13 April 2012

New Orleans Hornets purchased by Saints owner Tom Benson

Breaking news out of New Orleans as it appears that Saints owner Tom Benson has agreed to purchase the New Orleans Hornets for $338 million. And this means that the Hornets, who have been owned by the NBA since December 2010 when they were purchased by the league for $318 million from former owner George Shinn, are set to stay in New Orleans for the long haul, even though that was pretty much set in stone a month ago when the team and the state of Louisiana agreed to keep the team in New Orleans until at least 2024 in exchange for the state to pay for improvements to New Orleans Arena, where the Hornets play. This is a major story and it appears that finally the Hornets have some financial stability down in the Big Easy. And what is ironic of the purchase is several years ago after Hurricane Katrina, it was reported that Benson was looking to relocate the Saints permanently to San Antonio, which looked bad as the Hornets were set to return to New Orleans even after playing games in Oklahoma City. But the promise of a bright future is set in stone for the fans of the Hornets and that is always a good thing.

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