NEW ORLEANS, LA - New Orleans Saints owner Tom Benson has purchased the Hornets for $338 million.
The league chose Benson, who purchased the team by himself, over a group of investors including businessman Raj Bhathal and former NBA head coach and general manager Mike Dunleavy, and former minority owner Gary Chouest, who had tried unsuccessfully to buy the team from majority owner George Shinn three years ago. The Bhathal group also included Larry Benson, Tom Benson's younger brother.
The Times-Picayune reported Thursday that Bhathal and Chouest met with league officials in New York on Monday. A source indicated that the deal between Benson and the league was reached on Monday.