According to USA Today sports reporter, Jeff Zillgitt
, Benson will be the sole owner of the NBA franchise, which was previously owned by the NBA itself. Benson's purchase price is $338 million.
Zillgitt reports that the deal must still be approved by the NBA Board of Governors, which will meet Friday in New York.
At this point, there shouldn't be any roadblocks standing in the way of the sale, NOLA.com
The NBA had been trying to sell the Hornets since buying the team from founder George Shinn in December 2010 for reportedly $318 million. While preparing to sell the team, the league negotiated a new lease for the Hornets to remain in the New Orleans Arena through 2024, Fox Sports
According to Turner sports reporter, David Aldridge
, a group of investors including Raj Bhathal, former NBA coach and general manager, Mike Dunleavy, and former minority owner, Gary Chouest, had tried unsuccessful to buy the team from George Shinn 3 years ago.