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 According to Jimmy Smith of The Times-Picayune, New Orleans Hornets owner George Shinn says that the team's offseason addition of center Emeka Okafor is evidence that the team's financial status will not be a problem in the near future.
The Hornets acquired Okafor by trading Tyson Chandler this offseason. Chandler, this season, is set to make a whopping $11.8 million this season and can possibly make over $12 million two years from now.
Even though Okafor has averaged a double-double every season in his career, the Hornets will end up paying more money than they would have for Chandler because of the length of Okafor's contract, which doesn't end until the 2013-14 season.
The former #2 overall pick will make $10.5 million next season, which is part of his 6-year, $72 million dollar deal.
Even though Shinn's franchise is above the luxury tax, the Hornets owner has indicated that the team will not sacrifice talented players and big contracts to get back under.
"We've been committed all along to get better and we won't change that. We'll do everything we can to become a better basketball team because we want to get better every year."
The Hornet's mission this offseason was to get younger and dump salary. Though Okafor's deal is expensive, the team has made strides in both of these departments by trading forward Rasul Butler to the Clippers in the offseason. The 30-year-old Butler was due to earn around $4 million dollars next season.
The team is also looking for 2009 draft picks Darren Collinson and Marcus Thornton to make instant impact in their first few seasons. Former first-rounder Julian Wright will also have an expanded role with the team in his upcoming forth season with the Hornets.
Shinn has said that in the past that the team's young players have not played to their full potential partially due to mistakes made by the franchise, including head coach Byron Scott and GM Jeff Bower.
This is evident with players like former Dallas Maverick Brandon Bass, who signed a 4-year, $18 million deal with the Orlando Magic this summer, and Denver Nuggets sharp shooting guard J.R. Smith. Both of these players are former Hornets, but then were traded to where they eventually became more productive players than they were with the Hornets.
Shinn says that the team will try to limit any more mistakes in developing talent in the future.
Despite being criticized by not making any moves in the beginning of the offseason, the Hornets have other issues to deal with such as the team's survival in the city of New Orleans, the happiness of superstar point guard Chris Paul and a stacked Western Conference.
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Carter Bryant is a staff member of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey.
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