Officials Wednesday reported that the New Orleans Saints have missed issuing millions of dollars in payments for renovations at the Superdome.
The team issued a statement saying that officials have not provided documents that Saints management has requested.
“We have however asked for certain documentation over an extended period and we have not received that documentation. Prior to our last payment in December, we requested the documentation, but in good faith we continued to fund. We have been waiting and requesting that documentation since that date and most recently expected it before today's LSED meeting and yet another timeline has slipped with no explanation or communication of any kind,” the statement read.
The Louisiana Stadium and Exposition District responded, saying the board does not know what the Saints want. The body that governs the Superdome said:
“ The LSED does understand what ‘documentation’ the Saints were referring to in their press release earlier this date. Since the inception of the project five years ago, the LSED has provided the Saints:
· All documentation required for production under the Project Development Agreement entered into between the Saints and LSED for the Superdome renovation project.
· Detailed documentation related to construction invoices, pay requests, change orders, and other project-related expenses.
The Saints indicated they have the money, and will turn it over when they get what management is requesting.
“When the satisfactory documentation is provided, a payment will immediately be authorized. Unfortunately, it was disappointing to hear the comments coming out of the LSED meeting today that the team is not acting in good faith, when, in fact, we feel the opposite is true.”
The Saints had pledged to pay $200 million of the $450 million improvements to the Superdome as a part of the bid to secure the upcoming Super Bowl.
“We have no issue with making the current payment of $11.5 million or for that matter the remaining balance,” the team insisted.
The LSED’s statement said, “It would be helpful to the process if the Saints were more specific and identified what ‘documentation’ they are referencing. To the extent that the ‘documentation’ may relate to efforts to further extend the Saints' lease for the Superdome, that is a completely separate and independent agreement that the Saints extended for five (5) years last December. There is no legal basis to withhold payments under the Superdome Renovation Project Development Agreement based on efforts to negotiate a longer-term extension.”
