re: Some tweets from the President this morning

They still get a bunch of tax breaks and incentives, although mostly from the state/local level.

Saints for instance: LINK

quote:

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Tax-free business operations - Benson's contracts with the state exempt the Saints' and Pelicans' revenue from sales tax, effectively giving the organization a 10 percent discount on overhead worth $11.6 million.

All naming rights revenue - The Mercedes-Benz Superdome deal is reportedly worth $50 million to $60 million over 10 years. The Smoothie King Center contract is reportedly a 10-year deal worth $40 million.

Rent-free venues - Benson doesn't have to pay rent at the Smoothie King Center or the Superdome because both were built with publicly funded debt. That debt is secured through hotel taxes in Orleans and Jefferson parishes that, in 2015, brought in about $58 million. The remainder of the tax revenue not used to fund debt service subsidizes the operational costs of running the venues.

Grand total - Benson's team is valued at $1.5 billion, according to Forbes. About $165 million of that stems from his stadium deal.

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