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.

ScottF · 03-10-2014, 08:56 PM

Originally Posted by TheOak

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.

yes, and after he wrote the checks he still had $31,000,000 in profit each year

TheOak · 03-10-2014, 09:04 PM

Originally Posted by ScottF

yes, and after he wrote the checks he still had $31,000,000 in profit each year

Which still means absolutely zero in in terms of cash on hand. Profit doesn't automatically go into a mattress. Generally it gets rolled over into something else. Perhaps another car dealership, charity, motel... Even the filthy rich don't just let the ledger on the check book register roll up to $15m.

03-10-2014, 08:20 PM	#1
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.

03-10-2014, 08:56 PM	#2
ScottF 5000 POSTS! + Join Date: Feb 2007 Location: Atlanta Posts: 6,324	Re: Cash On Hand Originally Posted by TheOak 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. yes, and after he wrote the checks he still had $31,000,000 in profit each year

03-10-2014, 09:04 PM	#3
TheOak 10000 POST CLUB Join Date: Dec 2009 Location: Cypress Tx. Posts: 19,047	Re: Cash On Hand Originally Posted by ScottF yes, and after he wrote the checks he still had $31,000,000 in profit each year Which still means absolutely zero in in terms of cash on hand. Profit doesn't automatically go into a mattress. Generally it gets rolled over into something else. Perhaps another car dealership, charity, motel... Even the filthy rich don't just let the ledger on the check book register roll up to $15m.

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