George Shinn originally brought the franchise to North Carolina as an expansion team in 1988 for an initial fee of thirty-two million dollars. Over subsequent years, amid mounting financial pressures, legal troubles, and declining local attendance, Shinn began selling portions of his equity stake to various investors. When the team eventually faced severe financial instability and relocation rumors before moving to New Orleans, minority shares and subsequent franchise transfers shifted through complex valuations, ultimately leading to the league taking over operational control of the sale process before new ownership groups completely took over the operational rights.