Posted Jun 15 2012 7:28PM
NEW ORLEANS (AP) -- Saints owner Tom Benson has officially gained control of the New Orleans Hornets from the NBA.
The completion Friday of the $338 million sale of the NBA club comes two days after the league's board of governors approved the decision to sell to Benson. As part of the deal, Louisiana Gov. Bobby Jindal has approved the Hornets' lease extension at the state-owned New Orleans Arena, which runs through 2024 and provides for $50 million in improvements.
Benson agreed in April to buy the Hornets. The team had been owned by the NBA since December of 2010.
The Hornets recently have been awarded the top pick in the June 28 NBA draft and are expected to select Kentucky's Anthony Davis. New Orleans also has the 10th overall pick.
|Post-Scrimmage: David Blatt|
Cavaliers Head Coach David Blatt talks to the media following Wednesday's Wine & Gold Scrimmage.
|Post-Scrimmage: Kevin Love|
Kevin Love addresses the media following the Cavaliers' Wine & Gold Scrimmage.
|Post-Scrimmage: LeBron James|
LeBron James addresses the media following the Cavaliers' Wine & Gold Scrimmage.
|Open Court Preview: Charles on C-Webb|
Charles Barkley talks about what made Chris Webber a great player in the league.
|Open Court Preview: Makings of a Great Player|
Shaq, Isiah and Kenny discuss what makes a great player.