New Orleans Saints owner Tom Benson has decided to expand his influence in the Big Easy, agreeing Friday to purchase the New Orleans Hornets from the NBA for $338 million. The move is pending the approval of the league’s Board of Governors.
“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.”
Benson has owned the Saints since 1985, and his franchise secured their first playoff appearance in 1987. Undoubtedly, the high point of Benson’s ownership was their victory in Super Bowl 44 over Peyton Manning and the Indianapolis Colts.
The NBA has owned the Hornets since December 2010, when club founder George Shinn sold the team for an estimated $300 million. The league had negotiated a new lease for the Hornets to continue to play in New Orleans Arena — which is owned by the state of Louisiana — until 2024. The lease also calls for $50 million to be...
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April 13, 2012
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