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.
Last season, DeMarcus Cousins received zero MVP votes (the same as every year of his career). Even though he averaged 24.1 points, and 12.7 rebounds a game, which was enough to get him his first All-Star berth, MVP is another thing entirely. Only players on winning teams tend to draw the attention of MVP voters.
This season, can Cousins — arguably the best center in the game — get in the conversation?
He thinks it’s more than just that, he told Kevin Ding at Bleacher Report.
The topic is the 2015-16 NBA MVP award and whether it could be reachable for DeMarcus Cousins.
“Reachable, man?” Cousins told Bleacher Report, his voice rising high. “It’s mine to grab.”
As noted above, the only way Cousins gets into the conversation — fair or not — is if the Kings are in the playoffs (at the very least). He understands that.
“It’s going to take a full team effort,” Cousins said. “I’ll try to play at a high level and bring my team along with me.”
Vlade Divac built a Kings’ team designed to start winning now — as you would expect from a team a year away from moving into a new arena they need to fill. Owner Vivek Ranadive is not about selling hope anymore, he wants to sell wins.
I think Cousins can help provide that.
I’m less sold on the cast around him being able to help.
After a bumpy season where the he fought with Suns coaches, then a summer where he and his twin Marcus felt they were blindsided by a trade, Markieff Morris has been plenty vocal about his unhappiness in Phoenix. To the point it has cost him some serious cash.
So what should we expect from Markieff Morris’ upcoming season?
Relative calm, I tell Jenna Corrado of NBCSports in this latest edition of PBT Extra previewing the NBA season.
The reasons are twofold. First, he has to realize the Suns aren’t trading him anyway (especially not while he publicly demands a trade, lowering his trade value). Second, can you imagine how new locker room leader Tyson Chandler is going to react to that? Chandler was brought in to fill a leadership void in the locker room, and you can bet he will make his displeasure at such team-disrupting antics known.
Still not sure if that’s enough to get the Suns to the playoffs.