hornets

Chris Paul and the Hornets have reached a contract agreement that could keep the All-Star point guard with the team for at least the next four seasons.

Lance Young, Paul's agent, said Paul agreed Thursday to a three-year extension with a player's option for a fourth year.

The total value of the deal is $68 million. Paul has one season remaining on his current contract.

Chris Paul and the Hornets have reached a contract agreement that could keep the All-Star point guard with the team for at least the next four seasons.

Lance Young, Paul's agent, said Paul agreed Thursday to a three-year extension with a player's option for a fourth year.

The total value of the deal is $68 million.

The Hornets have agreed to send their first-round draft pick, the 27th overall, to the Portland Trail Blazers in exchange for cash that could help New Orleans add a key free agent to a rising young squad.

The deal awaits league approval and may not become official until Thursday's draft has begun, according to a person who works in the NBA and is familiar with the transaction.

NBA coach of the year Byron Scott and the New Orleans Hornets agreed in principle to a contract extension on Wednesday.

"I am very happy to sign an extension to stay here in New Orleans with the Hornets," Scott said in a statement released by the team.

"We, as a team, are a piece of the community of New Orleans.

Something will conclude in New Orleans. Either the Hornets' magical season, or the Spurs' reign as champs. Follow Game 7 LIVE.

Hornets center Tyson Chandler had to be helped to the bench after dropping to the floor with a bruised left foot in the fourth quarter of New Orleans' playoff game against the San Antonio Spurs on Tuesday night.

Chandler's leg appeared to buckle as he came out to the perimeter on the Hornets' defensive end.

Tyson Chandler struggled with the idea that New Orleans could be favored in its second-round series against the defending champion San Antonio Spurs, even if the Hornets are the higher seed and have home-court advantage.

"I don't know if many players on this team consider themselves underdogs, but for some reason that's what we've been labeled as," Chandler said.