The Hornets’ boss is the league, just like the Bobcats’ boss is Jordan. Of course, the boss has veto power.

On December 21, 2010, Beijing time, according to the Associated Press, the NBA has completed the acquisition of the New Orleans Hornets, marking the official birth of the first team officially controlled by the league.

Since last spring, Hornets boss Sheehan has been trying to sell 65% of the team's shares to minority shareholder Horst. However, Horst had no intention of taking over, but the negotiations between the two parties were unsuccessful. On December 6, local time, NBA President David Stern stated that the league intends to acquire the team shares held by Sheen and Horst.

On Monday local time, the NBA officially announced that the league's Board of Governors had approved the acquisition request. In fact, the league's taking over the custody of the Hornets is also a temporary move. After all, it must ensure the stability of the league's events and the team.

Stern said the Hornets' market value is about $300 million, and said the league will continue to look for new buyers and it is best to keep the Hornets in New Orleans. The Hornets were founded in Charlotte in 1988 and moved to New Orleans by Sheehan in 2002.

According to official reports from the Associated Press, New Orleans Hornets owner George Sheehan is unable to continue due to illness. Under the condition of operating the team, they agreed to sell the team to NBA officials. If the acquisition is successful, the Hornets will become the first team in history to be managed by the league. The purpose of the league's move is to help the Hornets find a reliable buyer and keep the team in New Orleans.

The arena is full of people

So far this season, the Hornets have started with 13 wins and 7 losses, ranking third in the Southwest Division with a 65% winning rate. However, the attendance rate of the arena is not ideal, with an average of only 13,865 spectators per game, leaving 3,000 empty seats in the New Orleans Arena. According to regulations, if the game ends from December 1st, local time, to January 17th next year, the number of seats in between will If the average attendance of these 13 home games cannot reach 14,213 people, the New Orleans Arena rental contract will be terminated early by the state government, and the Hornets will face the embarrassing situation of having no arena available.

The owner is unable to operate

The 69-year-old Hornets owner Sean was diagnosed with prostate cancer last year. Therefore, he decided to give up the ownership of the Hornets. But so far, the successor has not been found. Gary Jost, the majority shareholder who owns 35% of the team's shares, was originally a potential buyer and was very interested in becoming the next owner. However, due to the oil spill in the Gulf of Mexico, he had no time to consider acquiring the team at this time.

There will be no "moving" in the future

After officially taking over the Hornets, the league will appoint Jakes, a well-known local sports lawyer in New Orleans who is also the vice president of the NHL's Minnesota Vikings. Palin came to temporarily take charge of the team. The league would then start looking for a reliable owner and then sell the team to him. According to sources within the league, current Hornets chairman Hugh Weber will still take care of the daily affairs of the Hornets. Moreover, Hue Weber emphasized that the team does not plan to move at present: "We all know that New Orleans can afford a team. We have all witnessed this."

August 28, 2005, Superstorm Katrina devastated the city of New Orleans. At that time, the players and owners of the Hornets vowed that they would return to New Orleans. Later, they moved their home court back to New Orleans in a very high-profile manner in March 2006. The Hornets were also given the title "New Orleans" by the NBA. The "city spirit" selling point of "will not fall". But now, the NBA is preparing to take away this "spirit" - because the city of New Orleans is not collecting money, and because New Orleans people can't fill the basketball stadium.

From the initial boasting to the current indifference, many fans lamented on the Internet yesterday, "The NBA is the NBA, and in the end, business is just a business."

What a shame. Debt

The interest on the debt is US$8.9 million a year

On the 7th, NBA President David Stern announced that the league would acquire the managed Hornets, which was an unprecedented first in NBA history. Second-rate. The reason is that the attendance rate at the Hornets' home court cannot reach the NBA's minimum passing line, and the team has also suffered continuous losses. The Hornets' current debt is as high as 111 million U.S. dollars, and one year's interest is 8.9 million U.S. dollars.

Previously, Hornets owner Sean wanted to sell the Hornets. There was originally a small owner in the oil business who was ready to take over, but was messed up by the BP crude oil spill in the United States. In order to prevent the situation from getting out of control, the NBA decided to host the team and then slowly find the next buyer.

The NBA has an agreement with the Louisiana state government where New Orleans is located. If the average attendance rate per game cannot reach 83% (approximately 16,400 seats in the New Orleans Arena), it has the right to relocate the team elsewhere. . Since the start of this season, the Hornets' attendance rate is only about 80% when they have 10 wins and 1 loss. Coupled with serious losses, the NBA has thought about moving.

The owner makes money

Took away 35 million US dollars in 5 years

In fact, last month there was news that the Hornets owner wanted to sell the team and the attendance rate was not up to standard. It has already come out, but what is strange is that the number of spectators in the Hornets' two home games since then was still only 10,866 and 14,020. The reason is that after the hurricane, the population of New Orleans dropped by 60%, from at least 190,000 people to 380,000 people now. In terms of the total population, New Orleans people should be one of the most enthusiastic about going to watch the NBA.

The fact that the Hornets have reached this point has the most to do with boss Sean. A detailed financial audit report shows that the Hornets' home ticket revenue increased by more than $13 million last year even though the playoff performance was not as good as the previous season. Why are recovering teams forced into a desperate situation? After Sean became the Hornets' largest shareholder in 2005, he took at least $35 million from the team.

It is the best outcome for the Hornets to stay in New Orleans, but if there is still only "spirit" and no money here, the NBA has also arranged the next home for the Hornets - Kansas City.

There is an advanced stadium completed in 2007 in Kansas City, 1,300 kilometers away. Will it be the Hornets' new nest?