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NFL rejects Tom Benson's ownership deal with estranged family's trusts | NOLA.com
Well this sounds terrible.
Well this sounds terrible.
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I read it 3 times and still don't have a clue what it says?
Essentially, Benson can't use the Saints as collateral for the shares of the team he intended to remove from the trusts. They don't want the three R's to have any pathway to claiming ownership, or suing for ownership, were Tom to somehow default on a payment or asset owed to the trust.
I imagine its just going to be a structuring issue. The trustees and the feds are on board with the agreement. It probably just has to be worded in a certain way to assuage their discomfort.But does he have enough other assets to do this?
NFL rejects Tom Benson's ownership deal with estranged family's trusts | NOLA.com
Well this sounds terrible.
You are right. This is not good news. Problems with ownership impact FO, coaching and scouting