The NBA-owned New Orleans Hornets have been sold to Saints owner Tom Benson for a price sources said is $338 million.

Benson said he is also trying to change the name of the NBA team to better fit the ambience, culture and charm of New Orleans.

“We need to find a name like (Jazz),” Benson said, referring to New Orleans first NBA team that relocated to Salt Lake City in 1979. “Whether we can get that or let us use that, you’ve got to know we’re working on it. We’d like to change it tomorrow. We have not gotten that approved, but we’re not letting up on it, either. Because we’ve got a good relationship with the commissioner and his people and we’re going to be on them daily to do something.”

The NBA purchased the Hornets from founding owner George Shinn in December 2010 for about $318 million when it appeared Shinn might sell to investors who planned to move the team out of New Orleans.

via John Reid of The Times-Picayune