Q&A with New Orleans Saints and Pelicans President Dennis Lauscha

QUESTION: “How much money have the Saints already contributed to the Caesars Superdome renovation work?”

ANSWER: “The original cost estimate was $450 million, with the Saints contributing $150 million, however, there have been budget and scope increases. The total project estimate has come in at $550 million, which includes an increase in the overall budget. In good faith, the New Orleans Saints agreed in 2021 that we would participate in and incur these additional budget increases. To date, we have paid the LSED $144.7 million. Our one-third share is $183 million. Our last payment was made on March 28, 2024, days following our March 20 meeting where we thought a consensus had been reached on the terms of a long-term lease. That payment was in the amount of $25.1 million.”

QUESTION: “The LSED claims in a media statement that it has given the Saints all the documents they have requested. What are the exact documents you are asking for from the LSED and why is the team tying the renovation payments to the lease agreement?”

ANSWER: “First off, it is absolutely disingenuous and unprofessional for the LSED to make a statement that they are unaware of what we are looking for, which I believe they have since admitted. In December, as noted previously, the LSED was informed that material progress toward a long-term lease had to be made or payments would be stopped. In March, a meeting was held whereupon issues were discussed, and resolutions agreed to. As of late of last week, sufficient progress was not made and the Saints reached out to tell them, yet again, that payments would not be made until significant progress on the lease was accomplished. They responded that they were in agreement with approximately 85% to 90% of the most recent draft we sent them on May 9. In good faith and wanting to complete the agreement, we asked that any remaining issues be sent by close of business on Monday, May 20, which they agreed to do. We also let them know that if the 10% to 15% of disputed issues were reasonable, that 85% or 90% was agreed to, and that the request was not an erosion of current rights, we would immediately make a payment. Not only was the deadline missed but multiple calls and messages were not returned. Again, it should be noted that as of today, we have still not received the 10% to 15% of disputed items. This is particularly frustrating as we offered to make the funding payment if we could just confirm…