The Hornets are in the process of being sold. George Shinn is selling his majority stake in the team to Gary Chouest, a current minority owner and local businessman with (supposedly) deep pockets. Shinn was never the sprendthrift owner he has recently been made out to be, but the Hornets's problem was not an unwillingness to spend. Instead, their problem has been has been an inability to spend very well. Handicapped by
Peja Stojakovic's spectacular salary and the overpayment of backups such as Peterson and
James Posey, the Hornets have been making their team worse in a bid to avoid the luxury tax. They just about managed this last year, but only by taking on the salary of
Darius Songaila in
a rousing crescendo of fail.
[...]
Filling out the remaining spots on that roster will again put the team back into tax territory. But things are manageable by then. Darius Songaila could always be pawned off for a slightly smaller expiring salary, or for a longer one of a decent player. The same is true of Peja; now that he's finally expiring, he's finally an asset and not a burden.