As reported yesterday, it's official. The NBA is buying the Hornets. Apparently NHL executive Jac Sperling will oversee the team on an interim basis while the NBA searches for a buyer.
Check out frequent At the Hive commenter James Grayson's take on the issue at Swarm and Sting. I agree with Grayson's distrust and dislike of commissioner David Stern. The way Stern handled the situation in Seattle a few years ago was disgraceful.
Speaking of the Seattle situation, if you've never seen the documentary film Sonicsgate, check it out. It's wonderfully done, and it feels particularly relevant right now.
Oh and of course the Hornets played a "basketball game" in San Antonio last night. If for some strange reason you'd like to relive that event (assuming you didn't gouge your eyes out in the process of watching last night and can still read), there are recaps here and here. As you can see, no one has much to say about it. That kind of beatdown pretty much speaks for itself.