Youngman article "pie in the sky"

[Trueblood]

The Hornets have minority owners too. The league only owns the majority share.

Not anymore. Ray Woolridge used to be the minority partner of George Shinn but he got completely bought out. Good move on his part as it was before Katrina hit but nevertheless, Shinn was still 100% owner and when he sold to the league, they became 100% owners.

 

[Section 101]

Not anymore. Ray Woolridge used to be the minority partner of George Shinn but he got completely bought out. Good move on his part as it was before Katrina hit but nevertheless, Shinn was still 100% owner and when he sold to the league, they became 100% owners.

Wrong.

http://www.nba.com/2010/news/12/05/hornets.sale.ap/index.html

Shinn has been in negotiations to sell the team to minority owner and Louisiana native Gary Chouest since last spring, but talks have been stalled for months.

Chouest, who owns 35 percent of the team, runs a business that supplies vessels to the gulf oil industry. Recently, he has become concerned about his ability to run his family business while taking over the Hornets, said the person who confirmed the NBA's planned purchase of the club.