Tom Benson is Officially the Owner of the Hornets

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Published: June 15, 2012

The news we’ve all been waiting for has arrived– Tom Benson has officially taken over ownership of the Hornets. YESSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS!!!

The purchase of the New Orleans Hornets by Tom Benson was completed today after having been approved by the National Basketball Association’s Board of Governors. Per league policy, the terms of the transaction were not released. Tom Benson is now officially the new owner of the New Orleans Hornets.

In conjunction with the finalization of the ownership transaction, the Hornets’ lease extension with the State has been approved by Governor Bobby Jindal and the Louisiana legislature. The extension will keep the Hornets in New Orleans long term, as well as provide funding for upgrades to the New Orleans Arena. The agreement also included the elimination of all exit options, attendance benchmarks, and financial inducements.

The announcement of the finalization of the sale comes on the heels of the Hornets receiving the #1 pick, as well as the #10 pick, in the 2012 NBA Draft on June 28. In April, it was announced that New Orleans will be the host city for the 2014 NBA All-Star Game.

“I’m thrilled to have become the owner of the Hornets,” Benson said. “There is a lot of excitement in the region about the franchise, especially after winning the #1 pick in the upcoming NBA draft. We have been successful with the Saints and I know we can translate that success to our NBA team as well. We have the best, most dedicated fans in the world and will need them along the way as we work as an organization to make them proud. Championship performance is tied to fan support and the passion of the New Orleans sports fan is second to none. We look forward to joining up with all of our valued current fans and also introducing this great team game to many more residents of our city and region.”

26 comments
nikkoewan
nikkoewan

Was on an internet hiatus because of a weekend out with the family but man, Da thRONe is right - two words indeed HELL AND YES!

LaNative
LaNative

New Orleans didn't steal the Hornets, Shinn moved his team to New Orleans because of poor attendance in Charlotte. Now you have a team that had the worse record in basketball this year and you feel like you've been jilted again by the people of NOLA because the Hornets got the #1 (btw the #10 picks). Your ignorance shines through and Charlotte should be proud to have you as a spokesman because you are definitely doing them proud. I was against the name change prior to your rant and now because of it I'm more determined that it should remain HORNETS!

Jason Calmes
Jason Calmes

It wasn't attendance. They led in attendance for a long time, in fact. Shinn did some things to turn opinion against himself and could not get an Arena built. We've had a team affirmed to be here 3 times in 10y (2002, 2007, 2012), more than most teams, and all because of the Arena. We built it to attract a team and are pumping at least $50m into it in the next couple years (done deal, act of state congreess). Forget attendance.

jay
jay

kev yes i may be ignorant but i love the new orleans hornets stayin in new orleans

jjmartin
jjmartin

Not so happy about Benson. Never liked and is not the classiest. But if it keeps the team in the city then so be it.

CHAHornets
CHAHornets

Yeah keep Charlotte's name and always be the New Orleans Hornets of Charlotte. People will never respect this franchise until they stop being our step child in Louisiana. Jesus man for a city and garbage state you guys brag so much about culture and being unique then you say keep someone other cities name? SAD and PATHETIC. No wonder you guys live in a constant flooded bath tub your way to stu-stu-stupid to stop copying other cities and other cultures I get it now Louisiana is a copy cat area and a bad one at that.

BrowDown504
BrowDown504

U Madd Bro its ok Brow Down to the N.O Hornets Like it and Love it!!!! Oh and P.S Bobby Phills jersey now hangs in our Arena DEAL WITH IT!!!

Andrew Smith
Andrew Smith

The ATL Hawks kept the name from the St. Louis Hawks, The Brooklyn Nets are keeping the name from New Jersey Nets, Golden State Warriors kept the name from the Philadelphia Warriors, Houston Rockets kept the name from the San Diego Rockets, Los Angeles Clippers kept the name from the San Diego Clippers, Los Angeles Lakers kept the name from the Minneapolis Lakers, Memphis Grizzlies kept the name from the Vancouver Grizzlies, Sacramento Kings kept the name from the Kansas City Kings, Utah Jazz kept the name from the New Orleans Jazz & New Orleans Hornets will keep the name from the Charlotte Hornets. Problem?

Jason Calmes
Jason Calmes

I read this, and I nearly shed a tear. My baby is all growed up!

Gary Walker
Gary Walker

I think your team has more problems than a name buddy. Someone sounds a litttle bitter. A 7 win team cant call the hornets their stepchild. So go bitch somewhere else cause no one here wants to hear it.

hornetssss
hornetssss

How's that 2nd pick of the draft taste? bitter? hard to get down?

ryc30078
ryc30078

Hey dude get a life get a woman do something stop trolling on other team's fan sites spewing non sense loser.

Jason Calmes
Jason Calmes

Who here do you think decides on franchise names?

Marco Rosamano
Marco Rosamano

Sullinger would be a steal at 10. Congrats Mr. Benson, looking forward to you boogieing in the arena. If Sully is on the board at 10, tell Dell to pull the trigger on him.

sweetpea
sweetpea

Now lets start getting some more banners and retired jersey's; Pistol's jersey has always looked kind of lonely to me.

Jason Calmes
Jason Calmes

Check the Born on the Bayou piece for 8 that need a-retiring

jay
jay

f seattle for tryin take our team

Kev
Kev

Ignorant people are ignorant

Kev
Kev

Talkin to you jay

Michael McNamara
Michael McNamara

And MAJOR props to Stern. Rewind to September of 2010 if you can and remember how hard it was to be a fan of this franchise. A horrible season that saw Jeff Bower of all people as coach, our star had just got back from injury and wanted out. We traded out of a lotto pick so somebody would take Mo Pete off our hands, our owner sold his team to the league and there were rumors everywhere that the Hornets were off to Seattle or Anaheim or KC. Now here we are in June of 2012 and the future really couldn't be brighter. Thank you so much Mr. Stern, and Mr. Benson- let's keep the momentum going!

Eric
Eric

whos bad mouthing benson ill give them a bayou beatdown. Finally its been a long two years but this is the best thing for a team Thanks to 42 and all the others who kept us in the loop for what seems like forever oh and just say NO to the rebrand !!!!

Jason Calmes
Jason Calmes

I seem to recall strong anti-Benson comments from some. Tippy-tap?

da ThRONe
da ThRONe

I do recall plenty of people saying how they wanted Benson no where near this franchise.

David
David

Yessssss!!!! Now don't draft Sullinger or Marshall. Also, extend Monty and Dell.

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