Tom Benson and the Purchase of the New Orleans Saints
Tom Benson bought the New Orleans Saints in 1985, acquiring the franchise from founder John W. Mecom Jr. The deal marked a turning point for the Saints, bringing local ownership and long-term stability to the organization. The purchase price was reported at approximately 70 million dollars at the time, according to widely cited business and sports finance sources Forbes.
The Saints were established in 1967 as an expansion franchise, and Mecom had owned the team for nearly two decades before Benson's acquisition. Benson's investment group took control during a period when the franchise was still building its identity in the NFL. The purchase laid the foundation for the Saints' eventual growth into a major NFL brand with a loyal regional fan base.
Financial Details and Ownership Structure of the Saints Acquisition
Purchase Price and Valuation
The initial 70 million dollar valuation in 1985 made the Saints a modestly priced franchise at the time. Over the following decades, the team's value grew substantially due to stadium upgrades, revenue sharing, and increased media rights income. By the time of Benson's death in 2018, franchise valuations for the Saints had risen well above one billion dollars, reflecting the broader financial growth of NFL teams Forbes.
Benson's Broader Sports Portfolio
Tom Benson also owned the New Orleans Pelicans NBA team, which he acquired in 2012. His sports holdings were managed through Benson Sports Entertainment, a private entity that oversaw both franchises. The structure allowed centralized management of operations, marketing, and community engagement across his teams SEC EDGAR.
Legacy of the Benson Ownership Era
Impact on the Saints Franchise
Under Benson's ownership, the Saints won Super Bowl XLIV in 2010, their first and only Super Bowl title. The franchise became a central part of New Orleans' cultural identity, especially after Hurricane Katrina in 2005. Benson's commitment to keeping the team in New Orleans was widely noted during the post-Katrina rebuilding period ESPN.
Succession and Current Ownership
Tom Benson passed away in March 2018, and ownership of the Saints transferred to his widow, Gayle Benson. She became the controlling owner and chairperson of the franchise, making the Saints one of the few NFL teams currently led by a female controlling owner. The transition maintained continuity in leadership and preserved the Benson family's long-term investment in the franchise NOLA.com.