"The Chris Paul era in New Orleans isn't over — yet. A proposed blockbuster three-team trade of the New Orleans Hornets' point guard involving the Los Angeles Lakers and Houston Rockets was nixed Thursday, according to league sources.

Apparently, several owners in the league thought the deal was too beneficial for the Lakers, who would have paired Paul with Kobe Bryant. There was concern the Lakers, who have won two of the past three NBA championships, would get an unfair competitive advantage.

NBA Commissioner David Stern apparently stepped in after hearing complaints from several owners attending the league's board of governors meeting Thursday in New York to ratify the new labor agreement. The NBA has owned the Hornets for nearly a year and is seeking local ownership."