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Monday, March 26, 2001
New ownership group set to be named
Associated Press
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CHARLOTTE, N.C. – A prominent banker is confident a sale
can be arranged that would keep the Charlotte Hornets from moving.
Hugh McColl Jr., chairman of BankAmerica, said a new ownership
group could be announced Monday. That is the deadline for the
team's owners to apply to the NBA for relocation. However, the
league could extend the deadline.
McColl and Charlotte Mayor Pat McCrory have endorsed new
ownership for the team. Current owners George Shinn and Ray
Wooldridge have indicated they would be open to offers if the price
is right.
"We are working on buying out Shinn and that other guy as
owners of the NBA franchise," McColl said Friday in a speech
before 200 people.
Wooldridge was out of town early Monday and unavailable for
comment. A team spokeswoman said there were no new announcements.
The Hornets and the city have been negotiating financing of a
new arena that the team says it needs. City voters are tentatively
scheduled to vote June 5 on a $352 million package that would
include the $215 million NBA arena.
The city council was expected to discuss other funding options
for an arena Monday night. Send this story to a friend | Most sent stories
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