State may honor old contract if a new one can't be made
 

If a deal cannot be reached in time for this session, Coulon said his belief is that the state and Saints will continue to operate under the old agreement. That calls for Louisiana to make a $15 million payment to the team in July. Government officials have said the state will be $9 million short for that installment.


"I believe it will be our intent to ask the state bond commission to allow us to refinance the Superdome to cover that debt," Coulon said. "We have already received permission to do the preliminary advertising for the bond sale."


The governor agreed that the old deal would remain binding.


"We feel it's important that the state honor its contracts no matter who they are granted to," Blanco said. "The contract is way too generous. We can't afford it. I'm cautiously optimistic we'll see some movement."

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