Wednesday , Oct , 25 , 2006 C.Y. Ellis

Hornets lock up Paul for two more years

New Orleans, LA (Sports Network) – The New Orleans Hornets announced Wednesday
that they have picked up the third-year option on the contract of guard Chris
Paul. Per club policy, terms of the deal were not disclosed.

“Chris has exceeded all expectations both on and off the court since we
drafted him,” said Hornets General Manager Jeff Bower. “We envision him as the
cornerstone of this franchise for years to come, and todays announcement is
the first step towards making that happen.”

The number four overall pick in the 2005 NBA draft put in a solid campaign
last year, averaging 16.1 points, 7.8 assists, 5.1 rebounds and 2.24 steals,
on his way to earning the NBA Rookie of the Year award.

The Wake Forest product also led the league in steals (175), assists per game,
and total minutes played (2,808).

According to the NBA’s collective bargaining agreement, the first two years of
any first-round draft pick’s contract are guaranteed, but the team itself has
the option whether or not to pick up the third and fourth seasons. With this
new deal, Paul remains a Hornet through the 2007-2008 season.