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Tom Benson has purchased the Hornets

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Per everybody, including the Times-Picayune, Saints owner Tom Benson has reached an agreement with the NBA to purchase the New Orleans Hornets. This was a last minute surprise with the Benson offer being selected by the league over California-based contingent led by Raj Bhathal (apparently now including Gary Chouest). According to sources, Benson will own 100% of the team, with no minority owners. While any owner would have been a coup, one with such firmly entrenched local ties (and power), is like winning the lottery. Even with a new lease in place, relocation questions would have persisted with the California group. This move should put all that to rest for good (which probably helped Benson's bid, I would assume). There are plenty of unanswered questions and some concerns, but this is a GREAT day for Hornets fans and the city. Look for the announcement later today. I may come back with some expanded thoughts on what Benson's ownership means to the team, but right now I'm going celebrate and do a little Benson Boogie in honor of our new owner (Damn, that feels good to type).