Benson adds $522M to Saints-Pelicans ownership swap

Photo: WWL-TV

The owner of New Orleans’ national football and basketball teams has added $522 million in promissory notes to his former heirs’ trust funds to try to get back the trusts’ nonvoting shares in the Saints and Pelicans.

The New Orleans Advocate reports that papers filed Friday in U.S. District Court describe the move.

Benson is suing the stewards of two trusts that hold the shares for his daughter, Renee Benson, and her children, Rita and Ryan LeBlanc. He wants his current wife, Gayle Benson, to inherit complete ownership of the teams.

Benson can take back the shares if he replaces them with assets of equal value.

The papers say Benson tried to swap $400 million in promissory notes in January, but steward Robert Rosenthal said that was not enough.

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