Saints and Pelicans Owner Tom Benson has "reached a settlement agreement in his legal fight to take away ownership" in his teams from his estranged heirs, "avoiding a federal trial that was scheduled to start" tomorrow. The agreement will need to be approved by the NFL and NBA "before the deal can go into effect." Benson last year sued to remove shares in his teams "from trust funds he created for his daughter, Renee Benson, and grandchildren, Rita and Ryan LeBlanc." Benson later "announced he plans to leave the teams to his wife, Gayle Benson." Terms of the settlement "weren't released."
A Saints spokesperson said operations for all of Benson's business properties remain "business as usual." The litigation "involves only non-controlling stock in the franchises, meaning the shares didn't give the heirs any authority over the teams, only a financial interest." The heirs' trust funds hold 95% of the Pelicans and 60% of the Saints (New Orleans TIMES-PICAYUNE, 6/18). The settlement "should clear Benson's path" to make Gayle the "official successor to his sports franchises" (ESPN.com, 6/17).
