When David Stern vetoed the Chris Paul to LA trade, it really brought to light the need for an independent owner of the Hornets. The owner of the New Orleans Saints of the NFL picked up the tab.
Tom Benson brought stability to the Saints nearly three decades ago and now plans to do the same for the Hornets in small-market New Orleans.
The Saints’ owner agreed Friday to purchase the Hornets from the NBA.
“We expect this club to be one of the most outstanding clubs in the league, otherwise I don’t want to get involved,” Benson said. “This is just a good thing and I’m just glad to be a part of it.”
A person familiar with the deal says the purchase price is $338 million. The person spoke to The Associated Press on condition of anonymity because the financial terms have not been announced.
Source: Yahoo
