Saints owner Tom Benson strikes deal with spurned heirs
NEW ORLEANS - New Orleans Saints and Pelicans owner Tom Benson and trustees for his estranged heirs have ironed out legal and structural sticking points of a settlement that has been in the works since last June, avoiding a federal trial that was scheduled to begin on Monday.
Attorneys said Friday the parties had reached the confidential agreement, which allows Benson to avoid the likelihood that proprietary financial information sensitive to the NFL and NBA would become public record in court.
The 89-year-old Benson and the trustees had already agreed on the framework of a settlement removing shares of the pro teams from trusts set up for Benson's daughter, Renee, and her two children, Rita and Ryan LeBlanc. However, the sides still had to mutually accept technical details regarding how settlement payments would be made and guaranteed.