More is sure to come out as an in-depth explanation needs to be made from the league office regarding the veto of the Chris Paul trade.
What we now know is what Bloomberg News is reporting after catching up with Stern briefly:
National Basketball Association Commissioner David Stern said today he vetoed the trade of Chris Paul to the Los Angeles Lakers because it was “more valuable” to keep the All-Star guard with the New Orleans Hornets.
Stern spoke in a brief interview at the NBA’s New York headquarters building a day after blocking Paul’s trade to the Lakers.
NBA spokesman Tim Frank said earlier that the deal was blocked for “basketball reasons.” The league owns the Hornets and is trying to sell the club.
Stay tuned for LakerNation.com as this story continues to develop.