Louisiana, Saints drop exit clauses
Posted: 1 hour ago
BATON ROUGE, La. (AP) - The New Orleans Saints have come to an agreement with state officials that will keep the team in Louisiana through the 2010 season.
Both sides agreed to toss out contract exit clauses that would have let the NFL team leave the state within the next four years.
"For the foreseeable future, Louisiana's team will keep marching to victory right here," Gov. Kathleen Blanco said at the Governor's Mansion on Monday, announcing the latest developments in ongoing negotiations to keep the Saints in New Orleans.
The contract had allowed the Saints to opt out of its current deal with the state by repaying about $70 million the state has provided in inducements to the team. But the Saints will drop that termination clause, and the state will eliminate its ability to opt out of the contract.
Both sides agreed to continue negotiating on a long-term agreement that could keep the Saints in New Orleans beyond the current contract.