The Hornets will wait for the NBA's new collective bargaining agreement before they assess Chris Paul's future with the team.

"I think with Chris, until there is a new agreement with the players association, I think it's difficult to say what's going to tactically work," New Orleans president Hugh Weber said. "It may be a totally different landscape."

The Hornets cannot begin extension discussions with Paul until this summer. However, if a lockout occurs, no discussions can start until a labor agreement is reached.

Phil Jackson is in agreement with Mark Cuban about the Hornets making a deadline week acquisition that added approximately $2 million to their books.

New Orleans, presently owned by the NBA, acquired Carl Landry in a deal for Marcus Thornton.

"I want to know who is making that trade and how they can take on that salary when everybody else in the league — I mean this is the owners — [has] to take on this extra salary," said Jackson, and he wasn't done. "Those are things that seem to be manipulations that I'm not quite comfortable with. Where's the consensus? If New Orleans happens to win the championship, does everybody get a trophy in the NBA?"

The Pacers, Hornets and Grizzlies were very close to finishing a three-team trade involving O.J. Mayo, Brandon Rush and Josh McRoberts with the call logged at 3:01 PM EST, but the Hornets reportedly pulled out.

The Hornets are currently owned by the NBA.

Memphis would have received McRoberts and a first round pick from Indiana.

New Orleans was going to acquire Rush.

A source confirmed to RealGM's Andrew Perna that timing wasn't the issue with the deal, but rather an agreement couldn't be reached.

Mark Cuban spoke out against Wednesday's trade completed by the NBA-owned New Orleans Hornets.

The Hornets acquired Carl Landry in a deal for Marcus Thornton, which included cash considerations.

“That’s just wrong. That’s just wrong. That’s just absolutely, positively wrong,’” Cuban said. “I’ll probably go against the grain from everybody else, but that is so far wrong that it’s not even close.

“There’s so few teams in the league that can afford to do that and yet we’re allowing a team that’s owned by the league to do that?”

The Hornets were purchased by the NBA in December and are essentially owned by the 29 other teams.

“I don’t need to be competing economically with the league and myself,” Cuban said.

The New Orleans Hornets announced today that they have acquired forward Carl Landry from the Sacramento Kings in exchange for guard Marcus Thornton and cash considerations.

“This is a trade that benefits both teams as Carl is a player we have looked to acquire for a long time and we hope to be a big part of our long term success,” said Hornets GM Dell Demps. “Carl is a high character person that will add a scoring punch to our front court while providing toughness and the ability to make plays. In order to get a good player, we had to give up a good player. We wish Marcus nothing but the best because he has a bright future in front of him. We want to thank Marcus for his contributions, energy and professionalism."

Chris Paul responded to the news of Utah trading Deron Williams with several less than flattering tags directed to the Jazz.

"Utah traded DWill?? #EpicFail #notagoodlook #trippin #cmonson," wrote Paul.

The Hornets are in a similar situation with Paul as the Jazz were with Williams. Both point guards are eligible to become free agents in 2012, but the Hornets have been aggressive in making a series of trades to improve their chances of retaining their franchise player.

Deron Williams does not become eligible for a contract extension until July, which is the three-year anniversary of his previous extension from July 18th, 2008.

Dwight Howard is also a potential member of the 2012 free agency class and is eligible to sign an extension now because he signed his in 2007. Howard first became eligible to sign an extension on July 12, 2010.

Chris Paul signed his previous extension on July 9, 2008, so he must also wait until July to sign an extension.

Williams and Paul must also wait until a new collective bargaining agreement is complete before an extension can be reached.

The Kings and Hornets are close to completing a trade that would send Carl Landry to New Orleans for Marcus Thornton.

Andersen was very nearly included, but he fell out of trade talks and cash will be sent to Sacramento instead.

The Kings held Landry out of Tuesday's game.

The Hornets are being offered first round picks for Marcus Thornton, according to sources.

The Nets are amongst the teams interested in acquiring Thornton.

Thornton, who was the 43rd overall pick in the 2009 NBA Draft, has averaged 19.5 points per 36 possessions during his first season and a half. But he has failed to receive consistent minutes due to his defensive liabilities.

Hornets guard Jarrett Jack has been arrested and charged with drunken driving, police said Monday.

Snellville police chief Roy Whitehead said that Jack, 27, was pulled over early Sunday by an officer who clocked him at 66 mph in a 45-mph zone.

Whitehead said Jack failed a field sobriety test, then was taken to the Gwinnett County jail and given a breath test, which measured just under the legal limit of .08 more than an hour after Jack was stopped.