Update: ESPN is reporting that New Orleans Hornets majority owner George Shinn has agreed to sell his majority stake in the team to minority owner Gary Chouest. The club is planning an announcement Wednesday afternoon. Shinn, who was recently treated for prostate cancer, decided to sell his share during the season.
Fantasy Impact: In December, Forbes Magazine estimated that the Hornets are worth $285 million. The Hornets fell out of the playoff race late in the season.