA Commissioner David Stern by March 1.
The Maloofs reportedly are having financial troubles. The family owns the Palms Casino Resort in Las Vegas, where private investment firms are said to be negotiating for controlling interest in the hotel after the Maloofs violated a loan agreement.
A Sacramento radio station reported last week the Maloofs recently met with Ducks owner Henry Samueli to discuss bringing the Kings to Anaheim. If that potential deal doesn't work out, there's always Ellison — again
By John Rohde Oklahoman Published: January 22, 2011
http://newsok.com/hornets-kings-could-be-on-the-move/article/3534832
Ironically, Oklahoma City could help New Orleans keep the Hornets.
Oklahoma City temporarily housed the New Orleans Hornets when they were displaced by Hurricane Katrina in 2005. A potential ownership group from OKC also tried to purchase the Hornets and make the relocation permanent. Come Monday, OKC ironically could help the city of New Orleans keep the Hornets.
The Hornets have an attendance benchmark requirement average of 14,735 and Monday night against the Thunder is the Hornets' last home game before the Jan. 31 deadline.
The Hornets can reach the benchmark by averaging 14,891 fans inside New Orleans Arena for Saturday night's game against San Antonio and Monday's contest against the Thunder.
If the benchmark is not met, the Hornets could opt out of their lease with the state, but would have to pay a $10-million penalty if they left before 2014, when the lease is set to expire.
The NBA bought controlling interest from Hornets owners George Shinn and Gary Chouest last month.
The NBA has said it wants to strengthen the team's finances before shopping the franchise. With the league's collective bargaining agreement expiring June 30, 2011, it is highly unlikely anyone would purchase a franchise until the new CBA is finalized.
Even though the Hornets' attendance hurdle almost certainly will be cleared, odds are the Hornets eventually will still move.
Billionaire Larry Ellison, the CEO of Oracle who unsuccessfully tried to buy the Seattle SuperSonics five years ago and Golden State Warriors last year, said he tried to buy the Hornets from Shinn for $350 million, but was outbid by the NBA.
Though Ellison said he hadn't decided whether he was going to relocate the Hornets had he bought the franchise, for years Ellison has wanted to bring an NBA team to HP Pavilion in San Jose, home of the NHL Sharks.
The Sacramento Kings also could be on the move.
Unable to secure a new arena to replace Power Balance Pavilion (formerly Arco Arena), the Maloof family ownership openly has been exploring its options of moving the Kings to the Honda Center in Anaheim, Calif. San Jose, Kansas City, Las Vegas and Seattle also have expressed an interest with the Maloofs.
Any team wanting to relocate next season must apply in writing to NBA Commissioner David Stern by March 1.
The Maloofs reportedly are having financial troubles. The family owns the Palms Casino Resort in Las Vegas, where private investment firms are said to be negotiating for controlling interest in the hotel after the Maloofs violated a loan agreement.
A Sacramento radio station reported last week the Maloofs recently met with Ducks owner Henry Samueli to discuss bringing the Kings to Anaheim. If that potential deal doesn't work out, there's always Ellison — again
By John Rohde Oklahoman Published: January 22, 2011
http://newsok.com/hornets-kings-could-be-on-the-move/article/3534832
