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Minority owner Gary Chouse (he owns 35 percent of the team) wants to buy them....but. Though there was an agreement in place for that to happen back in May, it still hasn't happened. Chouset, hasn't spoken to anyone, much less the media, so we don't know why.
Read a pretty good summary from NOLA.com RIGHT HERE
The team, can opt of their lease if attendance doesn't average 14,735 fans per game by the end of January. They aren't on pace for that.
For their part. The NBA hasn't commented publicly as to what they intend to do, but the belief by most is they'll step in because they desperately want the team to stay in New Orleans. Remember, this is the team that started their lives in Charlotte, but moved when Shinn didn't want to stay there after having some "issues".
It sure sounds like the league will have to take over. The question is..."Will they have anymore luck finding a buyer?". Maybe. Nobody knows. This hasn't happened before.
**UPDATE MONDAY AFTERNOON**--The NBA announced today that they are going to buy the team for somewhere around $300 million. We assume they will try and flip it to another owner since Chouse has indicated he won't be buying the team.
Here are the Hornets, knocking off the team we all love to hate, the Miami Heat. Thanks YouTube: