It was the ultimate in bad timing. Remember the CBA was being ratified at the time at the very end of the lockout, therefore all the owners were convened together to vote. The Hornets were being run by the league and we were on the heels of having won our latest 2 titles. Dan Gilbert was furious on hearing this deal, he got most of the owners to agree with him in putting a stop to things, because of the circumstances Stern caved to his demands.
People always associate Stern with killing that deal but in reality a commissioner works for the owners and their role is to reflect the will of the ownership majority. Therefore Laker fans should be mostly pissed at Gilbert, he's the biggest reason that deal was overturned.