Report: Shinn negotiating to sell Hornets
NEW ORLEANS -- A person familiar with the situation says New Orleans Hornets owner George Shinn is negotiating to sell his majority stake in the NBA club to minority owner and Louisiana native Gary Chouest.
Following Shinn's successful bout with prostate cancer, he wants to focus on charitable work aimed at promoting early diagnosis and treatment of cancer, the person told the Associated Press on Thursday, speaking on the condition of anonymity because no agreement has been signed.
Shinn, a 68-year-old self-made businessman who founded the Hornets in 1988, also hopes to write an autobiographical book and the person says money raised from Shinn's speaking engagements fundraising "will be given back to causes that serve the Lord."
Copyright 2010 by The Associated Press