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Benson settlement reached.
Posted on 6/17/16 at 2:13 pm
Posted on 6/17/16 at 2:13 pm
New Orleans – It was announced today that terms of a settlement have been reached by Tom Benson and the trustees. Terms will remain confidential.
The parties have informed the National Football League and the National Basketball Association of the terms related to the framework of the settlement. Operations for all Tom Benson business properties including the New Orleans Saints, the New Orleans Pelicans, WVUE-FOX 8, automotive dealerships and Benson Tower remain “business as usual.”
LINK
The parties have informed the National Football League and the National Basketball Association of the terms related to the framework of the settlement. Operations for all Tom Benson business properties including the New Orleans Saints, the New Orleans Pelicans, WVUE-FOX 8, automotive dealerships and Benson Tower remain “business as usual.”
LINK
This post was edited on 6/17/16 at 2:14 pm
7
Posted on 6/17/16 at 2:14 pm to touchdownjeebus
Adios Rita
Posted on 6/17/16 at 2:14 pm to NorthshoreTiger76
I hope, but nothing is really known.
Posted on 6/17/16 at 2:22 pm to touchdownjeebus
Bye Rita. Enjoy your money. Stay away from the Saints. Take your skills elsewhere.
Posted on 6/17/16 at 2:41 pm to Mrwhodat
That's fricking amazing!
Posted on 6/17/16 at 2:43 pm to touchdownjeebus
helena moreno was thrown in as a sweetener for rita
Posted on 6/17/16 at 2:44 pm to geauxtigers87
and now financial information that the NFLPA and NBPA were probably hoping to get a closer look at will get to remain confidential
Posted on 6/17/16 at 4:20 pm to touchdownjeebus
quote:
terms of a settlement have been reached by Tom Benson and the trustees
Tom Benson playing chess....
Rita, et.al.... playing Checkers.
Posted on 6/17/16 at 4:32 pm to touchdownjeebus
Great news! Finally this mess can go away...(hopefully)
Posted on 6/17/16 at 5:26 pm to CrumbBumb
Hey crumbBumb how's the wife?
Posted on 6/18/16 at 12:59 am to NorthshoreTiger76
Moderately upset I'm not involved in the succession plan...
Posted on 6/21/16 at 1:01 pm to Sid in Lakeshore
quote:
Tom Benson playing chess....
Rita, et.al.... playing Checkers.
not really
no details have been or will be provided but if benson decided to settle it was in their favor, not his. the value of the promissory notes was always the issue; if he was successful in swapping pels/saints shares for promissory notes you can believe that those notes are worth far more than the team shares are currently valued. whether you think rita/etc are gold-digging ingrates or not, they had the upper hand in the potential trial and benson's lawyers (and the NFL/NBA) knew that
now, gayle gets the teams (yay?) and rita gets a whole bunch more money
Posted on 6/21/16 at 1:28 pm to cgrand
She was always going to get the team
It was non-voting shares
It was non-voting shares
Posted on 6/21/16 at 1:36 pm to cgrand
quote:
not really
no details have been or will be provided but if benson decided to settle it was in their favor, not his. the value of the promissory notes was always the issue; if he was successful in swapping pels/saints shares for promissory notes you can believe that those notes are worth far more than the team shares are currently valued.
Not sure why you think anyone would settle fro more than current market value.........
The problem with promissory notes is, "when do come due". I hope not upon his death, because that would put us right back where we are now.
Posted on 6/21/16 at 1:59 pm to Sid in Lakeshore
quote:
Not sure why you think anyone would settle fro more than current market value.........
if someone offered to exchange something for more than it was worth you'd say no?
either a settlment in their favor would be reached or they would go to trial in a position of strength
how is that "playing checkers" to benson's "chess"?
This post was edited on 6/21/16 at 2:32 pm
Posted on 6/21/16 at 3:34 pm to cgrand
quote:
or they would go to trial in a position of strength
WTF is this?
The trust has ALWAYS said that assets could be substituted for other assets of equal or greater value. How would Tom be operating from a position of weakness?
Posted on 6/21/16 at 6:41 pm to touchdownjeebus
Oh thank goodness, Mr Benson can now move the team to Las Vegas.
Posted on 6/21/16 at 7:04 pm to Sid in Lakeshore
quote:
The trust has ALWAYS said that assets could be substituted for other assets of equal or greater value. How would Tom be operating from a position of weakness?
Well, there is that IRS problem when it comes to an irrevocable trust
Posted on 6/21/16 at 9:04 pm to VOR
Go on, Mr. Bart.
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