Saints Owner Tom Benson Purchases Hornets
- Updated: April 13, 2012
The NBA-owned New Orleans Hornets have been sold to Saints owner Tom Benson for a price sources said is $338 million.
Benson is the sole owner and no partners are involved.
“I’m not too good with partners,” Benson said.
Benson, who initially bid to purchase the team in January but was put off by the league’s asking price, said Friday he was worried that other absentee ownership groups might attempt to move the team out of the city, despite a new lease agreement that will bind the Hornets to New Orleans Arena through the 2024 season.
One of the bidding groups, headed by California swimwear manufacturer Raj Bhathal, included Benson’s youngest brother, Larry, a San Antonio automobile dealer.
“We really never stopped talking to them (the NBA). With out of state owners. . . . I called David (Stern, NBA commissioner) and said, ‘Look I’m the only guy you can count on who’s really going to stay here. Let’s work this thing out.’ ”
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