NBA Board of Governors Approves Sale of New Orleans Hornets

The NBA announced that the sale of the Hornets to Tom Benson has been approved by its board of governors. From the AP: “A one-sentence statement released by the NBA on its Twitter page Wednesday night says the transaction is expected to close this week. Benson and NBA Commissioner David Stern announced in April that the Saints’ owner had agreed to purchase the Hornets from the league and officials confirmed a sale price of about $338 million. The NBA bought the Hornets from club founder George Shinn in December 2010 and spent 16 months looking for a buyer who would keep the team in Louisiana. Benson also has agreed to the terms of a recently negotiated lease keeping the Hornets in the New Orleans Arena through 2024.”