Lexus Gets Dallas Arena's Platinum Level Name Raiders Move Into New Training Facility DraftKings Inks Deals With Cowboys, Chiefs, Pats University Plans Threaten Downtown Cincy Project Iowa State Completes South End Zone Renovations Florida Close On O'Connell Center Financing Facility Notes Notre Dame Stadium Adding Three Video Boards Alameda, Raiders Officials A No-Show At Presser Fifth Third Arena Remodel Plans Approved
SAINTS DEAL HAS UNIQUE "ESCAPE CLAUSE"
Published October 7, 1994
In an examination of the new stadium deal between the Saints and the Superdome, Jeffrey Meitrodt writes that an "unusual part" is the escape clause. If, for whatever reason, the team leaves New Orleans before 2006, Saints owner Tom Benson would have to pay $25M, after which the penalty would decline by $1M per year providing for a minimum penalty of $13M. Under the previous deal, the most Benson could be penalized was $1M. The new lease runs through 2018 (New Orleans TIMES-PICAYUNE, 10/6).