Thursday, August 19
Saints and state to meet on Sept. 1
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Associated Press
BATON ROUGE, La. (AP) _ State officials and the New Orleans Saints will begin talks on Sept. 1 to discuss ways of keeping the team in New Orleans past 2010, including the idea of building a new stadium.
Gov. Kathleen Blanco said Wednesday that she spoke about a week ago with Saints owner Tom Benson and they agreed to meet for the first time since June 3.
Since that meeting, the governor has floated the idea of building the Saints a new stadium in tandem with the expansion of the New Orleans convention center.
(Finally the new Gov is telling the truth=the Saints will only settle for a new stadium)
The state is bound to a 10-year, $186 million agreement that Blanco wants to renegotiate. The original deal was negotiated by her predecessor, Gov. Mike Foster, in 2001, giving the Saints cash guarantees and additional concession revenues from the Superdome.
The state had to borrow $7.1 million from a business development program at the Department of Economic Development to make the scheduled $15 million payment this year.
Benson has said he wants a new stadium and, in the meantime, the state should continue to honor the $186 million deal. Blanco has said she favors a renovation of the Superdome, but is willing to study the idea of a new stadium.
About $360 million in cash and bonds have been allocated for a 500,000-square-foot expansion of the convention center. Blanco said one problem could be reallocating money for a smaller expansion and financing part of a new stadium.
The price tag for a new stadium has been put at $450 million. Benson has said in the past that the team and the National Football League could put up about $100 million.
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Saints and state to meet on Sept. 1
--------------------------------------------------------------------------------
Associated Press
BATON ROUGE, La. (AP) _ State officials and the New Orleans Saints will begin talks on Sept. 1 to discuss ways of keeping the team in New Orleans past 2010, including the idea of building a new stadium.
Gov. Kathleen Blanco said Wednesday that she spoke about a week ago with Saints owner Tom Benson and they agreed to meet for the first time since June 3.
Since that meeting, the governor has floated the idea of building the Saints a new stadium in tandem with the expansion of the New Orleans convention center.
(Finally the new Gov is telling the truth=the Saints will only settle for a new stadium)
The state is bound to a 10-year, $186 million agreement that Blanco wants to renegotiate. The original deal was negotiated by her predecessor, Gov. Mike Foster, in 2001, giving the Saints cash guarantees and additional concession revenues from the Superdome.
The state had to borrow $7.1 million from a business development program at the Department of Economic Development to make the scheduled $15 million payment this year.
Benson has said he wants a new stadium and, in the meantime, the state should continue to honor the $186 million deal. Blanco has said she favors a renovation of the Superdome, but is willing to study the idea of a new stadium.
About $360 million in cash and bonds have been allocated for a 500,000-square-foot expansion of the convention center. Blanco said one problem could be reallocating money for a smaller expansion and financing part of a new stadium.
The price tag for a new stadium has been put at $450 million. Benson has said in the past that the team and the National Football League could put up about $100 million.
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