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The report released today by NOLA.com
Tom Benson sues to take Saints, Pelicans out of heirs' trust fund http://t.co/7GAT4GoL8n
— NOLA.com (@NOLAnews) March 11, 2015
Tom Benson, principal owner of the New Orleans Saints and Pelicans, filed a lawsuit Wednesday (March 11) to remove all stock in the professional sports franchises from the trust funds he set up for his daughter and grandchildren.
The suit, filed in federal court in New Orleans, seeks a judge's order that would force longtime trustee Bobby Rosenthal to let Benson take back stock in the teams and related assets, in exchange for $556 million in promissory notes, real estate and $94 million in forgiven debt.
Benson would then owe more than $450 million to the trusts benefiting his daughter Renee and grandchildren Rita and Ryan LeBlanc.
To view the complete court documents click Case 2:15-cv-00782 Document 1 Filed 03/11/15
More offseason Benson family drama to break up the fast pace that has been Saints free agency.
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