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State Agency Unlikely To Fully Pay Saints, Hornets This Year
Published February 11, 2009
|LSED Faces A Shortfall, Largely Due To Team
Obligations And Mounting Debt
IN NEGOTIATIONS: Thornton said that Louisiana "is negotiating a new contract with the Saints, but did not indicate when a deal would be struck." In New Orleans, Ed Anderson noted the current deal "expires in 2018, although the financial inducements the state pays end after the 2010 football season." Thornton added that he "would like to extend the contract by 15 to 20 years." Louisiana in addition to the $23.5M, owes the Saints $10.4M "in other contractual inducements, like concessions and parking revenues" (NOLA.com, 2/10). Also in New Orleans, Kate Moran reported Louisiana "is in lease negotiations that would keep the Saints in the Superdome after the team's current contract expires in 2010." Louisiana "is pushing to work out a new agreement by April 1, the deadline to submit preliminary bids to host the Super Bowl in 2013" (New Orleans TIMES-PICAYUNE, 2/10).