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One source close to the three-team Chris Paul trade talks just told ESPN.com: "The deal is off."

One source close to the three-team Chris Paul trade talks just told ESPN.com: "The deal is off."

Marc Stein's twitter. To my knowledge, what happened is that since the NBA owns the Hornets, they vetoed Dell Demps' decision. The Board of Directors voted and decided to block the trade. Why? Well, maybe the league is dishonestly blocking a star player looking to form a super team. Alternatively, maybe to help the sale of the Hornets to a new owner, the NBA would rather lose CP3 in free agency next summer, and give a prospective owner a clean slate, than force said owner to buy into a team where a 30-something Pau Gasol is being paid nearly 20 million dollars a year for three more seasons. PLEASE NOTE: The OWNERS did NOT block the trade, nor can they. They simply raised enough of a fuss to make the NBA Board veto. Normally, the league cannot veto a trade, but because the NBA owns the team, they can stop it.
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