The New Orleans Hornets have hired their own marketing firm, The Bonham Groub, to attract a buyer for the naming rights to the New Orleans Arena.

SMG, the current mangers of the arena, have been unable to find a company to purchase naming rights for the arena in the three years since Hornets moved to New Orleans from Charlotte.  

"We felt it was time for us to get more involved and start a more aggressive campaign to get the naming rights sold," said Sam Russo, the team's executive vice president of business.

Once that happens, if the naming rights amount is for more than $2.5 million per year, the state is in the clear, and the Hornets keep the profits.

If the Hornets sell the naming rights in excess of $1.5 million but less than $2.5 million, the state has to pay the team the difference, so it reaches a total of $2.5 million annually.