SBD/7/Facilities Venues

SAINTS DEAL HAS UNIQUE "ESCAPE CLAUSE"

     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).
Return to top

Related Topics:

Facilities, New Orleans Saints

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug