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NFL for approximately $8.5 million. On May 31, 1985, petitioner
acquired control of the Saints by the purchase of certain assets
and the assumption of certain liabilities and obligations of the
Mecom Group. The partnership paid the Mecom Group $70,494,789
for the Saints.
The Superdome
The Superdome is an indoor stadium located in downtown New
Orleans. It is owned by the Louisiana Stadium and Exposition
District (LSED), a body politic and corporate and political
subdivision of the State of Louisiana (occasionally the State).
The LSED was created in 1966 by amendment to the Louisiana
Constitution for the purpose of planning, financing,
constructing, and operating the Superdome. At all relevant
times, the Superdome has been managed by Facility Management of
Louisiana, Inc. (FML), a corporation owned and controlled,
directly or indirectly, by the A.N. Pritzger family of Chicago,
Illinois (Pritzger). Pritzger also owned or controlled, directly
or indirectly, the Hyatt Hotel chain, including the Hyatt Hotel
adjacent to the Superdome.
Construction of the Superdome was authorized by a
constitutional amendment passed by Louisiana voters in 1966.
Actual construction began in 1971 and the Superdome opened in
August 1975. The structure was financed by LSED through three
private bond issues totaling $137.5 million and by a 4-percent
lodging tax levied on hotel and motel rooms located within LSED's
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