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Louisiana was named after Louis XVI, King of France from 1643-1715. When Rene-Robert Cavelier, Sieur de la Salle claimed the territory drained by the Mississippi Rivive for France, he named it La Louisiane, meaning "Land of Louis".
Louisiana was named for King Louis XIV of France. French explorer Sieur de La Salle claimed the valley of the Mississippi for France in 1682, calling it La Louisiane ("Land of Louis").
France was cash strapped and needed funds to continue their war in Europe. Napoleon saw that the defense of the French property in the New World would be a long term drain on finances of the Empire. The slave revolt in Haiti was costing already much more then the return on sugar sales. It was obvious that the United States needed guaranteed access to the Gulf of Mexico and could probably take Louisiana by force if it could not get it peaceably.