The Saints, facing what they describe as an "alarming
drop" in their fiscal fortunes, have begun seeking increased
financial support from their fans and the corporate
community, according to Meitrodt & Peter of the New Orleans
TIMES-PICAYUNE. The team started its push with a recent
ticket-price hike, the largest in franchise history, and
will now focus on lobbying for more corporate support. Also
in the Saints' plans is an "expected" request by team Owner
Tom Benson for LA to renegotiate his lease at the Superdome
for the third time since acquiring the team in '85. To help
"sell" the community on their efforts, the Saints "plan an
unprecedented series of private meetings with business and
political leaders in which they will offer a rare glimpse
into how the team's finances compare with the rest of the
league." But the team will withhold "hard numbers on
revenue or profits," and instead limit the discussion of its
finances to the Saints' rank in a few economic categories,
such as ticket sales. However, a recent Forbes study of the
league showed the Saints with the 12th-highest revenue
($80.9M) and the fourth-highest operating profit ($18.5M),
almost three times the league average of $5.3M. Though
Saints Senior VP Greg Suit and NFL Commissioner Paul
Tagliabue refute the figures, NFL Compliance Dir Michael
Keenan backed Forbes' figures. Keenan: "They might be off
by a million or two on individual teams, but trend-wise they
are pretty accurate" (New Orleans TIMES-PICAYUNE, 4/25).
WHERE'S THE CORPORATE LOVE? The Saints are hoping for
increased corporate support, as they claim that only 8% of
season tickets are purchased by local businesses, compared
to a league average of about 35%. And it could get worse,
as companies with big blocks of season tickets such as
Hibernia National Bank and Entergy Corp. have said there are
no plans to acquire additional tickets this year. A couple
of major corporations, including Freeport-McMoRan, have said
that they are giving up their suites this season. Freeport
VP/Social & Developmental Programs David Lowry blamed the
move on "depressed commodity prices and the company's
decision to suspend payment of dividends to shareholders"
instead of the ticket increase (TIMES-PICAYUNE, 4/25).
TAGLIABUE'S CONCERN: Tagliabue, on the situation of the
Saints: "We are concerned. They are one of the lowest-
revenue teams in the league" (TIMES-PICAYUNE, 4/25).
