Monday, August 27, 2007
Marketing the Hornets in New Orleans
Given the economic devastation in post-Katrina New Orleans, it's no surprise that demand for professional sports has fallen. This story in the Times-Picayune discusses the efforts of the Hornets to make a go of it there. The salient facts: ten game packages are being marketed for as little as $10 a game. North Carolinian city-shopper George Shinn sold 25% of the team to a Lousiana "barge and vessel tycoon" for $64 million. Shinn and said tycoon, Gary Chouest, are in negotiations with the state over subsidy terms, which currently pays the team up to $6 million per year.
These moves by Chouest and Shinn appear to make sense. But marketing, local ownership, and local subsidies can only take a team so far. As Gary Roberts states in the article, the Hornets survival in New Orleans requires "a miraculous economic rebirth."
These moves by Chouest and Shinn appear to make sense. But marketing, local ownership, and local subsidies can only take a team so far. As Gary Roberts states in the article, the Hornets survival in New Orleans requires "a miraculous economic rebirth."
