CheramieIII

Saints | State owes less because of Hurricane Katrina
Sat, 18 Feb 2006 18:36:48 -0800

Glenn Guilbeau, of the Shreveport Times, reports Hurricane Katrina is expected to save the state of Louisiana nearly $12 million this July in the payment the state has to make to the New Orleans Saints. Because Katrina, which ravaged New Orleans and the Gulf Coast Aug. 29 and damaged the Saints' Louisiana Superdome home, the state does not owe the Saints as much money as it would have had the Saints played all of their scheduled games in the state-owned Superdome. Without the hurricane, the state would have owed the Saints $15 million at the end of this fiscal year, according to the 10-year contract agreed upon in the spring of 2001 in lieu of a new stadium amid threats of a move by Saints owner Tom Benson. In a deal unique to pro sports, the state has already paid the Saints straight allowances or subsidies of $12.5 million in July of 2002 and 2003 and $15 million in 2004 and 2005. Due to Katrina, the state now only owes $3.3 million in July, according to the contract, If the Superdome is ready for games in 2006, the state's bill to the Saints will go back up to $20 million in 2007, $20 million in 2008 and $23.5 million in 2009, 2010 and 2011.

http://www.kffl.com/hotw/

I bet ya Benson don't like this crap.

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