Outgoing Hornets minority owner Gary Chouest remains as interested in keeping the franchise in New Orleans as he was when he first invested in the team.

"As far as my future involvement, the purpose hasn't changed as to why I invested from Day 1," Chouest said. "The same situation still exists and the same reasoning for continuing to support the team still exists."

NBA commissioner David Stern announced on Monday that the league is purchasing 100 percent of the team, pending anticipated approval by the league's board of governors.

A Louisiana native whose company supplies vessels to the offshore energy industry, Chouest bought 25 percent of the Hornets when the club returned to New Orleans in 2007 following a two-season stint in Oklahoma City.

Last spring, Chouest neared a deal to take full control, but negotiations with majority owner George Shinn stalled.