Tom Benson, the owner of the New Orleans Saints, is reportedly in line to take control of another sports team in the Big Easy: The New Orleans Hornets.
A person familiar with the situation told the Associated Press that Benson will purchase the team for $338 million. The details of the deal have reportedly been agreed upon. Benson is now waiting for the NBA’s Board of Governors to approve the deal.
The NBA, which currently owns the team, purchased the Hornets from the clubs founder, George Shinn, in December 2010. USA Today reports that the NBA purchased the team for $318 million.
The Associated Press reports that Benson has owned the Saints for nearly three decades and helped bring the team its first Super Bowl championship. Benson will now be able to use both teams to attract corporate sponsorships.
Forbes estimated in January that the Hornets franchise was worth $285 million. According to the magazine, the Hornets have had three consecutive years of operating losses.
Do you think Tom Benson will be able to turn the New Orleans Saints into a championship team?