Hornets Business Council Forms to Keep Team in New Orleans

Summary

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A group of regional business leaders have come together in a formal effort to keep the New Orleans Hornets franchise in the city. Known as the Hornets Business Council, its leaders announced today its goal is to encourage large and small businesses in the area to become "financially committed" to the team.

The effort comes a week after the National Basketball Association bought the team from majority owner George Shinn and minority owner Gary Chouest. A deal for Shinn to sell his portion of the team to Chouest fell through, prompting the league to step in and make a reported $300 million purchase.

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Hornets Business Council Forms to Keep Team in New Orleans

If the team doesn't reach a per-game attendance average of 14,883 by Jan. 31, th...

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