NEW ORLEANS (AP) – New Orleans Saints coach Sean Payton has settled his lawsuit against a former Saints player who sold him nonexistent state movie tax credits from a defunct film studio.
Payton's attorney, Daniel Becnel Jr., described the settlement approved Thursday as “substantial.” He refused to give further details, saying the settlement amount was confidential.
The case is tied to the payment of $1.9 million by present and past members of the team in 2008 to Louisiana Film Studios LLC. But the studio's chief, Wayne Read, never applied for the credits and never gave the money back. Records show Payton paid Read $144,000.
Former Saints long snapper Kevin Houser, who is in the securities business, has been blamed for the sour deals.