Louisiana taxpayers will cut a check for $7 million to help the Crescent City's NBA franchise meet its revenue benchmark for the season.
Louisiana taxpayers will cut a check for $7 million to help the Crescent City's NBA franchise meet its revenue benchmark for the season, according to The Times-Picayune.
Gov. Bobby Jindal was in New Orleans Monday to attend the launch of new marketing campaign for the New Orleans Hornets, which the NBA purchased from local owners in December and appointed an agent to find a buyer in the New Orleans area. As part of the team's lease agreement with the state, which includes separate benchmarks for attendance and revenue, the state is obliged to pay the team up to $7.5 million at the end of the season if the Hornets don't gross at least $43.6 million.
In January the team met its attendance benchmark average of 14,735. With a 39-30 record, the Hornets are currently in sixth place in the NBA's Western Conference and remain in contention for a playoff spot.
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