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The Stadium Leases
From 1967 through 1974, the Mecom group rented the Tulane
stadium for use by the Saints. From 1967 through 1969, the
Saints paid rent to Tulane University for each home game under
this arrangement at the rate of 12 percent of total net receipts
derived from all concessions sales, except programs and
copyrighted items.2 On June 23, 1975, the Mecom Group entered
into a lease with the State and LSED for the use of the Superdome
(the 1975 Lease). At all times subsequent to the effective date
of the 1975 Lease, the Saints have been the Superdome's anchor
tenant. The 1975 Lease was for a primary term of 10 years and
commenced on August 9, 1975. It contained a provision permitting
the Mecom Group to extend the primary term of the lease for two
successive 5-year periods. The terms of the renewal provision
required that the Mecom Group give appropriate notice of its
intent to exercise each option to extend the lease not less than
120 days before the expiring primary or extended term. Article
4, of the 1975 Lease required the Mecom Group to pay rent equal
to the greater of $25,000 or 10 percent of gross ticket sales per
game, plus $2,000 per home game for utilities, plus the cost of
hiring game-day personnel for clean-up and crowd control, and to
perform technical and miscellaneous functions.
2The record does not contain information regarding the
Saints' payment arrangement with Tulane University for the 1970
through 1974 football seasons.
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