Saints Owner Tom Benson agrees to buy New Orleans Hornets

The New Orleans Saints are having quite the off season with the Suspension of Sean Payton, but good news has come their was as Saints owner Tom Benson is close on a deal to buy the NBA’s New Orleans Hornets.

David Aldridge reports that the price of the team will be $338 million and Benson will have to pay 10 percent of the purchase price immediately. (Some are unaware, but the National Basketball association currently owns The New Orleans Hornets.)

This purchase was made possible by a change in NFL rules many years ago which allows NFL team owners to also own teams from other sports in the same market.

This rule has affected other owners as the Rams owner Stan Kroenke had to transfer ownership of the NBA’s Denver Nuggets to his son when he bought into the NFL.