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Saints organization having serious cashflow issues....behind on payments for renovations,
Posted on 5/22/24 at 3:42 pm
Posted on 5/22/24 at 3:42 pm
NOLA
The team is worth a lot but that does not guarantee cash on hand. Gayle has spent a lot of cash and it is running low. They are losing money on a lot of fronts outside of the Saints and it is finally starting to affect paying the bills.
The team is worth a lot but that does not guarantee cash on hand. Gayle has spent a lot of cash and it is running low. They are losing money on a lot of fronts outside of the Saints and it is finally starting to affect paying the bills.
quote:
The New Orleans Saints are behind on payments to the Superdome Commission that are needed for the ongoing renovation of the Caesars Superdome, potentially threatening to delay the project’s scheduled completion as the city readies to host the Super Bowl early next year.
Members of the commission, known formally as the Louisiana Stadium and Exposition district, or LSED, were told by their staff at a board meeting Wednesday that the Saints haven’t paid their share of the massive renovation project since December, and currently owe $11.5 million to the commission, which has been covering the bills to date.
This post was edited on 5/22/24 at 3:45 pm
16
Posted on 5/22/24 at 3:48 pm to Cell of Awareness
Nowhere in this article does it say they're having cash flow issues
Posted on 5/22/24 at 3:48 pm to Cell of Awareness
A few average seasons impacts ticket sales and revenue. I think Carr should pay half of that 11 million. Kidding - all of it.
Posted on 5/22/24 at 3:55 pm to Rand AlThor
Then they are deliberately withholding payment on bills just for the fun of it? Yeah, that's not going to fly regardless, especially with the NFL under fire for its owners constantly wanting public $ for new stadiums and renovations.
Posted on 5/22/24 at 3:56 pm to Rand AlThor
quote:
Nowhere in this article does it say they're having cash flow issues
You are right. I should have specified. They are having such issues as many parts of the organization are losing money. They took on some massive debt when Gayle paid off the Benson heirs in the settlement and financed much of it short term. It is now due and the payments are likely to double if refinanced.
This post was edited on 5/22/24 at 3:57 pm
Posted on 5/22/24 at 3:56 pm to Cell of Awareness
No NFL team has cash flow issues. They make so much money from the TV rights they are in the black before a single person steps into a stadium. Fact.
Posted on 5/22/24 at 3:57 pm to pmacneworleans
quote:
Then they are deliberately withholding payment on bills just for the fun of it?
They are likely deliberately withholding payment as part of the ongoing Superdome lease negotiations....not lack of funds.
Posted on 5/22/24 at 3:58 pm to Cell of Awareness
quote:
. They took on some massive debt when Gayle paid off the Benson heirs in the settlement and financed much of it short term. It is now due and the payments are likely to double if refinanced.
link?
Posted on 5/22/24 at 4:00 pm to GWfool
Has or had cash flow issues? (Art Modell knew first hand). Seems to me she is a terrible business woman.
Posted on 5/22/24 at 4:06 pm to Chad504boy
quote:
link?
The details were not made public. But the silence of Rita and her mother since tell you it was not ten dollars and some returnable soda bottles.
Benson had to replace the shares in the trust and that cost was well into the hundreds of millions.
Posted on 5/22/24 at 4:06 pm to Cell of Awareness
She’s too busy gifting money to anything and anyone that will put the name on properties across the region.
They had a sold out stadium for 20 years. Free rent. A sweet heart deal for the Benson Tower and still refuse to pay their share.
They had a sold out stadium for 20 years. Free rent. A sweet heart deal for the Benson Tower and still refuse to pay their share.
This post was edited on 5/22/24 at 4:08 pm
Posted on 5/22/24 at 4:07 pm to Cell of Awareness
This organization is nothing but a complete clown show at this point. Maybe they really should move to San Antonio.
Posted on 5/22/24 at 4:08 pm to TigerSooner
quote:
Maybe they really should move to San Antonio.
They need a real owner.
Posted on 5/22/24 at 4:11 pm to Cell of Awareness
Sounds like its time for Todd Graves to make a big offer to buy the Pets and Saints
Posted on 5/22/24 at 4:13 pm to Akit1
Carr at his current contract is a pretty big steal imo. You have way shittier QBs making a lot more than he is. He played pretty well also, he was top 10 in QBR if im not mistaken. Hard to say our troubles were his fault. 40 Mill a year for a starting QB is a bargain these days. This isnt 2009 anymore.
Posted on 5/22/24 at 4:14 pm to Louisiana Gator
quote:
Sounds like its time for Todd Graves to make a big offer to buy the Pets and Saints
There would have to be financing involved as Graves could not come up with the purchase price without liquidating a large portion of his Canes ownership. And now is not the best time for financing.
Posted on 5/22/24 at 4:25 pm to Cell of Awareness
Whose alter are you? Why are you coming on here to post about this? This thread is already filled with low-post-count posters who never post on this board...hm........
FYI, Saints made a statement:
FYI, Saints made a statement:
Posted on 5/22/24 at 4:27 pm to Cell of Awareness
My guess is Gayle is traveling somewhere and knows nothing about this.
Her accounting staff is likely making $2k-$5k a day by investing this $10m and waiting until the very last minute to give it up.
Then when Gayle attends her quarterly "how rich am i this month" meeting, they can say a larger number than had they paid the bill day one. Then she is happy and hands out bonuses to them.
Cash flow issues explained
Her accounting staff is likely making $2k-$5k a day by investing this $10m and waiting until the very last minute to give it up.
Then when Gayle attends her quarterly "how rich am i this month" meeting, they can say a larger number than had they paid the bill day one. Then she is happy and hands out bonuses to them.
Cash flow issues explained
Posted on 5/22/24 at 4:31 pm to Cell of Awareness
Loomising? 
Posted on 5/22/24 at 4:42 pm to Rand AlThor
The City literally cannot provide documents on time so the team is punishing them (AS THEY SHOULD)
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