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Olympiakos Close To Signing Pargo?
According to website eurobasket.com, Olympiakos is closer than ever to sign the Pargo. Read the Full Story Discuss Send Feedback Buy Tickets Hornets To Make Announcement On Local Investor
One of the men is Gary Chouest, owner of a Galliano offshore supply company, said a source who works in the NBA and did not want to be identified prior to a scheduled formal announcement on Tuesday night. Chouest owns Edison Chouest Offshore, whose boats and barges ferry supplies and people to offshore oil and gas rigs and platforms. Shinn has been seeking investors to reduce a large debt from buying out former minority partner Ray Wooldridge in January 2005, and he has said hoped selling to local investors would prove to fans and potential sponsors that he was serious about trying to make the Hornets' return to New Orleans a long and successful one. According to recent surveys by Forbes magazine, the Hornets are worth around $248 million, meaning a one-quarter share would run around $62 million. Read the Full Story Discuss Send Feedback Buy Tickets Morris Peterson Signs With New Orleans
"Morris was our top free agent target this summer, so this is an exciting day for the team and our fans," Hornets general manager Jeff Bower said in a statement. "He is a reliable veteran scorer who can stretch the defense with his 3-point range, which is exactly the role we were looking to fill." New Orleans Hornets, Toronto Raptors Read the Full Story Discuss Send Feedback Buy Tickets Hornets Jul 2007 Archive
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The Hornets would like to re-sign Jannero Pargo, but he is drawing interest from Europe.
New Orleans Hornets owner George Shinn has agreed to sell 25 percent of his NBA franchise to two investors with ties to Louisiana.
Free agent guard Morris Peterson signed with the Hornets on Monday, joining New Orleans after playing the first seven years of his career with Toronto.