Source: Hornets agree to sell club to NBA
NEW ORLEANS -- A person familiar with the decision says New Orleans Hornets owner George Shinn has agreed to sell the club to the NBA and that the transaction could be completed within a couple days.
The league has lined up Jac Sperling of the NHL's Minnesota Wild to be the NBA's administrator of the team and oversee its sale to a more permanent owner, the person told the Associated Press Sunday on condition of anonymity because the move has not been publicly announced.
The person says current Hornets President Hugh Weber will continue overseeing day-to-day operations of the first NBA team to be owned by the league.
Shinn has been trying to sell the Hornets to minority owner Gary Chouest since last spring, but those negotiations have stalled.