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Rumor: Saints actually moving and being sold?

this is a discussion within the Saints Community Forum; Benson\'s a car salesman...\'nuff said....

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Old 11-28-2004, 03:35 PM   #11
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Rumor: Saints actually moving and being sold?

Benson\'s a car salesman...\'nuff said.
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Old 11-28-2004, 03:45 PM   #12
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Rumor: Saints actually moving and being sold?



By the way, you guys should read this article....

http://www.blackandgold.net/site/mod...rder=0&thold=0

Gumbo is a very real insider who works for the Superdome commission. Enjoy

[Edited on 11/28/2004 by Halo] [/quote:37a416a12b]

Again...Here\'s the kind of guys we had working on the deal ...

Superdome commission? just read the article...


http://www.usatoday.com/sports/footb...mmission_x.htm
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Old 11-28-2004, 04:02 PM   #13
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Rumor: Saints actually moving and being sold?

shadowdrinker_x

P.S. The \'\'Superdome Commision\'\'?..what?..they have been non existent...and even disbanded..those guys are a joke..
Actually that was the Blue Ribbon Commission. The Superdome Commission is a committee that keeps the Dome maintained and attracts teams, games, conventions etc. to the Dome. They are also responsible for Dome maintenance and renovations. They are also involved with making the deal with the State and Saints.
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Old 11-28-2004, 04:06 PM   #14
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Rumor: Saints actually moving and being sold?

Again...Here\'s the kind of guys we had working on the deal ...

Superdome commission? just read the article...

http://www.usatoday.com/sports/footb...mmission_x.htm [/quote:098cf87b0e]

Shadowdriver, the Blue Ribbon Commission is not the Superdome Commission.

The Superdome commission was formed when the Dome was built, you have that confused. The Blue Ribbon commission was formed to see if the dome would be renovated or a new stadium was built or nothing would happen at all.

Superdome Commission is completely different.

[Edited on 11/28/2004 by Halo]
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Old 11-28-2004, 04:24 PM   #15
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Rumor: Saints actually moving and being sold?

oh yeah..here\'s why benson isn\'t going to lose money if he movers..there are loop holes..

http://www.pittsburghlive.com/x/irwinbank/s_201589.html

If the Gov. doesn\'t find some miracle to repay the loans to pay the team..while still paying the team at the same time...then it doesn\'t matter..benson can leave without any penalty

[Edited on 28/11/2004 by shadowdrinker_x]

[Edited on 28/11/2004 by shadowdrinker_x]
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Old 11-28-2004, 06:11 PM   #16
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Rumor: Saints actually moving and being sold?

If the team leaves there will be a huge hole in the State\'s budget and look for Louisiana to lose more fortune 500 companies and Louisiana will probably have to file for bankruptcy.
Hey Halo, isn\'t there like only one fortune 500 company in the state as it is now? Do you mean it will prevent more from coming, which I agree with totally?

[Edited on 11/29/2004 by Halo]
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Old 11-28-2004, 06:16 PM   #17
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Rumor: Saints actually moving and being sold?

You didn\'t read previous articles, that article is from July 2nd. We borrowed money from economic development money the state had that was from money the Saints generated. The reason why our hotel motel tax was low is because after 911 tourism has been down. The deal was incramental over time and because there was a gap, the state had to re allocate funds. But this year travel and tourism is back to levels of 2002. The state and Benson want to reset the accrument, but Benson said \"lets make a deal until 2020 and build a new stadium or renovate the dome.\" Which is where we are today.

\"The state borrowed money from the Louisiana Economic Development Corporation and is scheduled to pay it back over eight years with local cash.\" Local cash from New Orleans - The money came from the Saints Motel Hotel generated cash.

\"The plan overwhelmingly was approved by lawmakers in the final hours of the legislative session and was signed by the governor.\"

The State is not going to default on a contract with the Saints and risk losing millions it invested in new facilities on Airline Drive and give recent incentive money to the Saints to walk away with.

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Old 11-28-2004, 06:28 PM   #18
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Rumor: Saints actually moving and being sold?

You didn\'t read previous articles, that article is from July 2nd. We borrowed money from economic development money the state had that was from money the Saints generated. The reason why our hotel motel tax was low is because after 911 tourism has been down. The deal was incramental over time and because there was a gap, the state had to re allocate funds. But this year travel and tourism is back to levels of 2002. The state and Benson want to reset the accrument, but Benson said \"lets make a deal until 2020 and build a new stadium or renovate the dome.\" Which is where we are today.

\"The state borrowed money from the Louisiana Economic Development Corporation and is scheduled to pay it back over eight years with local cash.\" Local cash from New Orleans - The money came from the Saints Motel Hotel generated cash.

\"The plan overwhelmingly was approved by lawmakers in the final hours of the legislative session and was signed by the governor.\"

The State is not going to default on a contract with the Saints and risk losing millions it invested in new facilities on Airline Drive and give recent incentive money to the Saints to walk away with.

this is from the story i posted...

The state borrowed money from the Louisiana Economic Development Corporation and is scheduled to pay it back over eight years with local cash. The plan overwhelmingly was approved by lawmakers in the final hours of the legislative session and was signed by the governor -- though it\'s still unclear what source of local money will be used to pay off the loan.

you left out that little part...

The governor and other officials are trying to renegotiate the overall deal with Saints owner Tom Benson, but the state had an immediate payment due Monday. If the state defaulted, the Saints could move without paying a penalty.

and that is why i say..it\'s time to worry...
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Old 11-28-2004, 06:35 PM   #19
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Rumor: Saints actually moving and being sold?

Shodowdriver, that article was from July and is very old news, it is now known where the money came from.

They made that payment and it was overwhelmingly adopted by the State.

The article was wriiten July 2nd 2004 and the payment was made on Monday July 5th.

They are renegotiating the deal so the State will not have to make the payments every year and to seal the Saints until 2020.

[Edited on 11/29/2004 by Halo]
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Old 11-28-2004, 06:37 PM   #20
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Rumor: Saints actually moving and being sold?

If the team leaves there will be a huge hole in the State\'s budget and look for Louisiana to lose more fortune 500 companies and Louisiana will probably have to file for bankruptcy.
Hey Halo, isn\'t there like only one fortune 500 company in the state as it is now? Do you mean it will prevent more from coming, which I agree with totally?

[Edited on 11/29/2004 by Halo]
The State has 2 fortune 500 and several fortune 200 and 100 companies throughout the State.

Louisiana:

Entergy and
Shaw Group

Compare to Mississippi that has 0 fortune 500 companies.

Arizona has 3 fortune 500 companies

Allied Waste Industries
Avnet
Phelps Dodge

Indiana has about 5...

But you\'re right, it\'s hard to attract any with no NFL team, especially one that funds the State of LA like the Saints do... one that if they left would leave a hole in the budget too big to fill.


[Edited on 11/29/2004 by Halo]

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