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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.

  • No_NBA_until_Paul’s_in_LA

    Send David Stern a message. Join this FB page, share it on your wall and let’s get CP3 in a Lakers jersey! Boycott the NBA until Stern does the right thing! https://www.facebook.com/pages/No-NBA-until-Pauls-in-LA/325077450836328

  • No_NBA_until_Paul’s_in_LA

    Send David Stern a message. Join this FB page, share it on your wall and let’s get CP3 in a Lakers jersey! Boycott the NBA until Stern does the right thing! https://www.facebook.com/pages/No-NBA-until-Pauls-in-LA/325077450836328

  • Touching_Myself

    No!  It’s mo important to listen to your Masters you fcukin lap dog!  

  • Russell Grant

    This is on Dan Gilbert.  He whined to the league and killed the deal. 

  • PJ

    More valuable because its nba owned so more money for David Stern. Such a corporate minded dickhead!

  • lakergang1112

    why would they want to keep Cp3 on the hornet when he doesnt even want to play there?

  • Russell Grant
  • Charles Renno

    How can keeping a player who will be a free agent at the end of the season add value to a bankrupt franchize?

    • Russell Grant

      Because the small market teams want a chance to make a new play for him.  This is Gilbert in Cleveland and the Maloofs’ work

  • BS

    this is a load of crap, the trade would have improved the team… plus chris paul’s going to leave in a year anyway and Hornets will get nothing!

    • Russell Grant

      You’re expecting logic here.  This is forced parity and collusion.  The management in place for the Hornets worked and got an awesome deal that the small market owners killed.  Now if he was going to Cleveland Gilbert would have fudged his undies.

  • Elvisaaronpetrosian

    David Stern needs to understand that with out these players there is no NBA, So if they choose to go to another team he cant stop it. Also when these NBA owners were buying teams they know what they were buying you just cant stop big market teams just because no one wants to go to the bucks, grizzles, nets, kings and ETC!!!! Also Lakers are not just some punk ass team owned by some punk ass owners. This is a well ran organization and they have always been in the race and always will be. David Stern needs to realize this and stop listening to these wining owners. Mark Cuban is one of them last year he was over the cap and he won a championship now he is saying that we need to be under? Mark you sir are an idiot and afraid because you know as well as i do that you will never win another championship again in your life time.