Who owns them?
The team is currently owned by the NBA. The NBA bought it from George Shinn, who created his fortune from higher education. He bought a number of small colleges and formed Rutledge Educational Systems, Inc in the 1980's, which he sold for $30 million. The Hornets became his primary interest when he bought the expansion team in Charlotte.
Does ownership own other teams and facilities?
Shinn co-owned the WNBA's Charlotte Sting until he moved the Hornets to New Orleans in 2002. He didn't take the Sting with him, and with an NBA expansion team awarded to Charlotte soon after, their owner, Robert Johnson bought the Sting. The Hornets don't own their arena either
How is ownership doing?
Well, it's hard to say how the NBA is doing with the Hornets. But for Shinn, things weren't working out well. Attendance has fluctuated and hasn't been where it should be with a superstar in Chris Paul and a team that has been competitive over the past several seasons, partly because this was in the post Katrina era, and possibly also because of Saints syndrome, since Drew Brees will always one up Paul no matter what.
Shinn was expected to sell to another owner earlier this year, but the deal fell through and the NBA bought the team because Shinn couldn't foot the bill for the team's debt...
Like the Grizzlies, the team is possibly a candidate for folding or relocating...
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