Makes complete sense. The NBA (Aka, all 30 owners as a whole) own the Hornets and foot all their bills.
They didn't have any luck selling that team with Chris Paul. With the package they were getting, there wasn't any cap relief, and not a single marketable player going to them.
What's better to potential buyers? Aging NBA middle men, or younger, marketable prospects?
I guarantee you Rondo for Paul isn't vetoed.