Cash On Hand

TheOak · 03-10-2014, 08:20 PM

Originally Posted by ScottF

not too likely

Billionaire Saints Owner Tom Benson To Score $400 Million Revenue Boost From Agreement With State - Forbes

Unless he has a REAL bad gambling/coke/hooker problem

Four years ago, he negotiated one of the most complex — and lucrative — stadium lease agreements in the NFL, adding to his fortune as his team was bringing in estimated yearly profits of $31 million. Over 15 years, the term of the lease, the state will pay Benson at least $198 million in increased revenue from the Superdome, $142 million in rental payments on property Benson owns, $10 million in bonuses for bringing the Super Bowl to New Orleans and $2.6 million in tax breaks. Benson will get another $40 million from private rent payments to a tower he bought as part of the deal.

None of which means he has $15m in cash around. See all the places where it says payment(s)?

Benson is an investor. It is very foolish to have $15m sitting in a checking or savings account earning 1%.

In the last 3-4 years he has written $50m in checks to just Brees and Evans.

03-10-2014, 08:20 PM	#7
TheOak 10000 POST CLUB Join Date: Dec 2009 Location: Cypress Tx. Posts: 19,047	Re: Cash On Hand Originally Posted by ScottF not too likely Billionaire Saints Owner Tom Benson To Score $400 Million Revenue Boost From Agreement With State - Forbes Unless he has a REAL bad gambling/coke/hooker problem Four years ago, he negotiated one of the most complex — and lucrative — stadium lease agreements in the NFL, adding to his fortune as his team was bringing in estimated yearly profits of $31 million. Over 15 years, the term of the lease, the state will pay Benson at least $198 million in increased revenue from the Superdome, $142 million in rental payments on property Benson owns, $10 million in bonuses for bringing the Super Bowl to New Orleans and $2.6 million in tax breaks. Benson will get another $40 million from private rent payments to a tower he bought as part of the deal. None of which means he has $15m in cash around. See all the places where it says payment(s)? Benson is an investor. It is very foolish to have $15m sitting in a checking or savings account earning 1%. In the last 3-4 years he has written $50m in checks to just Brees and Evans.

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