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New Orleans Saints officials say that the recent settling of the trust of owner Tom Benson will help the team move forward in its rebuilding plans after three consecutive seasons without a playoff berth.
Friday’s announcement was the end of a dispute that had raged since December 2014 when Benson removed ownership stakes in his sports teams from his estranged daughter, Renee Benson, and her children, Rita and Ryan LeBlanc. Tom Benson then sued his relatives after the trustees blocked the move.
Saints coach Sean Payton told the New Orleans Times-Picayune that the settlement announcement was expected.
“My understanding was it was settled quite a while back, so it’s not surprising,” Payton told NOLA.com. “It’s been the better part of a year and half, two years kind of there’s been closure in our minds.”
The lawsuit had been scheduled to go to trial on Monday.
In February 2016, a San Antonio court put Renee in charge of the $1 billion Shirley Benson trust. Shirley was Tom Benson’s first wife, and they adopted Renee, along with two other children. The trust includes Lone Star Bank, shares of five auto dealerships and real estate in Texas and Nevada.
But, last week’s settlement was the final step in the lawsuit, which was set to go to trial Monday. It likely would’ve centered on the value of the Saints and Pelicans, and Tom Benson as well as the NFL and NBA wanted to keep the team’s financial details confidential.
Benson, 89, has not spoken publicly about any of his teams since before 2016. Saints general manager Mickey Loomis told the Times-Picauyne that he has been strong in his support, despite the Saints struggling to three consecutive 7-9 seasons.
Well, look, he’s not happy with 7-9, that’s for sure,” Loomis told the Times-Picayune. “But he also understands the building process. So he’s been nothing but supportive.”
Tgriffin@express-news.net
Twitter: @TimGriffinBig12
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