News

Money panel looks at Saints' borrowing proposal

By Jessica Dunne
Source: Associated Press
Updated: September 17, 2009 11:51 AM

A state money panel is reviewing a $60 million borrowing proposal for Tom Benson, the owner of the New Orleans Saints.  The New Orleans Industrial Development Board wants to issue the money
  in bonds to help finance Benson's purchase of an office complex attached to the Superdome.

With that money, Benson would also buy a vacant mall and a parking garage nearby.  The
purchase is part of a deal between the team and the state to keep the Saints in Louisiana through 2025.

Today, the Bond Commission is considering whether to approve the arrangement.

 

 

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