New Orleans Louisiana Saints, Limited Partnership, Benson Football, Inc. Tax Matters Partner - Page 9

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          to their communities.  The increasing demand for professional               
          football teams gave rise to an increasing willingness on behalf             
          of State and local governments to provide public sector financial           
          assistance to team owners.  That is, in order to attract a                  
          professional football team to their communities, State and                  
          municipal governments were becoming more willing to contribute              
          large amounts of financial assistance to team owners.  Financial            
          assistance was commonly conveyed through subsidized stadium                 
          leases underwritten by the public sector.                                   
               Stimulated by the competition to secure and retain                     
          professional sports teams, State and municipal governments                  
          entered the stadium facility business and began offering those              
          facilities and related benefits as inducements to team owners.              
          These inducements took various forms, including:  (1) The                   
          construction, renovation, or expansion of stadiums at the expense           
          of the public sector; (2) public sector financing of luxury                 
          suites, stadium clubs, and other forms of premium seating the               
          revenues of which could be assigned to the resident team; and (3)           
          the assignment to the resident team of the right to operate or              
          profit from cash-generating functions of the stadiums, such as              
          parking garages and concessions and souvenir stands.  Inducements           
          of this nature were particularly valuable to team owners because            
          of the growth of stadium revenues and the preferred treatment               
          accorded stadium revenues and related assets under the NFL's                
          revenue-sharing rules and team debt limitations.                            




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