A trade that would have sent New Orleans Hornets guard Chris Paul to the Los Angeles Lakers was vetoed Thursday night by N.B.A. Commissioner David Stern.
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According to sources, the three-team deal that also involved the Houston Rockets was vetoed by Stern, who has the authority since the league purchased the Hornets from former owner George Shinn in 2010.
The league did not immediately explain the decision, other than to issue a terse statement through a spokesman, saying, “League office declined to make the trade for basketball reasons.”