Aldridge Reports Tom Benson to Purchase New Orleans Hornets

Published: April 13, 2012

The New Orleans Saints owner will extend his downtown empire.

David Aldridge has reported that Tom Benson will purchase the New Orleans Hornets for $338m, adding to the original report of the sale from Jimmy Smith of the Times-Picayune.

“A source indicated that the deal between Benson and the league was reached on Monday. Benson will have to pay approximately 10 percent of the purchase price immediately. The NBA’s Finance Committee is expected to approve the sale Friday morning before the Board of Governors meeting adjourns, with final approval on the sale expected later in the spring.”

Some Benson Pros:

Involvement with the Saints, Hornets, and Champions Square in many aspects

Benson being a majority owner prevents a Hornets relocation to any other NFL market as long as he owns both franchises

Benson has shown that he’ll spend when he thinks he can field a championship team

Some Benson Cons:

He may consolidate staff, potentially eliminating many good Hornets employees in favor of Saints staff

His leverage with the State the citizens may make him powerful enough to make disproportionately larger demands in the future

Any trouble with him or his family affects the entire major sports scene in the city

Details will be added in this post, and a detailed analysis will be up shortly once the situation matures appropriately.


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