Stern: Deal Close To Keep Hornets in New Orleans

by April 05, 2012

In a pre-game media session last night, the Commish said the League is negotiating with three groups interested in purchasing the Hornets and might be on the verge of finalizing the sale by next week’s Board of Governors meeting. Per the AP: “Commissioner David Stern said Wednesday night that the NBA is close to finalizing a deal to keep the Hornets in New Orleans with a very favorable lease, important capital improvements, intense tax benefits and a new television deal. Stern made the comments before Utah’s game against Phoenix. He’s in Salt Lake City for a luncheon that in part will honor late Jazz owner Larry H. Miller. Stern prefaced his comments by telling a joke, saying “soon” when asked about the Hornets’ deal. But he said the league was in intense negotiations with three groups. He was hopeful he could tell team owners at a meeting next week that the deal was done, close or that he was on the verge of a deal.”