Quick poll: Would you rather pay over $2 billion for a Los Angeles Dodgers franchise in turmoil, or pay $338 million for a New Orleans Hornets franchise in turmoil? I'm taking the Hornets. According to David Aldridge, the NBA has agreed to sell the Hornets to New Orleans Saints owner Tom Benson for $338 million, relieving David Stern of having to manage trades and expenditures for a team that has been headless for a while now. You know what they say in New Orleans: Kill the head and the body will die.
Tom Benson will be the franchise's much-needed head. Just last season the Hornets were a feisty playoff team, but this year they've fallen to the bottom of the NBA thanks to the Chris Paul trade and general depression. This deal works out for both sides; Benson solidifies his grip on New Orleans sports, and the NBA makes a cool $28 million, two-year profit (the league bought the team in 2010 for $310 million, though at least one report has the purchase price at $318M, with an additional $20M investment. Still, I'm skeptical of Rovell).
Hopefully Benson can help turn around the franchise, though it will take more than a few draft picks to replace Chris Paul.
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[David Aldridge]
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