News: On Thursday, the House budget committee agreed that Louisiana should pay the New Orleans Saints and Hornets $26 million in state surplus cash to meet the state's contractual obligations. The contract states that if the State fails to make these payments, the teams could opt to move out of New Orleans.Who Dat News: The State negotiated these deals with the Saints and Hornets in order to allow the teams to compete financially with teams in larger markets. This was before either team was as successful as it is now, though. We would all like to see Tom Benson open his books (something he has never done) and prove to us that the Saints are in need of this payment. Speculation is that even without the payment, the Saints would rank in the middle of the pack of NFL teams in terms of profitability. Regardless, the State made a wise financial decision in leaving Benson no opportunity to move the Saints. In terms of economic stimulus, a payment of $26 million to keep both the Saints and the Hornets in New Orleans generates enormous dividends for New Orleans and for the entire State in helping the city land events such as the NCAA National Championship Game and the NBA All Star Game of this past year – and hopefully a Super Bowl for 2013.
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