I don't understand why people are mad here. Stern and the NBA owns the Hornets. Stern as the Commissioner and head guy for the NBA is basically that of the Hornets - the head guy. The GM for the team, that he is the head guy of, put together a trade that he didn't like. Thus he trashed it. The deal was never "done"! That was BS by the media. It wasn't done because it wasn't approved by the Hornet's ownership, basically Stern who has ultimate final say.
Again, the NBA owns the Hornets. Stern is the head guy of the NBA. Thus he is the acting owner of the Hornets. No different then if DA said "I got a deal done to trade Rondo for Tony Parker and a protected first but I need ownership to sign off on it." Then Wyc not liking the trade doesn't sign off on it.
That's what happened. Stern didn't like the trade and geez I wonder why?! What did the trade accomplish besides a commitment to mediocrity? No youth to build around, no young star, no cap space, and no lottery picks. WOW! Lol that's a great deal for the long term future of this team. Let's be good enough to always get eliminated in the first round of the playoffs and never have a chance at drafting a franchise player. I mean it's worked great for the Sixers and Hawks.
Stern wants to sell the team and that package ain't helping. You either need young talent and cap flexibility or you need another superstar in return for Paul. You can't settle for anything else even if at the time it seems like a less trade in the short term.
That trade was made by a GM who is looking for his next job. He wants to say "look I still created a playoff team even after CP3 wanted out." Yet, that's not the way to go. Stern has seen what it takes for success in a small market and he wants to go the route of the Thunder and how the Jazz are doing now. Not how Charlotte and Atlanta have been doing it the last few years.