Tom Benson to buy Hornets

[Darth_Pelican]

Tom Benson is expected to be the new owner of the New Orleans Hornets

Published: Friday, April 13, 2012, 8:43 AM Updated: Friday, April 13, 2012, 9:11 AM

http://media.nola.com/avatars/2499.png (http://connect.nola.com/user/jssmith/index.html)By Jimmy Smith, The Times-Picayune (http://connect.nola.com/user/jssmith/index.html)The Times-Picayune
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New York -- Tom Benson, who has owned the New Orleans Saints since 1985, could o his sports empire today, if the NBA Board of Governors approves the sale of the league-owned New Orleans Hornets to Benson today.
http://media.nola.com/hornets_impact/photo/10832347-large.jpgMichael DeMocker, The Times-PicayuneFormer New Orleans Hornets owner

George Shinn and Tom Benson are all smiles after a Hornets game at the New Orleans Arena in 2008.
The Board of Governors is currently meeting at the St. Regis Hotel, apparently mulling offers from Benson and a group headed by California swimwear manufacturerRaj Bhathal and former minority owner Gary Chouest.
Benson initially put in a bid for the franchise earlier this year, but later backed away because of the asking price.
Bhathal and Chouest bid individually and recently combined their efforts. They were in New York on Monday meeting with NBA officials concerning the negotiations; Benson spoke with league officials that day but was not in New York.

[Trainwreck2100]

sounds like he's trying to lowball the nba

[manufan10]

David Aldridge @daldridgetnt 5m
Hornets to be sold for $338M to Saints owner Tom Benson, per source. Story up soon on NBA.com.

[Darth_Pelican]

Announcement that Tom Benson is the new owner of the New Orleans Hornets will come this afternoon

Published: Friday, April 13, 2012, 10:20 AM Updated: Friday, April 13, 2012, 10:23 AM

http://media.nola.com/avatars/2499.png (http://connect.nola.com/user/jssmith/index.html)By Jimmy Smith, The Times-Picayune (http://connect.nola.com/user/jssmith/index.html)The Times-Picayune

New York -- New Orleans Saints owner Tom Benson will be announced as the owner of the New Orleans Hornets this afternoon, according to sources.

http://media.nola.com/hornets_impact/photo/10832670-large.jpgEliot Kamenitz/The Times-PicayuneNew Orleans Saints owner

Tom Benson has purchased the New Orleans Hornets.
Benson will own 100 percent of the team.
The purchase price has not been announced, but it is expected to be in the neighborhood of $340 million.
Benson initially bid for the team in January but walked away.
He re-emerged about two weeks ago as a potential buyer.

[urunobili]

Where are they headed next? Seattle?

[MR.SILVER&BLack]

anyone think a nba team could survive in Las Vegas?

[JamStone]

Where are they headed next? Seattle?

Why would Benson move them? Seems like that was part of the point of him buying them, to keep them in New Orleans. Benson was born and raised in N.O. and all of his businesses are in the New Orleans area. He'll keep the Hornets there too.

And I'm sure Sean Payton will be excited to coach Jason Smith.

[jeebus]

Fuck his shitty car dealerships.

[baseline bum]

Benson's not going to be able to use San Antonio as leverage for a welfare check from the state this time though. SMH at this purchase.

[TDMVPDPOY]

no way the NOH is worth 340m man...thats fkn bullshit

he shouldve just bought some soccer club in europe and fill it out with germanys nt players comes out cheaper then NOH

[DJB]

And I'm sure Sean Payton will be excited to coach Jason Smith.

:lol

[ElNono]

Congrats! :toast

[Sportcamper]

That is just great...How soon until there is a bounty on Kobe Bryant?:bang

[baseline bum]

That is just great...How soon until there is a bounty on Andrew Bynum?:bang

fify

[BRHornet45]

great news

[BRHornet45]

no way the NOH is worth 340m man...thats fkn bullshit

he shouldve just bought some soccer club in europe and fill it out with germanys nt players comes out cheaper then NOH

yet even in a shitty season like this one the Hornets have still generated more revenue than -

Atlanta
Memphis
Charlotte
Milwaukee
Sacramento
Detroit
Indiana
New Jersey

and have had better attendance (thus far) than -

Milwaukee
Detroit
Sacramento
Indiana
New Jersey

and all of those teams above are playing in much larger markets with better teams on the floor (other than Charlotte) this season. I don't mind smack talk because you hate New Orleans, but at least don't spew pure ignorance with idiotic comments like that.

[Gutter92]

yet even in a shitty season like this one the Hornets have still generated more revenue than -

Atlanta
Memphis
Charlotte
Milwaukee
Sacramento
Detroit
Indiana
New Jersey

and have had better attendance (thus far) than -

Milwaukee
Detroit
Sacramento
Indiana
New Jersey

and all of those teams above are playing in much larger markets with better teams on the floor (other than Charlotte) this season. I don't mind smack talk because you hate New Orleans, but at least don't spew pure ignorance with idiotic comments like that.

BR with the goods, god bless

[Slomo]

no way the NOH is worth 340m man...thats fkn bullshit

he shouldve just bought some soccer club in europe and fill it out with germanys nt players comes out cheaper then NOH

The profit/return on investment of EU soccer clubs are not nearly as high as with an NBA franchise.

[fevertrees]

At least when the Hornets were winning the bandwagoners would fill the arena... Hotlanta and Indiana fans have no excuses!

[LkrFan]

fify

:lol

[Darth_Pelican]

Where are they headed next? Seattle?

The Hornets already signed a lease extension to remain in New Orleans through 2024. Plus Benson would never want to move the team.


no way the NOH is worth 340m man...thats fkn bullshit

he shouldve just bought some soccer club in europe and fill it out with germanys nt players comes out cheaper then NOH

Benson is an 84 year old billionaire. I doubt he cares if he overpaid by a few million. I'm sure he won't run out of money before he dies. The Hornets will just be his new hobby during Saints offseason.

Lol soccer

[Pelicans78]

Today's announcement was a big :flipoff to all the haters.

[lefty]

Bump

[Darth_Pelican]

Stern: "Buy the Hornets, and I'll make sure you get the #1 pick"

Benson: "Deal"

http://www.ngngsports.com/wp-content/uploads/2012/04/stern-benson.jpg

:lmao

[Pelicans78]

Benson did pay an extra 40 million than what the team was sold for. Money well spent.