NBA owners approve team for Charlotte in 2004-2005

CHARLOTTE, N.C. (AP) -- NBA owners have approved an agreement with Charlotte for an expansion team that could begin play in a new arena in 2004-05, The Charlotte Observer reported today.
The Hornets left Charlotte for New Orleans during the off-season after owners George Shinn and Ray Wooldridge failed to secure an agreement on an arena to replace the Charlotte Coliseum.
NBA deputy commissioner Russ Granik told The Observer on Thursday that owners gave their approval at a meeting Oct. 8.
City Council members are expected to vote on the 36-page document Nov. 11. If the city OKs the agreement, only a few major steps remain before the NBA's return to Charlotte is finalized.
"All the big parameters are done," Charlotte city attorney Mac McCarley said. "We're at the details now."
Under the deal, the NBA would choose owners and award the franchise by Jan. 12, when the city and league are scheduled to approve a final contract.