Hornets Hire Floyd as Coach

Tim Floyd was hired Monday as coach of the New Orleans Hornets after one of the worst three-year stretches in NBA history with the Chicago Bulls.

Floyd, who lives in the city and once coached the University of New Orleans, reached agreement with the Hornets earlier in the day.

Floyd said he will earn about $4.8 million in base salary over three years, plus incentives tied to playoff victories, but added, “I didn’t get back into this for the money.”

Team vice president Bob Bass began a news conference announcing the hiring with a statement downplaying Floyd’s 49-190 record in Chicago, calling the situation with the Bulls “very difficult.”

Floyd joined Chicago after the departure of Michael Jordan and Scottie Pippen. He resigned in December 2001.

Floyd twice led New Orleans to the NCAA tournament and had a successful run at Iowa State.

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Jeff Van Gundy was in contract negotiations with the Houston Rockets to become their coach two seasons after abruptly leaving the New York Knicks.

Rocket General Manager Carroll Dawson said Van Gundy told him he wants the job Rudy Tomjanovich left last month.

Dawson also said the Rockets had agreed to compensation with the Knicks, who have Van Gundy under contract through July 31.

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Charlotte’s NBA expansion team will be called the “Bobcats,” a nod to the owner who spent $300 million for the franchise.

Bob Johnson selected Bobcats over “Flight” and “Dragons,” a source familiar with the process told Associated Press.

The dominant color in uniforms and logos will be orange and official team apparel will be in stores Wednesday afternoon, the source said.

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The first chance to see high school phenom LeBron James play in a Cleveland Cavalier uniform could come in Boston at the Celtics’ summer league.

The Celtics announced that they will welcome the Cavaliers to their summer league at the University of Massachusetts-Boston from July 14-20.

James, expected to go to Cleveland as the first pick in the NBA draft, will attend, General Manager Jim Paxson said.