Louisiana Gov. Discusses Superdome Renovations, New Saints Lease
Louisiana Gov. John Bel Edwards "paid a rare visit" to Saints' training camp, where he "discussed a long-term deal to keep the Saints in New Orleans," as well as renovations for the Mercedes-Benz Superdome, according to Rob Masson of New Orleans-based WVUE-Fox. Edwards said that the "first piece of a renovation puzzle could be put in place" on Thursday. That is when the State Bond Commission is "expected to consider" a new $450M Superdome renovation package that "could keep the Saints in New Orleans for as long as 30 more years" (FOX8LIVE.com, 8/12). Saints and Superdome officials said that the renovation is "necessary to modernize" the stadium and "extend its life for the team and as a competitive venue to host major events for the next 15 to 20 years." The renovation project is the "linchpin to a long-term agreement between the state and the team, whose existing lease agreement expires" in '25. Under the terms of the financing deal, the Saints have "agreed to fund one-third of the project costs," or up to about $150M, while the state Superdome Commission will fund $210M through the "issuing of bonds, assuming the State Board Commission approves its request this summer" (NOLA.com, 8/12).