Friday, August 28, 2009
Final step of Saints' deal approved
BATON ROUGE, La. -- The final step of a financial deal to keep the Saints in New Orleans has been approved by Louisiana lawmakers.
Lawmakers approved a lease arrangement Friday that will have the state renting downtown New Orleans office space from team owner Tom Benson.
It's part of a deal to funnel money to the team while limiting direct cash subsidies from the government.
The Joint Legislative Committee on the Budget agreed to the lease with a 10-2 vote of senators and a 17-7 vote of House members.
It was the last legislative approval needed to finalize the deal between Republican Gov. Bobby Jindal's administration and the NFL team to keep the Saints in Louisiana through 2025.