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Panthers Sale and Saints (1 Viewer)
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They aren’t going to come out poor, and unless there is a clause to sell the team to someone eventually Renee or one of the others will get it. Or who knows maybe Gayle will give it to her kids.
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tomwaits
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Reminds me of when people ask when a player will resign instead of re-sign.
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This is my uneducated recap of the entire team ownership process, from the beginning to the most recent development.
Shirley Benson passes, and Tom sets up a trust for his children in her name. He is named the trustee and sole income beneficiary.
Tom remarries, and Renee doesn't get along with her step mother. About seventeen years later, "confusion" concerning the trust develops.
There is a clarification of the trust and the fiduciary actions of Tom as its executor. It is accepted by all parties involved.
The trust is divided into three separate trusts under the umbrella of the main trust (Dawn Marie Benson trust, Rita Mae LeBlanc, and Ryan Joseph LeBlanc) with Benson managing and serving as trustee for the Dawn Marie trust partition, and Renee serving as trustee for the other two.
Grace Trudeau Benson passes in 2003. Tom Marries Gayle a year later. Renee does not get along with her step mother.
Rita is the heir apparent for Tom's sports franchises. Something happens in their relationship, and she is suspended from the organization.
Tom's health begins to fail. Renee and Tom Roddy, president of Lone Star Bank, visit Tom unannounced and shortly following surgery. Gayle calls, and tells Tom not to speak with them.
Tom sends a letter cutting ties with Renee and her children. He bars them from his businesses, and repossesses their company cars.
Renee files suit claiming that her $10,000 monthly payments from the trust stopped, and that Tom removed millions from Lone Star Bank without warning, possibly harming the bank.
Tom counter files, and states that she was trying to probe into his personal finances, has wasted most of the money the trust has given her, the trust owes him personally millions, and that he is removing the team assets from a separate trust that he had set up for the three R's.
Judge Tom Rickoff appoints temporary trustees over the Texas trust pending a hearing and a medical determination of Tom's competency.
The Trustee for the second New Orleans trust refuses Tom's asset transfer request, pending a valuation from a second source. Empire has performed that service in the past for Benson, but it was determined by the trustee that he needed a different estimate for the asset swap.
Tom Sues that trustee.
Tom is declared competent in court of handling his own affairs. He names Gayle as his beneficiary, and Dennis Lauscha as his power of attorney, effectively ending any claims of ownership the three R's have towards the sports franchises. They appeal.
The trustee is removed by the law firm handling the trust, and a new trustee is named. She agrees with the first trustee's assertion that the valuation of assets isn't correct. Tom sues her.
Judge Triche in New Orleans and judge Rickoff in Texas recommend mediation to resolve the two court cases. The main fight concerning mediation is the level which Tom will have to participate.
Tom makes an offer to step down as trustee of the Texas trust, as long as pretty much anyone but Renee and her kids are named trustee in his place.
A settlement is made concerning the Texas Trust, and Tom removes himself totally from it.
A settlement is made between Tom and the two trustees to remove the shares of both sports teams from the New Orleans Trust and replace them with equal assets.
The New Orleans settlement is thrown out by a Federal Judge. A court date is set.
The NFL votes to allow Benson to borrow 50% above the allowed $250,000,000 debt limit to facilitate a new settlement, largely to keep sensitive league information from becoming public record.
A settlement is reached between Tom and the two trustees (Rosenthal and Rowe) which allows them to withdraw their complaint that the assets being removed from the trust were not equal to the sports team shares.
All voting shares of both sports franchises are under the control of Tom and Gayle, with Dennis Lauscha being the actual managing partner. Some shares may remain in the LeBlanc trust, but they have zero say or control over any issues or decisions concerning either franchise.
Shirley Benson passes, and Tom sets up a trust for his children in her name. He is named the trustee and sole income beneficiary.
Tom remarries, and Renee doesn't get along with her step mother. About seventeen years later, "confusion" concerning the trust develops.
There is a clarification of the trust and the fiduciary actions of Tom as its executor. It is accepted by all parties involved.
The trust is divided into three separate trusts under the umbrella of the main trust (Dawn Marie Benson trust, Rita Mae LeBlanc, and Ryan Joseph LeBlanc) with Benson managing and serving as trustee for the Dawn Marie trust partition, and Renee serving as trustee for the other two.
Grace Trudeau Benson passes in 2003. Tom Marries Gayle a year later. Renee does not get along with her step mother.
Rita is the heir apparent for Tom's sports franchises. Something happens in their relationship, and she is suspended from the organization.
Tom's health begins to fail. Renee and Tom Roddy, president of Lone Star Bank, visit Tom unannounced and shortly following surgery. Gayle calls, and tells Tom not to speak with them.
Tom sends a letter cutting ties with Renee and her children. He bars them from his businesses, and repossesses their company cars.
Renee files suit claiming that her $10,000 monthly payments from the trust stopped, and that Tom removed millions from Lone Star Bank without warning, possibly harming the bank.
Tom counter files, and states that she was trying to probe into his personal finances, has wasted most of the money the trust has given her, the trust owes him personally millions, and that he is removing the team assets from a separate trust that he had set up for the three R's.
Judge Tom Rickoff appoints temporary trustees over the Texas trust pending a hearing and a medical determination of Tom's competency.
The Trustee for the second New Orleans trust refuses Tom's asset transfer request, pending a valuation from a second source. Empire has performed that service in the past for Benson, but it was determined by the trustee that he needed a different estimate for the asset swap.
Tom Sues that trustee.
Tom is declared competent in court of handling his own affairs. He names Gayle as his beneficiary, and Dennis Lauscha as his power of attorney, effectively ending any claims of ownership the three R's have towards the sports franchises. They appeal.
The trustee is removed by the law firm handling the trust, and a new trustee is named. She agrees with the first trustee's assertion that the valuation of assets isn't correct. Tom sues her.
Judge Triche in New Orleans and judge Rickoff in Texas recommend mediation to resolve the two court cases. The main fight concerning mediation is the level which Tom will have to participate.
Tom makes an offer to step down as trustee of the Texas trust, as long as pretty much anyone but Renee and her kids are named trustee in his place.
A settlement is made concerning the Texas Trust, and Tom removes himself totally from it.
A settlement is made between Tom and the two trustees to remove the shares of both sports teams from the New Orleans Trust and replace them with equal assets.
The New Orleans settlement is thrown out by a Federal Judge. A court date is set.
The NFL votes to allow Benson to borrow 50% above the allowed $250,000,000 debt limit to facilitate a new settlement, largely to keep sensitive league information from becoming public record.
A settlement is reached between Tom and the two trustees (Rosenthal and Rowe) which allows them to withdraw their complaint that the assets being removed from the trust were not equal to the sports team shares.
All voting shares of both sports franchises are under the control of Tom and Gayle, with Dennis Lauscha being the actual managing partner. Some shares may remain in the LeBlanc trust, but they have zero say or control over any issues or decisions concerning either franchise.
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SaintfromOZ
Pro-Bowler
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Let’s put our money together and make SR the new owner of our Saints lol
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I dont know Gayle Benson personally and, while she may be a lovely woman— no one knows what anyone will do when literally Billions of dollars are dangled in front of their face... apparently she wasnt even a football fan until she met Benson circa 10 or 15 yrs ago, so i doubt there’s much loyalty there.. to the person who said ‘We KNOW she wont sell’— what makes you so confident? The Panthers team is expected to fetch around $2 billion , and i doubt that the Saints would be valued much less than that.. All’s i’m saying is that it’s an enormous amount of $$ to throw at anyone, much less someone who presumably doesnt have a ton of interest in running a football team... And who in La. has pockets deep enough to buy the team?? Sure you can throw out the usual 2 or 3 names, but there are many, many more people in other places with far deeper pockets.. I believe the Saints have a deal to remain in NOLA for the next 20 yrs or so, but those agreements arent worth the paper theyre printed on... i’m extremely concerned about what will happen after Benson passes away in the near future, if you couldnt tell.[/QUOTE]
second thread i see you mentioning something like this. Are you just trying to stir the pot? you have no basis other then assumptions for what you are saying.
what makes me confident; I saw Gayle there at trainingcamp the last couple of years, I saw her there at Strief' pressconference. I saw her at every home game, she attended owners meetings. All things she did not need to do. For all I know and see she is very attached to the team, to football and to the ownerside of things.
assuming she will sell because someone will dangle $$$ in front of her is just plain silly and even offending.
if you make these statements back them up with actual information
second thread i see you mentioning something like this. Are you just trying to stir the pot? you have no basis other then assumptions for what you are saying.
what makes me confident; I saw Gayle there at trainingcamp the last couple of years, I saw her there at Strief' pressconference. I saw her at every home game, she attended owners meetings. All things she did not need to do. For all I know and see she is very attached to the team, to football and to the ownerside of things.
assuming she will sell because someone will dangle $$$ in front of her is just plain silly and even offending.
if you make these statements back them up with actual information
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The Saints' lease with the state and the Superdome expires in 2025. The exit fees are very high, so I wouldn't expect movement until closer to that date. It also gives the state and the Superdome time to work out an extension.
SweetT
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