Chargers Will Not Build Stadium In Mission Valley VCU Signs Naming-Rights Deal For Arena Minnesota United Quiet On Construction Delays Facility Notes Angels May Play Out Current Lease At Angel Stadium Golden 1 Center Brings Game Sound To Suites Verizon Begins Upgrading WiFi At Ford Field Petco Park Staying Busy During Padres Offseason Ronnie Lott Optimistic About Raiders Stadium Deal Syracuse Wants New Naming-Rights Deal
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).