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New Orleans Hornets' sale completed

Updated: June 15, 2012, 7:27 PM ET
Associated Press

NEW ORLEANS -- Saints owner Tom Benson has officially gained control of the New Orleans Hornets from the NBA.

The completion Friday of the $338 million sale of the NBA club comes two days after the league's board of governors approved the decision to sell to Benson. As part of the deal, Louisiana Gov. Bobby Jindal has approved the Hornets' lease extension at the state-owned New Orleans Arena, which runs through 2024 and provides for $50 million in improvements.

Benson agreed in April ...

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