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Hornets to be sold to Saints owner Tom Benson for $338 million

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Tom Benson, the long-time owner of the New Orleans Saints, now will own both professional sports teams in that market.

Benson has reached a deal to buy the team for $338 million, reports David Aldridge of NBA.com.

The league reached a tentative agreement early Friday morning with New Orleans Saints owner Tom Benson to buy the team for $338 million, according to a source with knowledge of the discussions.

The NBA Board of Governors had been expected to approve a sale of the team at its meetings this week in New York. Going into the week a California-based group led by Mike Dunleavy and Raj Bhathal was considered the front runner. But Benson stepped forward able to buy the team himself, without a group of investors, and that plus his ties to New Orleans apparently swayed the other owners.

A source indicated that Tom Benson spoke with Stern on Monday, and the deal came together quickly after that discussion. 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.

The Times-Picayune broke the story this morning.

The NFL used to have strict rules against their owners also owning teams in other sports, but that has been relaxed to allow owners to have multiple teams in the same market, according to ProFootballTalk at NBC.

The league bought the Hornets from George Shinn, who tried his hardest to run that team into the ground and ruin the market like he had done in Charlotte. That sale price was reportedly $318 million (so the owners turn a small profit on the deal). While operating the team the NBA was able to negotiate a new, more favorable lease deal for the New Orleans Arena — a deal that keeps the team in the city through 2024 — and to build up the season ticket and fan bases in the city. That plus a new CBA that is more favorable to small markets made the Hornets attractive to investors.

The fans in the Big Easy have stepped forward to support the team. They deserve stable ownership and now they have it.

Charles Oakley plans to attend Knicks game in Cleveland

FILE - In this Jan. 20, 2011 photo, then-Charlotte Bobcats assistant coach and former New York Knicks star Charles Oakley directs players in the first half of an NBA basketball game against the Philadelphia 76ers in Charlotte, N.C.  Oakley was forcefully removed from his seats at Madison Square Garden and arrested after an altercation near team owner James Dolan. Oakley shoved security guards before they pulled him away from his seat behind the baseline during the first quarter of the Knicks' 119-115 loss to the Los Angeles Clippers on Wednesday night, Feb. 8, 2017. (AP Photo/Chuck Burton, File)
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Charles Oakley might not be welcome at Knicks games in New York.

Knicks games in Cleveland? I suspect he’ll get a different reception.

Ian Begley of ESPN:

Charles Oakley plans to attend New York’s road game against the Cleveland Cavaliers on Thursday night, the former Knicks player told ESPN’s Jeff Goodman.

Oakley, a Cleveland native, has grown close with the Cavaliers. LeBron James particularly backed Oakley in his dispute with Knicks owner Jim Dolan.

To be clear, Oakley’s feud is more with Dolan than the Knicks, Oakley’s former team. So, assuming Dolan doesn’t attend tonight’s game, this won’t into the fireworks we saw at the last Knicks game Oakley attended.

It’ll just be a chance for more people outside Dolan’s payroll to embrace Oakley.

Paul George says he was in dark as trade rumors swirled, “thought I would have been in the loop”

NEW ORLEANS, LA - FEBRUARY 18:  Paul George #13 of the Indiana Pacers greets fans prior to practice for the 2017 NBA All-Star Game at the Mercedes-Benz Superdome on February 18, 2017 in New Orleans, Louisiana.  (Photo by Ronald Martinez/Getty Images)
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If your goal over the next few months is to make your star player happy, build a contender around him, and convince him he wants to be here as a free agent in 2018, the Pacers got off to a rocky start Thursday.

George had been linked to the Celtics, while teams such as Denver and Atlanta made runs at him. It was a swirling vortex of rumors with a lot of “will the Pacers pull the trigger or not” intrigue.

What was it like to be in the middle of that? George wouldn’t exactly know, he was learning of things when we were, and he sounded a little ticked when talking about it to the media Thursday.

Damn.

Those rumors you hear about George going to the Lakers as a free agent in 2018 have some real weight behind them, much of the league thinks that could well happen (2018 is a long way off, but other teams that would like to get in the conversation think that’s PG’s intention).

The Pacers need to change his mind, and it sounds like the first step was in the wrong direction.

Hawks trade Mike Scott to Suns

ATLANTA, GA - SEPTEMBER 26:  Mike Scott #32 of the Atlanta Hawks poses during media day on September 26, 2016 in Atlanta, Georgia.  (Photo by Kevin C. Cox/Getty Images)
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The Hawks wanted a stretch four to back up Paul Millsap and likely spend time with Dwight Howard.

Realizing its roster lacked an adequate one, Atlanta traded for Ersan Ilyasova.

The stretch four the Hawks already had — Mike Scott — has barely played this seasonand looked lousy when he has, shooting just 4-for-27 on 3-pointers ((15%).

Hawks release:

The Atlanta Hawks Basketball Club has acquired a protected second-round draft pick from the Phoenix Suns in exchange for Mike Scott, the draft rights to Cenk Akyol and cash considerations, it was announced today by President of Basketball Operations/Head Coach Mike Budenholzer.

Money was the driving force behind this trade.

The Suns can count Scott’s entire salary ($3,333,334) toward the floor while paying only the prorated portion remaining ($941,177). So, Phoenix saves the difference ($2,392,157) and gets whatever cash Atlanta sent.

Presumably, the Hawks included an amount less than they would’ve had to pay just to waive Scott themselves ($3,333,334).

The Suns can undertake a reclamation project on Scott. Or they could just waive him. The 28-year-old looks pretty wayward.

Phoenix also gets Akyol as another nearly valueless piece. The window for Akyol, the No. 59 pick in 2005, to join the NBA is rapidly closing, if it hasn’t already. He’ll turn 30 in April.

Even in the likely event Scott and Akyol amount to nothing for the Suns, they still get the financial benefits. And so do the Hawks.

Magic Johnson’s Lakers trade for point guard: Tyler Ennis from Rockets

LOS ANGELES, CA - OCTOBER 26:  Jordan Clarkson #6 of the Los Angeles Lakers scores on his layup as he is fouled by Tyler Ennis #6 of the Houston Rockets during a 120-114 season opening win at Staples Center on October 26, 2016 in Los Angeles, California.  NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement.  (Photo by Harry How/Getty Images)
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Has legendary Lakers point guard Magic Johnson found someone to follow in his footsteps?

Almost certainly not.

But, in his second trade with the Rockets since taking over the Lakers’ front office this week, Johnson found a point guard to take a flier on: Tyler Ennis, who was exchanged for Marcelo Huertas.

Adrian Wojnarowski of Yahoo Sports:

The Los Angeles Lakers have acquired guard Tyler Ennis from the Houston Rockets, league sources told The Vertical.

The Lakers sent guard Marcelo Huertas to Houston in exchange for Ennis, sources said. The Rockets will waive Huertas.

Ennis was the No. 18 pick in the 2014 draft. But he has just looked over his head in three NBA seasons with the Suns, Bucks and Rockets. There’s a reason the Lakers got him so cheap. It’s unlikely he’ll stick in the NBA, and D'Angelo Russell is clearly still the franchise point guard.

Still, point guards tend to develop late, and Ennis is just 22. There’s always a chance he’ll rediscover the court vision he displayed at Syracuse.

The Lakers will hope he plays better — just not too much better. Because his fourth-year team-option was declined, they can re-sign him for a starting salary up to just $3,066,713 (what he would’ve earned, with the rookie-scale adjustment under the new Collective Bargaining Agreement, if his option had been exercised).

Also in the final guaranteed year of his contract, Huertas is making $233,880 more than Ennis. That’s not much, but if the Rockets were going to waive Ennis anyway — this trade suggests they were — why not save that money?

The 33-year-old Huertas likely drops out of the NBA. He already fell out of the Lakers’ rotation.

And with that spot open and a little extra money to spend — including more from the K.J. McDaniels trade — Houston can be a player in the post-buyout market as it revs up for a playoff run.