Hornet Sign New Lease Agreement

The State of Louisiana and the New Orleans Hornets ended 10 months of negotiations on Wednesday by signing an amended lease agreement that extends the club’s lease for two years, effectively keeping the team in Louisiana through 2014. The Hornets will continue to be eligible to receive financial incentives from the state based upon ticket sales at generally the same amount as the previous agreement, which was signed in 2002 when the team relocated to New Orleans from Charlotte.

New Orleans Times Picayune