A solid choice for site headquarters if you ask me. The University of Southern Mississippi provides a nice, quiet and relaxing atmosphere - especially on football Saturdays. So is the Superdome as we all know for Tulane games, but according to SpongShinn, "The further away I am from the grandstanding likes of Grandadmiral and Harvey Hornet, the better." SpongShinn also cited something about the state of Louisiana not being big enough for him and the formidable COCajun, who has confirmed rumors that he is likely to relocate to the Baton Rouge area by Thanksgiving.
Originally posted by Grandadmiral
New Orleans, LA POMS News Service
The two has signed agreements dissolving the partnership that will take effect at midnight on June 26th. At that time a new partnership will be formed between Spongey and Hornets majority owner, George Shinn. The entity will be known as SpongShinn and will be headquartered under the entrance to USM's stadium. Spongey will have full control of the website with proceeds from using the Hornets' names and logos going to Shinn.
While both owners do confirm they have "broached the matter" with a Mister G. Admiral, they dodged questions over possible involvement in discussions with present Colorado resident COCajun, who allegedly has a net worth of $4.37 and has expressed a ready willingness to relocate to the Deep South should final negotiations with him and Hornets ownership materialize.
In other Hornets news, team owners George Shinn and Ray Wooldrige are rumored to be in talks with Grandadmiral to sell him 30% of the team's ownership. Grandadmiral is the indivdual who tried to purchase the rights to NOH.com but was turned down after a hefty legal battle. His net worth is now rumored to be bordering $4.25, more than enough to buy the entire state of Louisiana. NBA insiders say that the Hornets are willing to sell ownership of the team to Grandadmiral to prevent him from bringing an expansion team to the Cane River area. Grandadmiral was in preliminary talks with Avondale Shipyard to build a floating arena that would go up and down the river during home games.
Twenty-five of the 30% will come from Shinn's 65% percent ownership of the team, with the other 5% coming from Wooldridge. This would put the ownership split at Shinn-40%; Wooldridge-30%; Grandadmiral-30%.
"This is an exciting day for the team. Having local ownership will ensure that this team will be here for a very long time," stated New Orleans Mayor Ray Nagin. "I only wish I had that much money."
"We're all still in the negotiating stage right now," quoted a jubilant-looking Grandadmiral, "but I'm very optimistic. I feel good about the situation."