New Orleans Saints owner Tom Benson will buy the city’s National Basketball Association team, the Hornets, NBA Commissioner David Stern said.
Benson will pay $338 million, according to a person with direct knowledge of the transaction who was granted anonymity because the price isn’t public. League spokesman Tim Frank declined to comment. Greg Bensel, a spokesman for the Saints, didn’t immediately return an e-mail seeking comment.
“We have really found the perfect owner,” Stern said at a news conference in New York after a league owners meeting.
The NBA took control of the Hornets in 2010. Benson has owned the National Football League Saints since 1985.
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