George Shinn

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For the fictional character, see The Music Man.

George Shinn
Born (1941-05-11) May 11, 1941 (age 83)
Kannapolis, North Carolina, U.S.
NationalityAmerican
Known forformer owner of the Charlotte / New Orleans Hornets
SpouseMegan

George Shinn (born May 11, 1941) is an American businessman. He is the former owner of the

World League of American Football. He purchased the Hornets for $32.5 million in 1987.[1] In 1997, he lost his bid for a potential National Hockey League (NHL) expansion franchise to be called the Hampton Roads Rhinos.[2]

Early life and education

Shinn was born in

A. L. Brown High School.[citation needed
]

Career

Shinn worked in a

textile mill, a car wash, and as a school janitor. He later attended Evans Business College in Concord, North Carolina while working with real estate and car dealerships. Upon graduating, he raised enough money to buy Evans and other small colleges that offered 18-24 month programs, consolidating them all under the umbrella company Rutledge Education Systems. He sold the schools and bought the basketball team with the proceeds.[3]

The George Shinn Foundation was founded in 1973.

Tabarre, Haiti. In 2012, the George Shinn Foundation was able to provide funding to complete a multi-story medical clinic, which will provide medical care to the community surrounding the Amer-Haitian Bon Zami House of Hope. Hoops for Homes was created by the Shinn Foundation directly following Hurricane Katrina to rebuild homes in the New Orleans community. The project provided funding and repairs for more than 65 homes. George Shinn partnered with Nashville non-profit, Room In the Inn, and donated more than 60 pairs of shoes during the 2012 holiday season
. Room In the Inn is a ministry serving the homeless. Most recently and as a continuation of his service to his faith, Shiin purchased the Cornerstone Bookstore in Boone, NC. to help preserve a local tradition and keeping a community icon in Business

Megan Shinn, George's wife, serves as the Foundation's president.

Awards and honors

Writings

Shinn is the author of half a dozen books including The Miracle of Motivation, The American Dream Still Works, and You Gotta Believe! The Story of the Charlotte Hornets.[5]

Sexual assault trial and departure of team to New Orleans

Shinn was accused of kidnapping and sexually assaulting a Charlotte woman.[6] A jury rejected the claims at trial in December 1999, but Shinn admitted in court to having two sexual relationships outside of his marriage, which damaged his reputation. The trial was broadcast nationwide on Court TV and drew some of the cable network's highest ratings at the time.[7]

The trial and his subsequent tarnished reputation was one of the key reasons for the move from Charlotte to New Orleans.[8]

Hornets buyout

In April 2010, Shinn started considering selling his majority share of the Hornets to Gary Chouest, who had bought 25% of the team.[9] The negotiations stalled due to the team's financial issues.[10] Because Shinn was not in a financial position to continue to run the team, the NBA was expected to purchase and run the team while looking for a local owner.[11] The NBA completed its purchase of the Hornets from George Shinn and Gary Chouest in December 2010 for an estimated $300 million.[12]

Personal life

Shinn is married to Megan Shinn and has three children from his first marriage. One of his children is

Unified Theory
and his own solo albums.

In November 2009 Shinn announced he had

Hornets' inaugural season.[13]

Although Shinn later relinquished control of the Hornets and retired, he is still hated in Charlotte for moving the team to New Orleans. Shinn has not returned to Charlotte since the Hornets left for New Orleans in 2002. In a 2008 interview with The Charlotte Observer, Shinn admitted that the drama over his personal life was a factor in the Hornets leaving town. He also said that if he had it to do all over again, he would not have withdrawn from public view as he did after the sexual assault trial.[7]

Net worth

In 2010 the former New Orleans Hornets owner had an estimated net worth of $100 million.[14]

References

  1. Businessweek. November 21, 2005. Archived from the original
    on August 29, 2006. Retrieved July 26, 2010.
  2. highbeam.com
    .
  3. ^ THE RISE AND FALL OF GEORGE SHINN AND THE HORNETS
  4. NBA.com. 2012. Archived from the original
    on June 5, 2012.
  5. ^ "Shameless Hornet: George Shinn". ESPN. November 21, 2005.
  6. ^ Cagan, Joanna (December 1, 1998). "Billionaire Boys Club". The Village Voice. Retrieved July 26, 2010.
  7. ^ a b Green, Ron (November 2, 2008). "Shinn: I messed up in Charlotte". The Charlotte Observer. Archived from the original on June 3, 2012. Retrieved July 26, 2010.
  8. ^ "Charlotte Hornets (1988-2002)". Sportsecyclopedia.com. Retrieved July 26, 2010.
  9. The Times-Picayune
    . Retrieved September 13, 2012.
  10. ^ Helin, Kurt (December 10, 2010). "Gary Chouest wants to keep Hornets in New Orleans, so long as he doesn't have to buy team". NBC Sports.
  11. ^ Stein, Marc (December 5, 2010). "Sources: NBA set to take over Hornets". ESPN. Retrieved December 6, 2010.
  12. NBA.com. December 20, 2010. Archived from the original
    on December 26, 2010. Retrieved December 20, 2010.
  13. ISBN 0-915611-82-1
    . Shinn had suffered a stroke early in the first season and was essentially incapacitated for several months.
  14. ^ "NBA Owners – George Shinn". HoopsHype. Archived from the original on November 26, 2010. Retrieved July 26, 2010.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=George_Shinn&oldid=1216592930"