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Old 12-01-2010, 02:13 PM   #1 (permalink)
jeffb
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Hornets Hornets could relocate

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If the Hornets do not average crowds of at least 14,213 for the next 13 games at the New Orleans Arena, the franchise can opt out of its current lease agreement with the state, according to Doug Thornton, vice president of SMG, the company that manages the Arena and the Superdome.

The Hornets and the state amended their lease agreement in 2007 to extend it through 2014, but an attendance benchmark of 14,735 was implemented. The franchise can opt out of the pact if the benchmark is not made over a period of two consecutive years during the agreement.

If the Hornets fail to reach the 14,735 benchmark average, they would be free to relocate but would have to pay the state a $10 million exit penalty. They also would have to inform the state of their intention no later than March 1, 2011.
Apparently, the attendance benchmark is back on the table for the New Orleans Hornets | NOLA.com
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