The Trail Blazers were close to acquiring point guard Chris Paul from the Hornets last week, a source told ESPN.com's Chad Ford.
The proposed deal had Portland sending Andre Miller, Joel Przybilla, Nicolas Batum, Jerryd Bayless and the 22nd pick to New Orleans for Paul and Emeka Okafor.
Hornets general manager Jeff Bower pulled the plug on the deal claiming that his owner wasn't ready to deal Paul.
New Orleans made a trade with Oklahoma City last week that got them under the luxury tax threshold, so they no longer have the financial pressure of dealing Paul.
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