Page last updated on Mon Mar 30 05:24:08 EDT 2015
Wed, 18 Apr 2012 05:33 PM EDT

Tom Benson brought assurance to the Saints nearly 30 years ago and now plans to do the same for the Hornets in small-market New Orleans. Football scores

“We anticipate this club to be one of the most notable clubs in the league, otherwise I don’t want to get involved,” Benson said. “This is merely a good thing and I’m just happy to be a part of it.”

A person familiar with the deal says the price is $338 million. The individual spoke on condition of anonymity as the financial terms haven’t been announced. NFL scores

The NBA has been trying to sell the Hornets since purchasing the club from founder George Shinn in December 2010. While preparing the team for sale the league arranged a new lease for the Hornets to remain in the state-owned New Orleans Arena thru 2024.

“The city is among the country’s treasures and we really have found the perfect owner,” Commissioner David Stern said. “Our goal all along has been to get the Hornets bought by someone whose dedication to New Orleans would be unrivaled.”

The framework of ownership negotiations were handled in a way that a new Hornets proprietor would have to take the lease worked out between the NBA and Gov. Bobby Jindal. The lease contract also requested $50 million in enhancements to the basketball stadium, which sits right across the way from the Superdome.

Once the NBA accepts the sale of the team to Benson, the step after that is for the state legislature to confirm the arena lease deal due to the funding needed for stadium enhancements. But legislative leaders already have publicly said support for the suggested lease contract, which would become effective in July.

The 84-year-old Benson, a New Orleans-native, has owned the Saints since 1985, when he stepped in to block efforts from other prospective financiers to move the NFL organization to Jacksonville, Florida. Now Benson has made another major investment to stabilize the NBA’s presence in the Big Easy on the same day that the Hornets were hosting the Utah Jazz, the team New Orleans lost to relocation in 1979.

Benson helped bring the Saints their 1st playoff appearance in 1987 and ultimately a super Bowl title in 2010. His ownership of the Hornets means the 2 small-market franchises both will be local run and now can work as partners in their efforts to attract company sponsorships, and Hornets fans can at least hope that may translate into a better product on the hardwood.

While the Saints have now become a valued institution which has become entrenched in the local culture since the club’s founding in 1967, the Hornets are relatively new to Louisiana’s pro sports landscape.

Former owner Shinn made a decision to pull out in 2010. He was incapable of finding a buyer who would dedicate to keeping the team in New Orleans, so that the NBA took the extraordinary step of taking ownership of the team and has been working to find a new permanent local owner for a year and a half.

Sponsored Links

Download Printable Schedules
Now you can download and print schedules for each sport so you can plan ahead and track your results.
BASKETBALL 3/10/2015 - 4/15/2015
2/10/2015 - 3/9/2015
HOCKEY 3/10/2015 - 4/11/2015
2/10/2015 - 3/9/2015
RK Team
Houston Rockets
Ul Monroe
Toronto Raptors
Loyola Chicago
Boston Celtics
NBACeltics vs Hornets4:05 PM PST
NBALakers vs 76ers4:05 PM PST
NHLLightning at Canadiens4:30 PM PST
NBABucks vs Hawks4:35 PM PST
NBARockets vs Raptors4:35 PM PST
NHLCanucks at Blues5:00 PM PST
NBAKings vs Grizzlies5:05 PM PST
NBAJazz vs Timberwolves5:05 PM PST
NHLKings at Blackhawks5:30 PM PST
NHLFlames at Stars5:30 PM PST
NHLOilers at Avalanche6:00 PM PST
NHLSabres at Coyotes7:00 PM PST
NBASuns vs Trail Blazers7:05 PM PST
NHLPanthers at Bruins4:00 PM PST
NHLHurricanes at Capitals4:00 PM PST
NHLDevils at Blue Jackets4:00 PM PST
NHLLightning at Maple Leafs4:30 PM PST
NHLSenators at Red Wings4:30 PM PST
NHLCanucks at Predators5:00 PM PST
NHLRangers at Jets5:00 PM PST
NHLMaple Leafs at Sabres4:30 PM PST
NHLFlyers at Penguins5:00 PM PST
NHLOilers at Ducks7:00 PM PST
NHLAvalanche at Sharks7:30 PM PST
NHLIslanders at Blue Jackets4:00 PM PST
NHLCapitals at Canadiens4:30 PM PST
NHLLightning at Senators4:30 PM PST
NHLBruins at Red Wings4:30 PM PST
NHLHurricanes at Panthers4:30 PM PST
NHLFlames at Blues5:00 PM PST
NHLRangers at Wild5:00 PM PST
NHLCanucks at Blackhawks5:30 PM PST
NHLOilers at Kings7:30 PM PST
NHLBlackhawks at Sabres4:00 PM PST
NHLCanadiens at Devils4:00 PM PST
NHLBlues at Stars5:30 PM PST
NHLAvalanche at Ducks7:00 PM PST
NHLCoyotes at Sharks7:00 PM PST
UFCL Murphy vs L Carmouche08:00 AM PST
UFCA Yakovlev vs G Maynard08:00 AM PST
UFCT Johnson vs S Abdurahimov08:00 AM PST
UFCJ Jones vs R Stallings08:00 AM PST
UFCR Lamas vs C Mendes10:00 AM PST
UFCA Iaquinta vs J Masvidal10:00 AM PST
UFCM Clarke vs M Chiesa10:00 AM PST
UFCM Dudieva vs J Pena10:00 AM PST
UFCR Peralta vs C Guida10:00 AM PST
UFCD Ferreira vs D Poirier10:00 AM PST
NHLFlyers at Hurricanes10:00 AM PST
NHLPenguins at Blue Jackets11:00 AM PST
NHLCanucks at Jets12:00 PM PST
NHLMaple Leafs at Bruins4:00 PM PST
NHLCapitals at Senators4:00 PM PST
NHLLightning at Panthers4:00 PM PST
NHLSabres at Islanders4:00 PM PST
NHLDevils at Rangers4:00 PM PST
NHLWings at Wild4:00 PM PST
NHLStarts at Predators5:00 PM PST
NHLSharks at Coyotes6:00 PM PST
NHLFlames at Oilers7:00 PM PST
NHLAvalanche at Kings7:00 PM PST