A Charlotte businessman who is eyeing the bankrupt PTL ministry's Christian theme park for a professional sports complex wants a judge to set the price.
George Shinn, primary owner of the NBA Charlotte Hornets and the minor-league baseball Knights, is negotiating a plan to buy PTL's 2,200 acres just across the line in South Carolina.The plan would have to be approved by Bankruptcy Court Judge Rufus Reynolds.
"I'm going to get him to make some recommendations," Shinn said Friday. "It would be embarrassing to me if I put forward a proposal and the judge turned it down."
Reynolds has ordered PTL, which hit the financial skids after founder Jim Bakker resigned last year amid a sex and money scandal, to prepare a plan to liquidate its assets. The ministry owes up to $130 million to creditors.
Shinn would like to locate a new baseball park and training facilities for the Hornets at the Heritage USA site. Shinn has repeatedly sought major league baseball and NFL franchises in the past.
"If I was thinking minor league sports, I wouldn't be doing this," Shinn told the Charlotte Observer. "If I wasn't thinking major league, this is insane."